Global Food and Beverage Top Ten Trends for 2024
On the evening of November 16, Innova Market Insights released the top ten trends in global food and beverages for 2024. “Ingredients: Taking the spotlight” claimed the top spot among these trends. Research indicates that one-third of consumers have responded positively to the key ingredients highlighted by businesses.
“This is not only because the ingredients in a product provide health benefits, but also because consumers may form positive associations with a product’s flavor, texture, or other aspects based on its ingredients,” explained Ms. Williams, Global Insights Director at Innova Market Insights, during the press conference. “Consumers draw inspiration from popular products or similar associations found on social media, and over the years, information about ‘superfoods’ and ‘beneficial gut bacteria’ promoted online has also influenced consumer perceptions.”
It is worth noting that Innova Market Insights’ “Global Food and Beverage Top Ten Trends” report is consistently based on the company’s consumer research and tracking of new food and beverage products. The former involves direct research with consumers to identify changes in their behavior and preferences, while the latter analyzes which products are being introduced to the market and how their packaging showcases the product and its components.
So, starting from consumers and products, what are the key points to pay attention to in 2024? In this article, FBIF will provide you with a comprehensive interpretation of the trend report.
Overview: Innova 2024 Global Food and Beverage Top Ten Trends
Let’s first understand what the top ten trends in global food and beverages for 2024 are, according to Innova.
- Trend 1: Ingredients: Taking the Spotlight
- Trend 2: Nurturing Nature
- Trend 3: Prioritizing Prevention
- Trend 4: Plant-based: The Rise of Applied Offerings
- Trend 5: Local Goes Global
- Trend 6: Home Kitchen Heroes
- Trend 7: Indulging in Health
- Trend 8: Oceans of Possibilities
- Trend 9: H2.0: Quenching the Future
- Trend 10: Minimizing the Noise
Starting from consumers and consumer products, what key points can be focused on in 2024?
Trend 1: Ingredients: Taking the Spotlight
“Ingredients: Taking the Spotlight” takes the top spot among the top ten trends. Food brands can highlight the star ingredients in their products to respond to consumers’ positive attention to raw materials.
The latest global consumer research from Innova reveals that one in three respondents actively seeks information about key ingredients on product packaging. Additionally, 42% of respondents consider protein to be the most important component. Brands can enhance consumers’ purchasing decisions by showcasing the distinctive features and value of the main ingredients through storytelling and visual cues.
For example, a tea beverage introduced by the U.S.-based company Oobli features sweet proteins, a fact emphasized both on the product packaging and in promotional materials.
The brand indicates that it utilizes precision fermentation technology to produce sweet proteins, ensuring sweetness while maintaining zero calories. Therefore, this iced tea can offer consumers seeking a “guilt-free” beverage experience with lower sugar and calorie content. Additionally, the use of precision fermentation in the production process implies that it avoids the environmental impacts associated with monoculture farming, soil degradation, deforestation, and similar issues.
According to the Innova Global New Products Database, the annual compound growth rate of new pre-packaged main dishes featuring mushrooms (including specific mushroom varieties) as the main ingredient was 12% from the second half of 2018 to the first half of 2023.
In September of this year, Malaysia’s Yu Yi Herbs & Organic company introduced a pre-made dish featuring green curry and monkey head mushrooms, 100% vegan.
In the future, businesses can identify winning factors that attract consumers to purchase by understanding their attitudes toward different ingredients.
Trend 2: Nurturing Nature
Williams pointed out that Innova Market Insights has categorized “Nurturing Nature” as Trend 2 because the company believes that such stories can determine a brand’s success in market competition.
The concept of “sustainability” has been discussed for a long time, and in 2024, this concept will deepen and become more specific. Brands that emphasize their connection with the natural environment, from regenerative agriculture to livestock farming conditions, are gaining favor with consumers. The Innova Global New Products Database shows that in the past four years, the annual compound growth rate of new products mentioning how water resources are used in production on their packaging has reached a remarkable 40%.
This year, Kazoo Snacks in the United States launched a corn snack with 40% of the ingredients being upgraded and remanufactured corn germ. The brand claims that compared to products using 100% newly grown corn as raw material, its 11-ounce (about 312 grams) product can reduce water footprint by 16 gallons (approximately 60.6 liters), and the change in ingredients does not affect the taste of the corn snacks. According to the brand, sustainable food should also taste good.
Kazoo Snacks has also announced its goal on its official website, aiming to save 1 billion gallons of water by 2025, and encourages consumers who support sustainable development to participate. The brand also helps users understand the significant environmental impact of saving 1 billion gallons of water through a series of comparisons with daily water usage.
