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2020 was a year of unpredicted events and turbulence, but as we pass into the new year, it's time to understand what it has in stores for us. The food and beverage industry underwent fast growth over the past couple of years; even the pandemic couldn't halt its progress. We witnessed various food trends from Dalgona coffee to Glitter Wine and everything else; this sector moved from imitation to innovation.
With so much happening so quickly, brands must understand how they got to this point and, more importantly, what would come next? Fortunately, we have done the research, and here are the top trends for how 2021 would look for our beloved Food and Beverage Industry.
Even though we enter the year with hopes of stability and a glimpse of normality that we are used to, the pandemic is expected to still hold and direct some significant food and beverage industry trends. Numerous brands are looking to launch food and drinks with immunity-boosting ingredients. New technology is supposed to drive products like bio-hacked foods to gain a competitive advantage. On the other side of the spectrum, a huge number of nonvegans are boarding the train for vegan food trends, giving in the temptation for nutrition-conscious consumption.
With the predictions of industry relying more on the shoulders of technology, the next trend is to enter consumers' homes. Industry experts have joined heads and concluded that emphasizing online shopping is a must to stress consumer convenience. This has led to the domination of e-commerce websites in both B2C and B2B worlds.
According to the reports published by the US Department of Agriculture, approximately 21,435 new food products and drinks are released every year. Where many would love to forget the events of 2020, it has left us with such deep marks that will be felt for many years to come. The food and beverage industry was also not immune to the change wave. The pandemic changed the way consumers purchase and perceived products forever. Health and wellness are now the major concern for consumers, and brands need to tap into that opportunity.
After deliberating on the insights provided by industry experts, here is a breakdown of the top trends that are forecasted to dominate the next fiscal year.
Most of us spend the entirety of last year trying to stay healthy, and that reflected in our food choices as well. Reports suggest that people were more interested in consuming foods and drinks that were healthy and promoted their immunity. The same trend is to follow us in 2021 as well. Companies are trying to add benefits and laying claims that their products prioritize health. Immunity booster ingredients are predicted to receive a massive sales bump.
As a result of the uncertainty of what the new year would look like, stress is all-time high. Consumers are expected to dive towards comfort food and nostalgia. Brands are incorporating ingredients like CBD, adaptogens, and l-theanine to help consumers unwind. Another way to satisfy consumer demand could be through reminiscent of childhood favorites. Familiar product types with enhanced ingredients are supposed to do well.
Not very long ago, when someone said food deliveries, Pizza was the first thing that comes to mind. But that has changed; now consumers, as well as retailers, are relying on e-commerce websites for food deliveries. Data from Tradewheel.com expresses that the industry as a whole had a 20% increase in global online deliveries. Along with being highly convenient online food delivery also minimizes the concerns of pandemic spread.
The rise in the rate of pandemic spread has gotten consumers to the stock of groceries for weeks or even months. An explosion of innovative products is expected. Companies are working on introducing dairy alternatives, beverages to boost immunity, multi-serve products, and shelf-stable options to appeal to the latest consumer needs.
Since 2020 made us focus on health, consumers now want to know where their food and coming from, who is making it, and how it is reaching them. Experts believe that this trend will follow us in 2021 as well. Transparency throughout the supply chain is going to be the most dominating factor. Technology can assist buyers in monitoring food quality and can offer digital expiration dates. With every six in 10 customers interested in knowing the origin of food, bands and marketers must focus on the trend of transparency.
Since people can not travel to experience food, they will need food products that can offer an adventurous experience at home. Not surprisingly, there is expected to be amplified demand for unusual flavors. Globally inspired products are being introduced to customers in lieu of vacations. Brands are supposed to experiment with Mediterranean flavors, Latin American flavors, and flavors from Asia.
We can predict that the following trends that are a logical sequel to the evolution of this industry. E-commerce websites are on the rise. We can expect transparency, customized products, immunity boosters, specialized drinks, and so much more. Tradewheel.com articulated that the first quarter of 2020 saw a 67% year-on-year increase in ingredient and condiment sales.
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