2019 is expected to become a year of both surprise and no-surprise for food and beverage businesses. Food and beverage is prognosticated see some major trends that are sure of rocking the industry in the new year – for instance, deals that introduce new ideas, high focus on consumer health, and launch of new and attractive products. On the other hand, food and beverage companies are anticipated to draw the customer’s attention while riding on paradigm-shifting innovations with the element of surprise.
Without wasting much time, let’s jump into 2019’s most-anticipated food and beverage trends.
Plant-based Meat is Pushing Companies to Rethink the Idea of Meat
Crab cakes, plant-based tunas, burgers, and other exciting products are expected to surface this year. Although plant-based meat currently accounts for a small share of the retail meat market, it is foreseen to gain prominence in the near future. Even plant-based milk is forecast to show significant growth in terms of sales.
Companies to Label Products as “Better-for-you, Natural, and Healthy”
It is difficult for consumers to change or skip foods that are “better for them.” Companies are expected to gain from the mindfulness of consumers about the role that certain foods and beverages play in improving or sustaining their health.
Sustainability – Packaging is the Elephant in the Room
As food industry practices become more sustainable, companies are prophesied to up the level of commitment to consumers and also the food and beverage industry. However, packaging is still a tall barrier that companies need to face. Nevertheless, high investment in recycled plastic and regenerative solutions is predicted to help deal with the situation.
From a ‘Busy M&A’ 2018 to a ‘More Smaller M&A’ 2019
2018 has already seen a large number of merger and acquisition activities. Stepping into the new year, giant food and beverage corporations are foretold to spend most of their time in digesting their multi-billion-dollar agreements. The emphasis can be more on swapping assets, jettisoning certain brands, and pruning product portfolios for the better. This can also help them to have a sharper focus on their core operation.
First CBD, Later Marijuana-based Products to Enter Market
CBD is expected to become a popular functional ingredient very soon with the U.S. legalizing hemp, a cannabis, and its derivatives. However, CBD is still prohibited in some parts of the country. Nonetheless, food and beverage companies are anticipated to become desperate to include CBD-based products in their portfolios, considering the large fan following they enjoy.
Functional Foods are No Longer a Niche Segment of Food and Beverage Market
Functional foods are predicted to become part of most American diets in 2019. With more fruits and vegetables added to food products, amid growing health concerns and ever-rising medical costs, functional foods are foretold to attract robust demand in the near future.
April 26, 2019
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