Cutting waste and improving trust in food are the top two of 10 key food and drink industry trends that will dominate 2014, predicts Innova Market Insights.
The top trend – Waste Not Want Not – reflected manufacturers’ efforts to reduce food loss or waste. Food loss during production and food waste, at the retailer and consumer end of the food-supply chain, will be heavily scrutinized, forecast Innova.
Ingredients derived from the waste stream were also said to hold big potential.
The second trend – You Can Trust Us – followed recent food safety scares and scandals, which had crippled consumer confidence, said the research organisation. “Companies have their work cut out in order to regain consumer trust”, it said. “Ingredient origin will be used as a marketing tool. The consumer should ultimately benefit from higher quality foods that are clearly traceable.”
‘Traceability is high on the agenda’
Lu Ann Williams, director of Innovation at Innova, added: “Traceability is high on the agenda and manufacturers are actively marketing this to consumers. For example, global product launch activity featuring the word ‘origin’ for claims purposes increased by 45% for the first half of 2013 compared with the second half of 2012, with further growth anticipated.
“Among the leading market sub-categories responsible for this growth are cheese, chocolate and coffee.”
Also making the top five list of key trends that are predicted to shape the food and drink industry of 2014 were factors Innova termed: Simpler pleasures, Look out for the small guy and Health is more holistic.
The simpler pleasures trend referred to the claim that consumers were reassessing their needs and returning to basics, by finding more pleasure in simpler food. This was evidenced in the shift towards home cooking, with food bringing family and friends together, claimed the research firm.
‘Budget and premium sides’
“This relates to growth on the budget and premium sides, but the centre ground is being squeezed. Value packaging and ‘good value’ claims on the products themselves and in-store value promotions are prospering.”
Look out for the small guy anticipates the trend towards small-scale innovators developing high quality and distinct products that have small-scale appeal, but big trend potential. The rapid rise of social media platforms had offered more opportunities for small companies to develop business opportunities in both domestic and export markets.
Health is more holistic referred to the progress nutrition is making towards recognition as the answer to healthcare budget crises worldwide. “Some big food manufacturers are looking to all areas of health for a more holistic approach in providing nutritious food and beverage solutions to consumers,” said Inova.
Clinical nutrition is regarded as a platform with high profit potential, along with health alternatives, such as traditional Chinese medicine.
The other five trends were: ‘New’ superfoods, Rise of the Hybrid, The Protein Horizon, New Stealth Strategies and Alternative Alternatives.
Innova will reveal more information about its research – including details of the last five – at the Food Ingredients Europe event in Frankfurt, Germany next week.
Top 10 food and beverage trends for 2014
- Waste not want not: cutting food waste.
- You can trust us: improving consumer trust
- Simpler pleasures: back to basic trends towards simpler food
- Look out for the small guy: small-scale innovators rise to the challenge
- Health is more holistic: a more holistic approach in providing nutritious food and beverage solutions to consumers
- ‘New’ superfoods
- Rise of the hybrid
- The Protein Horizon
- New stealth strategies
- Alternative alternatives.