Food Trends Forecast 2023

BY MEGAN EADE  |  25 JANUARY 2023

We look ahead to the trends expected to shape product development and innovation over the next 12 months.

 

 

 

Plant-based reboot

Under pressure to turn the tide on waning consumer interest and slowing sales, the plant-based market looks set to rise to the challenge.

Demand for clean label is fuelling a new wave of concepts, where taste, texture and recognisable ingredients are all part of the brand story. This shift in focus means developers must now find new technical solutions to replace established ingredients that have fallen out of favour.

Emerging technologies are also opening up exciting future possibilities. Recent US FDA approval of lab grown meat takes these products one step closer to becoming a commercial reality within the next few years. While precision fermentation continues to gain traction – and investment – as a potential source of alternative protein for our ever-expanding global population. 

 

 

Value vs worth

The cost-of-living crisis means producers must reframe innovation to create value for the consumer.  But this isn’t simply a cost cutting exercise.


First of all, bear in mind that that perception of value doesn’t always start and end with the cheapest option. For something truly unique and delicious, consumers may see the ‘value’ in splashing out. Think special occasions, innovative flavour combinations and lifestyle or diet-led choices.  


Secondly, value is equally important to consumers as nutrition – both came out on top in a recent global Mintel study – so ticking both boxes in one product will maximise consumer appeal and loyalty. It’s a challenging balancing act and demands astute formulation decisions. 


Lastly, don’t forget consumers are increasingly savvy and well informed when it comes to their favourite products. So although manufacturers may want to mitigate rising costs with quick-fix ingredient swaps, they need to exercise caution. Reformulation should always be approached with care and the correct tools to guarantee success.