The food and beverage industry underwent some radical changes in 2020. In fact, most industries across the board look drastically different than they did at the end of 2019. With so many events that impacted us on social and economic levels, a global pandemic among them, a major shift in some areas is expected. Your food business consultant can help you through this time of transition, but this information will get you started.
As companies tried to respond to a quickly changing consumer demand, new trends began to emerge, pandemic food and beverage trends, if you will. They clearly reflected the current state of our society and what is on consumers’ minds. Now as we enter 2021, the emerging trends of fourth-quarter 2020 are now very apparent. Is the crisis over? No, not yet. But it’s better.
These trends in the food and beverage industry are worth noting. They could shape your production, distribution, and most of all, sales.
It Starts With a Story
Consumers want to hear the story behind the company and the product, says the report “Top Ten Trends 2020” conducted by Innova Market Insights. In fact, 56% of consumers around the world say that their purchasing decision is strongly influenced by the story around a brand. These stories tell of the brand’s stance on the community, sustainability, and the environment. The consumer can learn the origin of the ingredients and if that company is one they want to support based on their ethical or moral standards.
Health and Wellness
One trend that is really no surprise is the growing interest in health and wellness products. There’s nothing like a pandemic to spur people into taking a more focused interest in their health. As people are eating healthier and looking for food and beverage products that enhance health, it seems that the line between supplements and food is becoming increasingly blurred. More food products are making bolder health and wellness claims and consumers are snapping them up.
Plant-Based Foods
Plant-based meat and dairy alternatives are no strangers to grocery store aisles but foods that fall outside of that parameter are enjoying a surge in popularity. In 2020, more than 67% of new products that claimed to be plant-based were not directly within the meat or dairy categories. This is a rapidly growing sector that is well worth tracking. One area that stands out in regard to growth is plant-based confectionery products.
Back to Basics
As people were required to shelter in place or quarantine in their homes, cooking at home suddenly came back into vogue. The basics, the pantry staples, had an incredible surge in early 2020 when the pandemic first took hold. The popularity has remained mostly consistent as home chefs get creative and those new to cooking improve on their talent and skill. Dried beans, rice, pasta, sauces, broth or bouillon, and spices are gaining popularity, but specialty staples like applewood-smoked salt, vegan corn dogs, and hearts of palm pasta are also pretty hot right now.
Tighter Budgets
There are a lot of food and beverage trends out there, but one that resonates with all of us is a tighter budget. Consumers have spent months in lockdown, many have lost jobs or had their work hours reduced – most are struggling to make ends meet. In this time of economic uncertainty, people are going to be looking for ways to get the most for their money. They will be cutting corners wherever they can and looking for products that do double duty, such as immune boosting and offer multi-serve or variety packages. Shelf stable products are also rising quickly to the top.
A Food Business Consultant can Help You Make Adjustments to Meet Consumer Demand
The food and beverage industry is growing and changing like never before. Let us help you make the necessary adjustments so that you can meet consumer demand and increase revenue. As a food business consultant, we can look at current trends as well as consumer behavior and help you create a strategy that will keep in at the top of your game. Contact The Greater Good today to find out how we can help your brand keep up and even surge ahead in the quickly evolving food and beverage market.