At the start of every year, we predict the top industry trends and forecast how things will unfold for the year ahead. Here are Eva’s five predictions for 2023:
- The Patagonia Effect: Thanks to Patagonia’s landmark announcement to make planet Earth its only shareholder, food businesses, retailers, and brands will be expected to become legitimate agents of change for the environment and our food system more than ever.
- Upcycled Nutrition: Food and ingredient upcycling will be viewed not only as a food waste solution, but also as a nutrition solution (capturing more value from fresh fruits and vegetables).
- Label Mania: There will be increased consumer awareness and demand for more accurate product labeling. Consumers are becoming increasingly disillusioned to catch-all categories like “organic,” “non-GMO,” and “natural,” and will be looking for trusted sources of information to help them determine which labels are actually worth paying a premium for.
- New, Niche and Cheap: To offset the additional costs associated with new and niche environmentally-friendly food products, retailers must make better use of loyalty buying programs, in-store end-caps, influencer campaigns, and other omni-channel marketing tools to drive their demand.
- Less is More: Consumers will be pleased with more minimalist menus and restaurant experiences to take a break from decision-fatigue and information overload. This will create a ripe environment for foodservice operators to start employing waste reduction strategies that will be more widely accepted by customers.