FutureBrand Milan released “The Future of Food” report, which offers valuable insight into consumers’ changing relationship with food, and guidance on how marketers and food operators can prepare to meet emerging needs. The study focused on different global markets and included interviews with several industry professionals, resulting in five macro-trends that will affect the food industry worldwide.
One of the macro-trends is dubbed “the ethical dilemma.” It analyzes an increasing awareness of the environmental impact of consumer purchases, yet the role of convenience as a leading driver of sales. Specifically, fair price and speed of purchase seem to determine a consumer’s preference for one product over another, despite the fact that consumers care about the impact of their purchases on the planet and their health.
This poses a challenge for both consumers and brands. Consumers struggle with the dilemma when purchasing food, while brands need to cater to an expectation for convenience, and a need for more sustainable products, in order to thrive among new expectations. The report highlights several brands that successfully meet the challenge, including farm-to-table delivery services, upcycled foods, recyclable packaging, and more.
The other macro-trends identified in the report are the reinventing revolution, the power of food, the flavor migration, and the “new natural.” Respectively, the trends comment on the role COVID-19 played in redefining industries most reliant on agriculture, an increasing awareness of nutrition among consumers, a shift to buying local, and a trust in technological developments in the food sphere.
You can read the full report here.