Market intelligence agency Mintel has released what it sees as the five key trends that will affect the food and drink market in the coming year.
At the top of the list is transparency and traceability, as consumers demand more information on what exactly is in their food and where it came from. In addition, Mintel expects more personalized products and recommendations as consumer behavior plays a larger role in what food companies produce.
The five key trends are:
1. Full Disclosure
Manufacturers are facing increasing pressure to offer complete, easily accessible information on how food and beverages are grown, what ingredients they contain, and where they come from. Manufacturers and retailers will face consumer demands to make all information easily accessible to consumers regardless of household income.
2. Self-Fulfilling Practices
Consumers are more commonly practicing self-care to help manage stressful, fast-paced work and personal life demands. As part of that, consumers are prioritizing food and beverages that provide nutritional, physical or emotional benefits in addition to basic sustenance. Manufacturers and retailers can expect demand for a variety of options in food and beverage products that allow consumers more control over their diet and nutrition options.
3. New Sensations
Texture will play a more important role in food and beverage options. As consumers view food and beverages less as basic sustenance and more a part of their life experience, new textures can be a way for manufacturers to set themselves apart. Teens and young adults will drive much of this trend.
4. Preferential Treatment
The consumer demand for personalized, preferential treatment will shape many of their buying decisions. Home delivery, subscription services and automatic replenishment not only let consumers personalize their food and beverage consumption, but also help save time and money. Manufacturers and retailers can help meet this demand with products, recommendations and tech-savvy options for shopping.
5. Science Fare
Mintel expects technology to play an ever-larger role in supporting a global food supply that is under heavy strain. Companies at the forefront of these efforts are designing synthetic and cultured food and beverages that are not only less environmentally wasteful, but more nutritious and flavorful.
The full report can be downloaded here.