Innova Market Insights also tracked and found that from the second half of 2020 to the first half of 2023, the annual compound growth rate of new products in the food and beverage industry with claims related to forest conservation reached 37%.
Today, consumers are increasingly concerned about the environmental impact of food brands, and companies that can take genuine measures and actions to improve the environment will gain consumer recognition.
Trend 3: Prioritizing Prevention
Consumer focus on personal well-being has never diminished. Innova’s global consumer research shows that over one-third of consumers want to take proactive measures to stay healthy, which aligns with the goal of “healthy aging.”
Furthermore, Innova’s global consumer research reveals that consumers are currently most concerned about weight management, heart health, and bone health. According to Innova Market Insights, the concept of “prevention is better than cure” also prompts consumers to purchase products that meet their health needs.
In September of this year, the U.S.-based Pitaya Foods introduced a series of smoothie bowls featuring functional ingredients.
For instance, the Clarity smoothie bowl from Pitaya Foods contains ingredients such as coconut, pineapple, and blue spirulina, offering a tropical flavor. Consumers can also add gluten-free granola to the smoothie bowl for an extra crunch. The brand suggests that this product serves as “brain fuel” to help maintain energy levels and focus, making it a quick and delicious solution for breakfast, lunch, or on-the-go snacking.
This year, BeeZa, an Indian company, introduced three varieties of peanut butter: Sichuan flavor, Chili flavor, and Chocolate flavor. The company emphasizes that BeeZa peanut butter is palm oil-free, cholesterol-free, free from artificial flavors, and free from preservatives, aiming to provide a fun and healthy nut butter option for people of all ages.
Innova Market Insights emphasizes the crucial role of food choices for consumers who aim to maintain a good state of health and well-being during the aging process. In a scenario where consumers actively focus on personal health, products that offer clear health benefits are poised to stand out.
Trend 4: Plant-based: The Rise of Applied Offerings
Plant-based foods are evolving towards products and forms that are familiar and convenient for the masses. Williams reveals that brands and retailers receive a clear message that, beyond consumers who completely avoid meat, there is a larger group willing to reduce their meat intake.
According to research by Innova Market Insights, 50% of consumers consider familiar cooking methods and the convenience of plant-based products essential when purchasing plant-based items. Therefore, businesses can transform popular and well-liked dishes into plant-based products to attract consumers actively embracing plant-based options.
For instance, “Sunday Roast,” a traditional British dish, has been reinvented by the UK-based company THIS, which created a 100% plant-based roast chicken with a garlicky, herby flavor. The brand emphasizes that the product is suitable for meat lovers, closely resembling real meat in taste, texture, and appearance.
Among the most popular forms of plant-based foods, plant-based finger foods and ready-to-eat meals rank first and third. Innova’s global new product database shows that the annual compound growth rate of new plant-based finger foods introduced from the second half of 2020 to the first half of 2023 is 21%.
Thai company Chim Chim introduced a plant-based finger food this year, featuring Chinese dumplings filled with cheese and pork alternatives, ready in just 2 minutes in the microwave.
In the future, plant-based brands can adopt the strategy of “going local” to develop new products, transforming familiar dishes into plant-based offerings. This approach helps eliminate interference from dietary preferences, attracting a larger consumer base.
Trend 5: Local Goes Global
Innova’s global consumer research indicates that consumers’ adventurous spirit in taste has not diminished. Two-thirds of consumers express their willingness to explore exotic cuisines they have not tried before.
Simultaneously, consumers value and prefer food or ingredients that originate locally. Research data further reveals that over 50% of consumers actively seek ingredients with a local label.
Based on this insight, food manufacturers can attempt to strike a delicate balance by incorporating local ingredients into international-flavored foods, making it highly appealing to consumers.
By sourcing local ingredients and crafting authentic international dishes, brands not only satisfy consumers’ pride in their homeland but also cater to people’s curiosity in taste. Williams explains, “This is not about replacing traditional local foods but expanding them into new territories.”
For instance, the French brand Itinéraire des Saveurs introduced a Moroccan-style steamed coarse wheat flour dish, prepared with chicken and beef sourced from France.
Undoubtedly, promoting traditional local cuisines enhances the connection between people and their regions. According to Innova’s market insights, the trend of local products and dishes is sweeping across the globe, impacting the environment, economy, and society positively.
Trend 6: Home Kitchen Heroes
When discussing Trend 6, Williams pointed out that the previous year’s popular trends won’t suddenly disappear as we bid farewell to the old and welcome the new. The theme of “Redefining Value” highlighted in Innova’s 2023 Global Top 10 Trends (https://www.innovamarketinsights.com/trends/top-ten-trends-for-2023-redefining-value-in-a-volatile-world/) still significantly influences the consumer market today. Compared to dining out, many households have chosen to stay at home, driven not only by the aftermath of the COVID-19 pandemic but also due to tightened family budgets.
