Leading global market research firm Innova Market Insights has released a list of top 10 trends for 2014. "Waste Not Want Not" and "You Can Trust Us" topped the list which was presented at this year's Food Ingredients Europe, Frankfurt.
The latest trends impacting the food industry include moves to reduce the huge amount of food waste, as consumers simultaneously adapt their habits in times of continuing austerity. These trends come as the industry focuses on regaining consumer trust, following a year of negative headlines.
"Traceability is high on the agenda and manufacturers are actively marketing this to consumers. For example, global product launch activity featuring the word 'origin' for claims purposes increased by 45% for the first half of 2013 compared to the second half of 2012, with further growth anticipated," says Lu Ann Williams, Director of Innovation at Innova Market Insights. "Among the leading market sub-categories responsible for this growth are cheese, chocolate and coffee," she adds.
As Innova analyses it, food loss during production and food waste at the retailer and consumer end of the food-supply chain will be heavily scrutinized. Ingredients derived from the waste stream will also hold enormous potential.
On the backdrop of recent food safety scares and scandals that have crippled consumer confidence, companies have their work cut out in order to regain consumer trust. Ingredient origin will be used as a marketing tool.
Consumers are reassessing their needs and going back to basics, by finding more pleasure in simpler food. There has been a shift towards home cooking, with food bringing family and friends together.
Small innovators are rising to the challenge, with the development of high quality and distinct products that have small-scale appeal, but big trend potential.
Some big food manufacturers are looking to all areas of health for a more holistic approach in providing nutritious food and beverage solutions to consumers. Clinical nutrition is being eyed as a highly profitable platform along with health.
List of 2014 top 10 food and beverage trends:
1. Waste Not Want Not
2. You Can Trust Us
3. Simpler Pleasures
4. Look Out For The Small Guy
5. Health is More Holistic
6. "New" Superfoods
7. Rise of the Hybrid
8. The Protein Horizon
9. New Stealth Strategies
10. Alternative Alternatives