Food industry

Overview

Food industry is becoming more transparent, focused on healthy and organic produce. Technology wise, it is changed by rise of interconnectivity of devices and their smartness like automated ordering, cooking and serving. Acceptance is growing for exotic foods and ingredients, as well as growing public pressure for decreasing use of plastic and reducing plastic waste.

Based on following companies:


Supported by:

Details

Socio-cultural trends

  • Rising health awareness and focus on wellness creates need for transparency of ingredients and sustainable production, special attention to nutrition and content
  • Diversified personal food choices and intolerances create opportunity for innovative alternatives
  • Smaller households, more individual -focused servings
  • Increasing demand for convenience and efficiency, market need of fast and healthy food
  • Demand for tailoring and customisation
  • Exclusion diets, growing food intolerances
  • Importance of ethics: transparency of ingredients, emphasis on certain exclusions and changing perception of meat, guilt - free food

Technological trends

  • Tech-savviness of younger users demands omni-presence and use of online marketing channels
  • Proficiency in Mobile Technology and need for digital presence
  • Internet of Things - interconnectivity of devices and multi-functionality that can be controlled remotely
  • Use of technology to increase operational efficiency in production
  • Social media marketing
  • Smart devices for ordering, cooking and serving the food


Economical trends

  • Growing Middle Class with higher purchasing power increases willingness to spend premium on value-added offering
  • Transforming the model of value capture: from “product” to “product as a service”, experience that customers are ready to pay for the story of the product
  • High saturation of small and medium size businesses


Environmental trends

  • Moving increasingly towards non-GMO products and regulations
  • Demand for transparency and traceability of ingredients
  • Increase in the attention for food wastage
  • Growing interest in recycling and giving back to community the unused food
  • Climate change, global warming, Greenhouse effect
  • Demand for eco – material in packaging and organically grown food

Political trends

  • Industry globalisation, more efficient global supply chains
  • Political economy of trade
  • Stricter regulations (eating and farming regulations)