Check out our predictions on the food service trends we expect to see in the new year. Job Trends Marketing Trends Technology Trends Service Trends. Jenny Zegler, associate director of Mintel Food %26 Drink, agrees that low prices won't be the only sign of value for many consumers, especially those with disposable income. ADM's Schwan has a similar perspective.
New functional products that focus on mental health include freeze-dried, caffeine-free Velty coffee with functional ingredients such as lion's mane and reishi mushrooms to reduce stress and strengthen the immune system. Nightfood, which proclaims itself as the “sleep-promoting snack company”, launched its new Prime Time chocolate chip cookie this summer with ingredients and nutrients that, according to research, can help with nighttime relaxation and improve the quality of sleep, according to the company's website. As supply chains continue to improve, there will be more products on supermarket shelves and there will be more competition for the shrinking consumer portfolio. Food and beverage companies in the middle market should expect that greater competition for shelf space will result in higher opening rates and more promotions aimed at protecting the market share of domestic and white label brands and reaching new homes.
Unpredictable and volatile weather increases food costs and disrupts agriculture and food distribution. The decline of malls and physical retail stores has led restaurants to become centers of socialization, creating an influx of canteens and food markets. However, the food service and restaurant industries may not plan to fully return to normal, as there will continue to be an interest in cooking at home and buying fresh food. The Center for Innovative Food Technology (CIFT) and JobsOhio recently commissioned a business intelligence group, TeEconomy Partners, to conduct a study on the current and future state of the food industry.
The NRA report predicts the possible participation of streaming services, and these services could partner with existing delivery companies to offer comprehensive entertainment and restaurant subscriptions. To retain employees, food and beverage companies in the middle market should consider offering flexible work arrangements, improved benefits, and on-the-job training. Comfort foods are likely to continue to be in demand regardless of nutrition information, but the Delphi panel expects restaurants to offer healthier options, clean ingredients, such as fresh produce, and locally sourced foods. Households are buying less food for domestic consumption than pre-COVID forecasts, even though they are spending more than ever on food and beverages.
Food manufacturers face many options for developing their engineering, food safety and product development.