Innova’s market insights research reveals that over the past 12 months, 43% of consumers indicate they have been dining at home more frequently, while 15% mention increased instances of dining out. From a social perspective, consumers perceive little difference between dining at home and dining out.
Furthermore, consumers express that cooking at home not only provides better value for money but also allows for experimenting with a broader range of choices. This trend is pushing companies to produce products or ingredients tailored for home cooking, assisting home chefs in creating even more delicious dishes.
For example, Sunday Supper has introduced an Italian dumpling that is a frozen ready-to-eat option, conveniently delivered to your doorstep. The brand emphasizes the ease of preparing this product at home, enabling consumers to effortlessly enjoy a plate of Italian dumplings with delightful cheese, sauce, and herb flavors.
Similarly, Mr. Chen’s offers a series of instant products featuring authentic flavors, including Vietnamese beef pho, Thai stir-fried flat noodles, Malaysian laksa, and Korean fried chicken.
Taking the example of instant Vietnamese beef pho, the brand advertises that consumers only need three simple steps to prepare a bowl of aromatic pho, featuring the authentic flavors of ginger, turmeric, cinnamon, and cloves.
Trend 7: Indulging in Health
“Consumers no longer expect to indulge in deliciousness at the cost of sacrificing their health; those days are gone,” stated Williams during the press conference. From the consumer’s perspective, the combination of “indulgence” and “proactive health” is not contradictory.
“Indulging in health” represents the ultimate blend of “feeling good” and “good for you,” attracting consumers who seek health without compromising on enjoyment.
According to the Innova Global New Products Database, the number of indulgence-type products with some form of proactive health claim launched globally from the second half of 2018 to the first half of 2023 has been growing at an annual rate of 14.1%.
In Canada, Joya launched a series of functional chocolates this month. The brand emphasizes that its products are low in sugar and contain functional ingredients such as reishi, South African devil’s claw, ginkgo biloba, and lion’s mane mushroom, with a focus on stress reduction and health improvement.
Similarly, Loacker has introduced a low-sugar version of its classic wafers. The brand highlights the addition of chicory root fiber, without sweeteners or colorings.
Innova emphasizes that the future of indulgence-type and health products lies in absorbing each other’s qualities without losing their individual attractiveness.
Trend 8: Oceans of Possibilities
The oceans are set to become the farms of the future, providing food companies with innovative inspiration and environmentally beneficial new ingredients.
Williams believes that the innovation potential of the oceans extends beyond products based on fish, seafood, or other marine ingredients, and includes plant-based alternatives to fish and seafood. Innova Market Insights data shows that from the second half of 2020 to the first half of 2023, the annual compound growth rate of new plant-based fish and seafood products averaged 60%.
In May of this year, Revo Foods from Portugal introduced a plant-based salmon made from algae extracts. The brand states that this product offers consumers proteins, Omega-3, vitamins, and other nutritional elements, while being free from heavy metals and toxic waste.
Microalgae are also emerging as an essential ingredient. Innova Market Insights data indicates that from the second half of 2020 to the first half of 2023, the annual compound growth rate of new food and beverage products containing microalgae globally is 42.4%.
FUL Foods, a food tech startup from the Netherlands, launched FUL Water, a sparkling water made from spirulina. The brand incorporates locally grown, high-quality spirulina that absorbs twice its weight in carbon dioxide.
Trend 9: H2.0: Quenching the Future
“H2.0: Quenching the Future” is another trend directly related to a specific category, distinct from the plant-based trends. This trend focuses on how to add additional health benefits to water.
According to the Innova Global New Products Database, water is attracting unprecedented attention. From the second half of 2020 to the first half of 2023, the annual compound growth rate of new sports and soft drinks with hydration claims is 10%.
For instance, Perfect Hydration emphasizes hydration claims, stating that its alkaline water helps consumers stay hydrated, active, and calm.
Trend 10: Minimizing the Noise
Innova Market Insights points out that consumers seek clear and substantiated environmental claims, a trend applicable to all categories in the coming year.
Consumer research indicates that 64% of consumers want companies to communicate directly on their efforts toward sustainability on packaging.
Approximately half of the respondents are concerned about a brand’s “greenwashing” behavior, but most admit they can’t discern if a company engages in such practices. Brands stand to benefit by providing evidence for their claims.
For example, Perkier from the UK communicates its efforts in carbon offsetting and preventing deforestation directly on its energy bar packaging.
In the future, open and direct communication will resonate with consumers looking to escape information overload.