Emerging Food Industry Trends for 2020 and Beyond
Food is something that all human beings need to consume on a daily basis to survive. In the recent years, we have seen significant changes in customer desires and the food businesses around the world are continuously engaged in efforts to satisfy these desires. In this highly competitive industry, thorough awareness of innovative techniques, rising costs and consumers’ preferences is critical to the existence of any food related business.
In today’s discussion, we take a look at the emerging food industry trends that are extremely likely change the industry in the days to come.
Higher Focus on Transparency and Food Safety: With changing times, consumers have become extremely conscious about what they consume. Accordingly, many of them carry out extensive research about different food products. Therefore, it has become extremely important for the food manufacturers to remain transparent and pinpoint issues, if any. This is one of the best ways to earn the trust of today’s consumers. In addition to safety, taste, and price of food, more and more consumers now value the reputation of the company before spending their hard earned money on them. Transparency is undoubtedly one of the best ways to build reputation in this evolving market.
Product Differentiation and Innovation: In today’s market, we have a wide range of food products available via many different channels such as local farmer’s market, ordinary retail stores, online sites, and many others. The bombardment of so many products and saturation of the market makes it important for the manufacturers to become more innovative and create improved food items. This will also help them stand apart from the rest and deliver a range of products that are easier to differentiate. This can be accomplished by the brands by utilizing vibrant packaging styles or releasing trending flavours of an existing product.
Popularity of Functional Foods: Food is no longer looked upon as something that helps us ease hunger. With growing consumer awareness, more and more people are now looking for functional food items. Just a few years ago, these healthy food items were considered to be a part of a niche segment of the industry. However, a high percentage of consumers are now ready to spend more for foods that are healthier. Therefore, the manufacturers will have to take the functional ingredients into consideration for gaining a stronghold in the industry.
Leveraging Technology: In order to deliver improved products, many reputed brands are now relying on innovation and different types of emerging technologies. In the near future, blockchain technology may become extremely popular in the food industry. Some other highly promising technologies for the food industry are robotics, virtual reality, and the Internet of Things. The benefits of these technologies are now known to all, and the day is not very far when more and more food distributors, manufacturers, as well as growers would want to propel their businesses forward with the help of these technologies.
Sustainable Products: Sustainability is one of the most important necessities of the mankind at the present age. It is certainly great to see so many people looking to lead a sustainable lifestyle. These individuals are continuously in search of food products that follow sustainable practices. From production line to food packaging, many shoppers are now happy to pay more for embracing a greener way of life. In the next few years, we can certainly expect food processing and packaging to become more earth friendly with a strong desire to help the environment.
Exotic Flavours: In the food industry, taste and flavour have always been the name of the game. Regardless of how healthy a food product is, people may not like it if its taste is not good. This is why one of the foremost priorities of this industry is to satisfy different taste buds that are choosy, picky, and sometimes discriminating. As today’s educated population is receptive of other cultures, the demand for exotic flavours have reached an all time high. This trend is expected to get even stronger in the future and the companies have the task of coming up with more depth and variety in their offerings.
Clean Labels: These days, everything we want to find out is just a Google search away. Therefore, there is a need for the food industry players to redefine the way they look at labels. In today’s context a clean label should contain detailed information about the contents of the food, how it is manufactured, and details about the manufacturer. If these details are not available, it is extremely likely that many prospective buyers will silently avoid the product.