If there’s one thing that’s constant among humans, it’s the fact they need to eat. When you have an increasing disposable income, though, one might be a bit more demanding with food. The changing consumer palate, tech, and conscious eating all make the 2019 food trends exciting:
1. Automated Food Manufacturing
It’s a good time for food manufacturers in the United States. According to IBISWorld, its revenue could grow up to 1.5% annually from 2018 to 2023. Within the same period, exports would increase by 3.6%. The ongoing trade wars and the need for premium goods and personalization can increase production costs. So do the labor shortage.
To reduce expenses, food manufacturers are focusing on investing in tech that can automate their processes. These include working with a filling equipment manufacturer. This business specializes in industrial machines that speed up filling and packaging phases.
2. Food Delivery Services
Online food delivery in the United States has a lot of room for growth. Between 2019 and 2023, it could achieve 7.3% of compound annual growth rate (CAGR), eventually beating that of manufacturing. For this year, the revenue can be as much as $18 billion.
Many factors fuel the demand for on-demand online delivery. One of these is better tech. Users can now choose among multiple channels for ordering. These include social media sites and mobile apps. Consumers can also pick among a growing number of restaurants that embrace this business model.
3. Local Produce
More consumers are buying their produce locally, particularly the farmer’s market. According to the US Department of Agriculture (USDA), the number of markets in the country grew by 7.07% from 1994 to 2013. In 2015, there were at least 8,500 of these markets and no less than 40,000 farms. Within the same period, these communities earned over $700 million.
The farmers’ markets are popular for a variety of reasons. One, consumers believe local produce is healthier. Second, they can potentially save more money. They can buy only the quantity they can afford. The sellers can also offer their goods cheap since they can avoid other costs such as long-haul transport and storage. Third, they benefit communities that don’t have easy access to the supermarkets. Some places in America still don’t have supermarket chains, especially low-income neighborhoods.
4. Sustainable Packaging
Contrary to popular belief, consumers do judge the book by its cover or, in this case, they can perceive the quality of the product according to its packaging.
To be specific, buyers these days prefer sustainable packaging. It can mean one they can reuse or recycle or a packaging that doesn’t end up in the landfill. In fact, they’re ready to pay a much higher price for such product. A survey by BillerudKorsnäs revealed that over 72% of respondents would be willing to pay a premium.
Food is one of the lucrative industries to be in because the demand is always there. Businesses, however, should remember it’s also competitive. Only those who innovate, pay attention to the trends and provide something noteworthy that can sustain in 2019 and, hopefully, in the years to come.