ISM/ProSweets Review: Innova Market Insights
LIVE FROM
ISM/PROSWEETS: Unveiling the Top 10 food and beverage trends
From sustainability to product launches in the metaverse, Kiran Grewal reports Innova Market Insights’ Top 10 Food Trends, live from the Expert Stage at ProSweets/ISM 2023 Special Edition in Cologne
L
ive from the Expert Stage at ProSweets 2023 in Cologne, Kennedy’s Confection reports on the Top 10 Food Trends from Innova Market Insights, delivered by Nicole Jansen, Customer Success Team Leader.
Trend 1: Redefi ning Value
“Our number one trend focuses on consumer value, particularly during times of infl ation, where companies that can position themselves with a distinct value in the market are thriving. One noteworthy example is the rise of sustainability, such as solar-dried products, which resonate with customers seeking environmentally friendly options. These offerings tap into the desire for solid values and garner support from conscious consumers. “Additionally, in the realm of healthy snacks, probiotic foods have gained traction, driven by consumer demand for both support and freedom in their dietary choices. This exemplifi es how customers actively seek value in products that align with their preferences, showcasing the importance of delivering products that meet these evolving demands.”
Trend 2: Aff ordable Nutrition “Our next trend focuses on affordable nutrition, which is highly
16 Kennedy’s Confection May 2023
relevant in today’s context as rising prices impact our ability to afford groceries. Ensuring that everyone has access to essential nutrients at an affordable price requires innovative solutions from the industry. Shocking statistics from the FAO show an increasing trend in people facing hunger, emphasising the urgency of addressing this issue. Consumer surveys reveal that price has become a signifi cant factor in food and beverage purchasing decisions, with many individuals struggling to obtain the necessary nutrients. Therefore, the industry must develop products driven by health, affordability, and naturalness, refl ecting the changing priorities of consumers. The emergence of private label brands, witnessed by a 33% growth rate in new product launches with budget claims, exemplifi es the industry’s response. For instance, Asda’s introduction of ‘Just Essentials’ in the UK aims to provide nutrient-rich products in basic diets, catering to affordability without compromising nutrition.”
Trend 3: Generational Push “Our third trend, titled ‘Generational Push’ highlights the integration of diverse demands and desires among different consumer generations. Each generation, from Gen Z to boomers, shares common expectations of health benefi ts and affordability
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