Addressing food waste and health are going to be two of the big trends food manufacturers need to consider in the year ahead, according to Innova Market Insights.
The list is the culmination of ongoing analysis of market trends, developments and product launches around the world.
One of the key challenges manufacturers are expected to face next year is regaining consumer trust, with recent stories regardinginaccurate labelling and misleading marketing material leaving a bad taste in cosumers' mouths.
Innova lists five of the big trends for 2014
1. Waste Not Want Not. For some time nowmanufacturers’ sustainability efforts have been zeroed in on, with a more recent shift in focus being to reduce food loss or waste, wherever possible. Food loss during production and food waste at the retailer and consumer end of the food-supply chain will be heavily scrutinised. Ingredients derived from the waste stream will also hold enormous potential.
2. You Can Trust Us. Recent food safety scares and scandals have crippled consumer confidence. Ingredient origin will be used as a marketing tool. The consumer should ultimately benefit from higher quality foods that are clearly traceable.
3. Simpler Pleasures. 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. Where consumers shop has also been affected, with the so-called “hourglass model,” still in effect. This relates to growth on the budget and premium sides, but the centre of the industry is being squeezed. Value packaging and “good value” claims on the products themselves and in-store value promotions are prospering.
4. Look Out For The Small Guy. 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. Social media platforms have provided more opportunities for small companies to develop a market by directly targeting niches across their home market and abroad.
5. Health is More Holistic. 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 alternatives, such as Traditional Chinese Medicine.