How is the food industry changing
How is the food industry changing - why should we worry about it?
- It is an indication on the changing consumer behaviour, what your prospective customers are buying.
- It is also a sign that food manufacturers will be producing more of one product instead of another, knowing this is crucial to maintaining cost and ensuring adequate supply.
- If you know what your customers are looking for and can engage the correct suppliers, the former will ensure good revenue, while the latter will keep cost low, giving you good profitability.
**Check up the Market Outlook below and enjoy complimentary tickets to learn more about how these changes can affect you. Use the code for complimentary tickets: ocm05jn23 (while stock lasts).
Free workshop - collaboration with Skills future Singapore and Temasek Polytechnic. With full access to free market reports.
Learn more about this Selling Food Online workshop.
The food and beverage industry has undergone significant changes in recent years, which are expected to continue. Some of the key trends and developments that are shaping the food industry include:
- Increased focus on sustainability and environmental impact: Consumers are increasingly concerned about the environmental impact of their food choices (lowering the carbon footprint is one such priority), and companies are responding by prioritising sustainable practices, such as reducing food waste, using renewable energy, and sourcing ingredients from environmentally responsible sources.
- Rising demand for plant-based options: There has been a growing trend towards plant-based diets as people look for healthier, more sustainable food (many believe this will lead to a decrease in carbon footprint), and more humane food options. This has led to an increase in the number of plant-based meat, dairy, and egg alternatives on the market.
3. Growth of the organic and natural food sector: Consumers also seek more natural and organic options, as they perceive these products to be healthier and more environmentally friendly. As a result, the organic and natural food sector has experienced significant growth in recent years.
4. Increased focus on health and wellness: Consumers are becoming more aware of the impact of their food choices on their health and are seeking healthier options. This has led to an increase in demand for foods that are low in sugar, salt, and unhealthy fats and high in nutrients.
5. Technological advancements: The food industry is also being impacted by technological advancements, such as using automating manufacturing process and artificial intelligence in food production and developing new plant-based and lab-grown meat alternatives.
6. Food Supply chain: The disruption of supply chains in 2022 has resulted in difficulties for food companies all over the world. Events such as the war in Ukraine to China closing the borders, impacted F&B everywhere, and this has led to companies re-evaluating their food sources (expanding their suppliers network and increasing their food supply sources).
7. Digital (Social Media): It is a crucial component of the marketing and branding strategies of many food companies. It allows them to connect with consumers, promote their products, and build their brand in an increasingly digital world. The ability to connect with the target audience is a competitive advantage in a society where people consume content (looking at social media posts) before consuming the actual products.
If you would like to learn more about the key changes in the food industry and consumer demands, join us for the upcoming Food Industry Market Outlook (supported by Temasek Polytechnic & Singapore Malay Chamber of Commerce and Institute).
Use the code for complimentary tickets: ocm05jn23 (while stock lasts).
If you enjoy article similar to how is the food industry changing, check out other food and beverage articles via the link.
About US | OCM Profile
OCM (OnCoffeeMakers.com) was started in 2007 with the first webpage about coffee machines. And for a number of years, we focused on helping people find their desired coffee machine (we still are helping folks with that! So, if you are looking for coffee machines for office or restaurants - check out the link).
In 2010, we started getting enquiries on restaurant marketing and we start to help food and beverage brands with their marketing. Below are campaigns and events that we have done over the years:
OCM's campaigns: F&B Marketing Ideas by OCM
OCM's Events: F&B Industry events by or with OCM
Check out this restaurant marketing guide to learn more about the many campaigns and companies we have worked with.
Since then, we have also created many marketing workshops and classes for the F&B industry. Many of these modules are still running in tertiary institutions such as Temasek Polytechnic Skillsfuture Academy and also ITE College East COC classes, below are some snippets of our lectures and workshops:
OCM’s F&B workshops: Food and Beverage Marketing Lectures | Workshops - click to watch classes on customer journey map, JTBD and more.
So, if you are looking for industry practitioners to help you scale your coffee or F&B businesses, do drop us a message or book an appointment. Do also check out our various social media platforms on regular F&B and coffee market updates:
For regular coffee (F&B) related videos: OCM Youtube
For Daily Coffee Inspiration (fun coffee content): OCM IG
For insights into the coffee (F&B) industry: OCM LinkedIN
PS: For the coffee lovers, we continue to share coffee articles (and videos) and have also started a free coffee class section (with free online coffee training supported by coffee partners).
