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Food and Beverages Tech Review | Friday, June 23, 2023
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The development of next-generation food production and processing technology is driven by the urgent need to produce 60 per cent more food to feed the estimated 9.3 billion people globally by 2050.
FREMONT, CA: The food industry is being revolutionised in large part as a result of the way individuals eat, technology, and public expectations. From the ingredients they buy to the equipment they use for food preparation, everything is changing.
Renewed Focus on Sustainability
When it comes to food, consumers care about sustainability. 54 per cent of individuals who responded to an IFIC study stated they thought sustainability was very important or moderately essential. Food waste is a component of food sustainability to be aware of. Globally, 1.6 billion tonnes of primary product equivalent food are lost or wasted, and 28 per cent of agricultural land is used to grow that food. This has a total annual economic impact of around 750 billion USD.
Increased Operational Costs
Inflation-driven increases in operational expenses are expected to have the largest impact on the food processing industry over the next five years. Raw material shortages also a role in the increased operational expenses of food production. Consumers now pay more for food and beverages at retail stores. Food producers need to be conscious of how pricing may impact the perception of their brands. To continue to be successful without alienating devoted clients, a careful line must be walked.
Changing Habits: Healthy Food, Healthy Body
Although healthy foods have long been popular, this has brought about a new emphasis on eating to keep healthy. For instance, shifts in consumer behaviour demonstrate that people are becoming increasingly concerned about their immune systems and how their dietary choices may affect them. As a result of the Covid-19 pandemic, 57 per cent of global customers are now more concerned about their immunity. This is fueling demand for goods containing probiotics, prebiotics, and postbiotics.
Changing Habits: The Rise of Plant-Based Foods
Products made from plants are becoming progressively popular, taking over freezers and supermarket shelves all over the world. The market for plant-based meat is already worth over 10 billion USD; by 2025, that figure is predicted to treble. Initially reserved for vegans, these alternatives are increasingly popular among vegetarians, flexitarians, and general carnivores, who make up a sizable share of the sector's potential clients and are fueling market expansion. Naturally, sustainability is also a crucial consideration. Consumers worry about the long-term sustainability of meat-based food items over plant-based alternatives because they are frequently inundated with reports of animal maltreatment in the agriculture industry. As a result, the industry has experienced significant short-term growth.
Manufacturers have little choice but to give in to the new demand as consumers take more control over the food they want. This, along with the requirement for technical innovation, will probably make this year the year of improvements and R&D.
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