Emotional well being, a redefinement of quality and a sense of community will be three key trends that define growth in the global F&B market this year.
Research by Mintel suggests this year will see the growth of F&B products for mental health and wellbeing and that people will focus more on reducing health risks associated with unhealthy eating.
“Functional formulations and emotionally engaging multi-sensory products will help food, drink, and foodservice brands command a larger share among a myriad of mental and emotional health options,” said Alex Beckett, associate director at Mintel Food & Drink.
The second trend will be “quality redefined”, where consumers will find a return to what is essential, focusing on minimal consumption and getting the best returns. Consumers will also expect more environmental and ethical-focused products.
“The focus on getting the best value for one’s money will motivate brands to be more transparent about product price by providing details about the ingredients, processes, and people that are reflected in a product’s price,” he said.
Mintel also said in the next five years, brands investing in seamless retail and equitable access to healthy food will come out on top.
This year will also see a consumer trend where they use brands as a form of self-expression and reconnecting people.
“Food, drink, and foodservice brands can take advantage of their positions as common interests and passions to which consumers can tie their identities and actively bring individual fans together,” Beckett said.
“Bound by the brand(s) they have in common, communities will expand people’s social circles and introduce collective ways to make a difference.”