Millennials’ expectations for food are changing the market, says the new report from Maru/Matchbox. Specifically, qualities previously considered “premium” — like sustainable and locally sourced — have become mainstream expectations. Fortunately for companies producing these products, Millennial consumers are also willing to pay the premium price.

Here are some other the key findings:

What this indicates for brands is that they don’t have to be huge companies to have a slice of the market share. Nor must they compete for the lowest price if their quality is higher.

Companies would do well to maximize online sales strategies to this tech-native generation, and remember social sharing by loyal consumers is free advertising.

Source: Market Wired: Millennials’ Willingness to Pay for Premium Ingredients is Helping to Redefine the Food Industry

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