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How to catch more “prudent” consumers in 2023?

 

 

On November 9, Innova Market Insight released its annual report on the top ten global food and beverage trends for 2023. The report, based on a global consumer survey, revealed that the theme of “redefining value” was the top trend in the food and beverage industry.

According to the survey, more than half of consumers worldwide have become increasingly concerned with cost and cost performance in the past year. However, they still prioritize fresh and locally produced food with functional ingredients which are packed byiml plastic container. Additionally, consumers expect enterprises to bear the responsibility of environmental protection, making sustainability a crucial factor in their purchasing decisions.

The report identifies ten trends that are shaping the industry and influencing consumer behavior. These trends can be classified into four main categories: affordability, health, sustainability, and innovation.

To catch the attention of more prudent consumers, businesses need to focus on developing sustainable alternatives to these types of packaging,custom iml packaging helps. This can include using biodegradable or compostable materials, or even using innovative new materials that can be recycled more easily.

One example of a company that is leading the way in sustainable packaging manufacturing is Ecovative Design. This company uses mycelium to create a range of sustainable packaging products, including protective packaging for electronics and even furniture.

The first three trends fall under the affordability category. “Redefining Value” is the top trend, followed by “Affordable Nutrition” and “General Push.” Consumers of all ages want healthy and affordable food, but their priorities differ. Gen Z prioritizes taste over price, while millennials consider price before taste. Gen X and Baby Boomers prioritize nature over taste.

The next three trends focus on sustainability. “Plant-based” emphasizes the importance of prioritizing plant-based ingredients and sensory experiences. “Farming the Future” encourages a positive rebranding of farming, implementing farming technology, and a benefit-driven approach. “Quick Quality” encourages the development of convenient and engaging food products that instill pride in consumers.

The final four trends are centered around innovation. “Developing Digital” highlights the importance of integrating technology into the food and beverage industry to enhance the consumer experience. “Revenue Spending” encourages consumers to seek out bold brands and discover new products. “Unpuzzle Health” emphasizes the importance of trust, clear labeling, and navigation choices. “Positively Imperfect” promotes knowledge-sharing and celebrates effort over perfection.

In conclusion, the food and beverage industry is evolving rapidly to meet the changing demands of consumers. Innova Market Insight’s report on the top ten trends for 2023 highlights the importance of affordability, sustainability, health, and innovation. Companies that can adapt to these trends and deliver high-quality products that meet consumer expectations will succeed in this competitive marketplace.

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