Food & ingredients December 2022

confidence via their product formulations,
communications and wider sustainability
actions,” highlights Lu Ann Williams, Global
Insights Director at Innova Market Insights.
In addition to a heightened demand for
competitive pricing, consumers have told Innova
they still seek nutritional value and expect a
continued shared responsibility for environmental
security. Meanwhile, younger generations who
have grown up in an inclusive digital age are
gaining greater influence, changing markets
and creating new opportunities. Against that
complex backdrop, here’s a taste of what
Innova’s Top Ten Trends show is in store for the
food and beverage industry in 2023:
1. Redefining value
Brands, innovators, producers and consumers
are wrestling with rising costs and greater
instability. Combating this requires a deep
understanding of where consumers draw the
line on compromise. Strategies such as simple
price increases, or flexible ingredient lists to
cope with supply chain fluctuations, can work
in the short term. However, brands need to be
open in their communication and clearly show
the benefits they are bringing.
Despite political and economic volatility
becoming the second biggest concern for
consumers in 2022, the health of the planet
remains the top global issue and financial
pressures are leading to an increase in ecofriendly
behaviors. Consumers tell Innova they
have reduced food waste and upcycled or
recycled more as part of their belt-tightening.
As the cost-of-living crisis continues, brands
can achieve success through actions that
combine economic benefits with clear
health and sustainability goals.
2. Affordable nutrition
Over the past 12 months, 62% of consumers
have reported a noticeable rise in the cost
of their food and beverages. As a result,
DECEMBER 2022 FOOD & INGREDIENTS INTERNATIONAL
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