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Food Business Review | Tuesday, October 03, 2023
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Multiple sectors of food production and distribution make up the food and beverage (F&B) industry. This market offers a wide variety of products to consumers, including factory-processed goods, restaurant-cooked meals, and alcohol and non-alcoholic beverages.
Fremont, CA: With aggressive food and beverage marketing strategies and diverse trends, businesses in this sphere use several techniques to attract buyers. According to a report, the global food and drink industry is worth $7,221.73 billion. A USD 9 trillion figure is expected by 2027, according to experts. As technology advances, countless industries have been transformed and the F&B industry is no exception, especially when it comes to digital marketing. In order to optimize their services, leading food and beverage operators have leveraged digital technologies such as fully mechanized kitchens and sensors that collect data on product performance.
Consumer Trends
As a result of the high level of competition in this market, a good digital marketing strategy for food and beverages is essential. A wrong sales plan can be even more disappointing than no strategy at all. To design effective marketing strategies that drive sales, you must utilize relevant information at your disposal. Food and beverage companies must stay on top of the latest trends to achieve this.
Trends to consider are listed below.
Plant-based options: Several consumers are now choosing plant-based alternatives to traditional foods such as milk and meat, while others abstain from all animal products by following vegan diets. Even though vegetarianism and veganism are becoming increasingly popular, fewer than six percent of U.S. consumers identify as vegan. Plant-based meals are popular among both vegetarians and non-vegetarians.
Natural foods: Since poor diets are the main contributor to obesity and other health problems including cardiovascular illnesses, people are becoming more aware of their eating behaviors. Organic foods provide consumers fresh produce for a healthy lifestyle and avoid all artificial food processing. For guaranteed quality, enthusiasts frequently purchase produce from nearby markets or farms. Organic living has become a well-known trend across many socioeconomic groups, from parents who want healthier meals for their children to those striving to live healthier lifestyles to even social media influencers who just want to embody the movement.
Environmental sustainability: The threat of climate change has loomed over everything, and consumers want to know their products are environmentally friendly. It is now considered unethical to manufacture products from single-use items, whereas recycling or repurposing materials is considered more ethical. A number of zero-waste initiatives are also gaining popularity. Waste of both materials and food is included here. Consumers are increasingly choosing biodegradable materials over plastics in order to reduce waste pollution.
Business in the food and beverage industry had to digitize operations in response to the Covid-19 pandemic. To keep their businesses running, entrepreneurs had to find innovative ways to keep in touch with their customers. Despite the difficulty, the goal wasn't just to survive, but also to come out stronger.