Top food and beverage trends for 2024 - Innova Market Insights

New research shows that while the effects of high food price inflation and pressure to cut food prices continue to impact consumer markets around the world, attractive or loved ingredients, eco-friendly claims, and health benefits will increasingly inspire people to spend in 2024.

“There is always an overlap in trends, regional or local differences, and differences between genders and even income groups. But trends help you see how things are going more broadly and uncover opportunities for your consumer, said Lou Ann Williams, director of global analysis at Netherlands-based Innova Market Insights. “Some consumers are willing to pay higher prices for the benefits they want. For some, sustainability factors are the most important, for others they are the deciding factor. Our research shows that consumers are looking for affordable products that improve their health and make it easy to do so.”

"Spotlight "

For many families, the main challenge is simply finding the food they need at an affordable price. However, Innova Market Insights' research into consumers and the products they buy shows that other considerations come into play.

For example, a third of consumers surveyed said they responded positively to the labeling of certain key ingredients.

“This demand could be for things like taste or texture or other positive associations, as well as any benefits that are good for you. These associations may reflect other popular foods, passages from social media, or perhaps years of online information about health-promoting ingredients—from “superfruits” to gut-healthy bacteria,” explains Williams.

In two examples from a global study by Innova Market Insights, 42% of consumers said protein was the most important ingredient, while the number of main dishes that included mushrooms (or certain types of mushrooms) as an ingredient increased by 12% year-on-year between 2018 and 2023. .

“For 15 years now, we have been talking about clean label and focusing on ingredients that should be eliminated from food. This movement created the "avoid" list and made consumers think a lot about ingredients. But before that, starting in the early 1990s, functional foods and adding health-promoting ingredients was a huge trend,” says Williams. “We've come full circle, and today, in an environment where simple messages spread quickly on social media, there is non-stop discussion of ingredients, both for food and personal care products. There is also an overlap between food and self-care, so these top ingredients are amplified even more. Good examples are vitamins A, C and E: 30 years ago there were quite a few ACE drinks and now we see that these vitamins are important for immunity as well as skin health.”

"Caring for nature"

Increased awareness of the climate crisis manifests itself in a variety of ways, and not always through products directly related to issues such as carbon emissions.

“From regenerative agriculture to animal husbandry, brands that emphasize connections to nature and the environment are seeing success with consumers,” says Williams. “We have identified 'Care for Nature' as our number two trend and believe that stories like this can be the deciding factor between competing products. For example, over the past four years, our analysis has found a staggering 40% annual increase in the number of food and beverage products containing some sort of water claim.”

"Priority of prevention"

While the well-being of the planet has only recently overtaken personal well-being as a priority, health concerns are never far away.

“More than a third of consumers tell us they want to be proactive in maintaining good health, with many messages around us highlighting the need to take more personal responsibility,” Williams continues. “Such accountability can extend to areas as diverse as bone health and cardiovascular disease—and is the basis of our third trend: Prioritizing Prevention.”

"Plant products: growth of applied offers"

At least three food and beverage trends for 2024 have a "best of both worlds" element to them. For example, Innova Market Insights highlights the transition of plant-based products to familiar and convenient recipes and formats. This move is the focus of the fourth trend: "Plant-Based: The Rise of Applied Offerings." Many consumers are now taking a "prevention is better than cure" approach when purchasing food.

“Time-saving ready-to-eat meals are making it possible to offer more popular dishes in alternative vegan or vegetarian versions, such as lentil lasagna,” says Williams. “It sends a clear message to brands and retailers that while some consumers don’t eat meat at all, many others are happy to eat less.”

The company's research found that between 2020 and 2023, sales of prepared meals and side dishes that claim to be "plant-based" or "vegan" grew by 8% per year.

According to the speaker, the debate around alternative protein may seem like a zero-sum game, but it is not. The world needs all the protein it can produce from all sources, she tells Food Ingredients First.

“Of course, there are inputs that will limit what can be produced where and how quickly. We are still at the beginning of the plant protein journey. Too many news headlines focus on the challenges plant-based burgers face in the US—I don't think it's worth focusing on, says Williams. — One of the easiest foods you can buy in the USA is a hamburger. “It doesn’t surprise me that so many consumers are turning away from more expensive burgers that don’t meet all expectations in terms of taste, texture—and, I might add, smell.”

Even meat-eaters are increasingly enjoying vegetarian versions of their favorite dishes.

“But plant proteins used in spaghetti or other highly savory and savory foods will have a better chance of meeting flavor and texture expectations – which is the direction we think the market will be heading next.”

"Local becomes global"

Another area where food producers can find an attractive balance is through local sourcing. Clearly identified ingredients close to home are incorporated into recipes from around the world.

“The end result can combine local pride with the excitement of international cuisine,” explains Williams. “This does not replace the popularity of traditional local menus, but expands them into new areas.”

The researcher notes that the main trends of this year will continue to develop and influence the industry until 2024. “This year's biggest trend, 'Redefining Value,' continues to resonate with consumers,” she says, highlighting the instability and crisis in many countries.