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Food and Beverages | Friday, October 16, 2020
The food and beverage industry is on its way to improve the revenue, production, and manufacturing implications.
FREMONT, CA: The food and beverage market is changing rapidly, and managers are often closer to consumer needs and trends than larger businesses. Successful startups are finding the space between the traditional brands and categories and creating new ones that meet some specific demands for the way customers are consuming. So, if the startups are offering a great-tasting, gluten-free, and Keto-inspired product, it could just be that the tech giants haven't seen this market. This is the place where the new opportunity in the food and beverage industry is found.
Another point to consider is access to manufacturing and communications channels. In the previous years, food tech giants were the only hope that can afford the TV and other media needed to grab the attention of the customers and clients. So, when the consumers went to the grocery store, they looked for familiar brands. Also, big companies owned all of the manufacturing assets or the facilities, and smaller companies couldn't compete.
At present, of course, has all changed in the world of social media, and the world of contract manufacturing. Not only the smaller companies find their customers through social media channels, but they can also hire contract manufacturers to create new products that meet the needs of consumers. There are also a wide variety of incubators and accelerators popping up around the country that help to offer guidance and resources to entrepreneurs and startups.
It's still an incredibly difficult task to launch and grow a successful food or beverage business, but the boundaries have never been lower. And organizations like successful tech giants in the food industry are emerging to help get entrepreneurs and their startups the connections they need to take advantage of this incredible, innovative time in what was once a little bit of a sleepy industry.