5 Trends to Consider with Respect to Food and Beverages
The Latin America and Caribbean region generates a wide variety of food products. Below we share 5 global trends in the food and beverage industry that will have an impact on manufacturers and suppliers.
- Added value: it is much more than simple nutrition and hydration and it is the key factor of growth in the global food and beverage industry. Consumers seek products that provide multiple benefits in terms of taste and quality, health and well-being, natural quality, comfort and ethical positioning.
- Innovation: the decline of global resources means that ingredient manufacturers have a vital role to play in helping to feed the population, leading to new areas and the use of untapped potential.
- Simplicity: consumers are increasingly demanding products made with fewer ingredients and with clear labels that are easy to understand. They choose those with less content of colorants, preservatives and that are typically more natural.
- Lower amount of sugars and calories: nutrition experts point out that sugar is the cause of several diseases and is the main factor behind obesity. Soft drink companies have spent several years seeking and developing substitutes such as Stevia.
- Restaurant at home: when the economy is unstable, consumers watch their pockets. The challenge is to recreate the restaurant experience at home through a variety of tasty selections that are similar in texture and that are commercially viable.
The food industry currently faces a new challenge that can lead to an opportunity since much of the traditional food can be reformulated with recipes from the past.
The ageing working population, in addition to an extended life expectancy and an increase in the awareness that food is a vehicle for a healthy and better-quality life, generate the need to innovate with healthier products.
Some studies show consumer preference for simpler products:
- Six out of every ten consumers prefer products with lower amounts of colorants, preservatives and that are more natural in general. This trend drives suppliers to lower chemical compounds and increase natural ingredients.
- Nine out of every ten consumers prefer products that take natural resources into account, namely, there is a clear trend for organic products. Nutrition experts have set their eyes on sugar as the cause of many diseases and as the main factor behind obesity.
Soft drink companies have been seeking and developing substitutes for years and currently there is a wide range of products with different “sweetening” formulas. Big companies such as Coca-Cola and Pepsi are at the forefront when it comes to adding Stevia and its byproducts to their sweetening portfolios.