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.

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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)

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