Waste Reduction is Top Food and Beverage Trend for 2014
The latest trends impacting the food industry include moves to reduce the huge amount of food waste, as consumers simultaneously adapt their habits in times of continuing austerity. These trends are among Innova Market Insights' Top 10 Trends list, which is the culmination of ongoing analysis of trends and developments in new product launch activity worldwide. The market researcher continues to be successful with its annual trend predictions. For example, "Sustainability Replaces Organic" (2007), "Go Natural" (2008) and "Boom for Protein" (2012), all still have a significant bearing on the global industry today.
Highlights from the 2014 top 10 food and beverage trends list are:
- Waste Not Want Not. For some time now manufacturers' sustainability efforts have been zeroed in on, with a more recent shift in focus being to reduce food loss or waste, wherever possible. Food loss during production and food waste at the retailer and consumer end of the food-supply chain will be heavily scrutinized. Ingredients derived from the waste stream will also hold enormous potential.
- You Can Trust Us. Recent food safety scares and scandals have crippled consumer confidence. Companies have their work cut out in order to regain consumer trust. Ingredient origin will be used as a marketing tool. The consumer should ultimately benefit from higher quality foods that are clearly traceable.
- Simpler Pleasures. Consumers are reassessing their needs and going back to basics, by finding more pleasure in simpler food. There has been a shift towards home cooking, with food bringing family and friends together. Where consumers shop has also been affected, with the so-called "hourglass model" still in effect. This relates to growth on the budget and premium sides, but the center ground being squeezed. Value packaging and "good value" claims on the products themselves and in-store value promotions are prospering
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