The food and beverage industry is quick to adapt to trends, as manufacturers know they need to keep innovating to meet customers’ preferences and tastes. While there are indeed consumption patterns that remain well-established, many tend to be influenced by the desire for experimentation and online viral content. Meanwhile, an evolving regulatory landscape and the fight against climate change are directly impacting the behavior of consumers and manufacturers alike. This article aims to take a look at the 2024 trends in the food and beverage industry, so keep reading to learn more!
Sustainability
As the World Economic Forum suggests, the 2024 summer was the hottest so far, leading to devastating consequences such as tropical storms, drought and flooding. And since around a third of all human-caused greenhouse gas emissions have a lot to do with food, the industry undoubtedly needs to take responsibility for climate change. Consumers are also increasingly concerned about their purchasing behavior on the planet, and there’s a noticeable demand for eco-friendly products and practices.
The flood of sustainability messaging has actually led to skepticism and eco fatigue for consumers, and they are now looking up to companies to create meaningful solutions, among which improving waste management stands out the most. This will likely lead to an increased desire for upcycled products and ingredients that address the food waste problem in society. To deliver value to consumers, businesses can include upcycled ingredients in their next formulation. Furthermore, as part of their sustainability plan, many companies are collaborating with reliable suppliers such as ofi that care about making an impact on the world through eco-friendly practices.
In 2024 and 2025, there will likely be a continued focus on sustainable sourcing, production, and packaging. Companies must offer plant-based and alternative protein options and make an effort to reduce their impact on the planet by identifying areas for improvement within their procurement policies and sourcing ingredients ethically, such as collaborating with a supplier committed to providing sustainable cocoa ingredients. By doing so, they can gain a competitive edge and attract eco-conscious consumers.
Functional foods
Consumers are now becoming increasingly aware of the connection between their health and what they eat, so they are looking for functional foods that provide specific health benefits rather than just basic nutrition. The concept of functional foods isn’t really new, as traditional foods such as yogurt have long stood out for their nutritional value, as they are rich in heart-healthy fiber, oatmeal, and probiotics.
However, the modern food sector has taken the concept to a whole new level, creating specially formulated products that tackle several health concerns. There are many factors behind the growing popularity of this trend, such as the increased emphasis on preventive healthcare, the aging population who is becoming more focused on maintaining their quality of life, as well as the desire for personalization and convenience, with consumers seeking tailored health solutions they can easily implement into their busy lifestyles.
There will likely be an increase in products fortified with minerals, vitamins, probiotics, and other bioactive compounds as more individuals understand the importance of choosing foods that support their health. The data shows that 34% of global consumers have already enhanced their consumption of snacks with benefits within the past year, and for indulgent brands, this trend is a signal that they should make their products more functional using nutrition claims, among other methods.
Novel flavors
In 2024, consumers want their food and beverages to meet them where they are: namely, they are seeking flavors that satisfy their needs and wants in various moments of their lives. Almost 1 in 2 young consumers want to experience cuisines from other countries, while others are looking for locally sourced ingredients. Moreover, due to the ongoing economic and political uncertainty, consumers will keep reaching for familiar and comforting foods as a means of escape.
Interestingly, there’s now a noticeable move into mood-boosting values, with a growing number of fruit and floral pairings standing out in the conventional food and drink industry as manufacturers aim to meet the demands of consumers for feel-good foods.
However, wellness isn’t the only factor driving flavor choices. Around 40% of global consumers are looking for flavors that offer a sense of nostalgia by delivering familiar and comforting formats. Notably, 1900s nostalgia will stand out, with millennials, Gen Xers and boomers seeking to recapture joyful moments from their younger days. Manufacturers can make the most of this trend by providing them with functional and sophisticated twists on classic 1900s beverage and food favorites.
This trend will likely be reflected in an influx of plant-based ingredients, exotic spices, and ethnic cuisines that will impact food and beverage offerings, with consumers enjoying complex flavors, ranging from West African spices to Korean gochujang, which will further fuel creativity and innovation in product development.
Personalized nutrition
Personalized nutrition has gained significant attention in recent years, proven to be tremendously profitable for businesses offering it as a service. In fact, according to Statista, the global personalized nutrition market expects to double the value it reached in 2020 during the next year – more precisely 8.2 billion US dollars.
Simply put, personalized nutrition means individualized dietary advice based on various factors, including genetical, lifestyle and environmental ones. Personalized nutrition has incredible benefits because, as you may have guessed, it is tailored to each individual, taking into account pre-existing allergies and health conditions and advising them on what kind of foods to eat.
Instead of offering consumers a one-size-fits-all solution to health advice, personalized nutrition is great because it considers individual data and customizes the advice in a unique way, which is optimal for people’s health. Furthermore, it seems that this trend can fulfill an important need for consumers: understanding their own health and dietary requirements.
Tailored nutrition is possible thanks to tech advancements such as genetic testing and artificial intelligence, and it’s expected there will be ongoing development of solutions customized to each consumer’s health, genetic profile, and dietary preferences. This involves DNA-based diet plans, personalized meal kits, and mobile applications that offer real-time nutritional guidance. In order to stay on top of this trend, companies must leverage data and the latest technology so they can offer customers personalized experiences that resonate with them personally.
The bottom line
The food and beverage sector is poised for massive transformation in 2024 and beyond, driven by trends that showcase evolving consumer preferences and tech innovations. Ultimately, businesses in this industry that stay on top of these trends will thrive by successfully meeting consumer demands and remaining competitive in a dynamic landscape.
