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Top 3 Trends for Food and Beverage Companies

Food and Beverages | Thursday, August 27, 2020

Some food trends have come and gone over the years, while others have become mainstream; consumers are opting for healthier and more natural formulations that also offers unique flavors.

FREMONT, CA: The food and beverage industry is undergoing rapid transformations, with the latest trends and innovations; it is not more to say that there is no looking back for food and beverage companies. Also, the demand for healthy foods and packaged food and drink items are few of the popular food and beverage industry trends that are set to stay for a more extended period. The food and beverage companies that revitalize themselves with the evolving market trends will be successful in their venture to top the list of the customer’s preference. Like other industries, the market is facing several critical challenges that are even bigger than the expanding market competition. Technological advancements in the food and beverage industry also create challenges in terms of adoption and budget restraints.

Here are a few trends in the food and beverage industry.

Plant- and cell-based disruption

Innovation will likely drive continued momentum of plant-based foods. Consumers are growing more comfortable consuming meat products that come from labs instead of farms, and many companies are generating awareness with mass fast-food partnerships. This should allow innovations into plant- and cell-based pork, chicken, and fish to achieve even faster adoption. The growth in these categories will be accelerated by falling costs attributed to increased competition, improved manufacturing processes, and lower logistics costs associated with broader adoption. Additionally, the dairy industry, which is already struggling, will continue to be disrupted as lab-produced dairy products like butter, cheese, and yogurt can now be produced more easily through precision fermentation instead of traditional methods.  

Rising costs and increased uncertainty

Food and beverage companies are facing growing uncertainty in the marketplace. Some food companies may look for smaller warehouses to manage supplies, but rising storage costs may be prohibitive. Other uncertainties include increased labor costs and tightening workforce challenges. Some companies are also facing issues with on-time delivery due to the ongoing truck driver shortage. Consumers and food retailers will absorb only so much of the cost, so companies will have to look to new, innovative solutions to help control their costs and still grow.

Food safety, transparency, and sustainability

As consumers demand to know more about the foods they eat, food safety is now costing the food and beverage industry billions each year. It will be more critical than ever for the industry to immediately pinpoint safety issues; technologies like blockchain will continue to gain traction driven by both compliance demands from Walmart and consumers’ interest in transparency. Companies that are not required to be on blockchain technologies will increase their awareness and knowledge about blockchain’s benefits across the entire food chain—from the grower to the manufacturer, distributors, and beyond.

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