LONDON--(BUSINESS WIRE)--The global food and beverage industry is driven by consumers, with a multi-dimensional and global network that has transformed the consumers’ eating habits and preferences. The industry is experiencing significant growth due to factors like technological advancements, streamlined manufacturing processes, and improved cold chain facilities.
However, procurement analysts at SpendEdge say, “Regardless of the growth, the industry is dominated by the category captains who dictate the retail space and indulge in mergers and acquisitions (M&A) with smaller food and drink companies and manufacturing units.”
In its recent analysis, SpendEdge released their list of ‘Top 5 Trends in the Global Food and Beverages Industry’. These trends will help organizations and professionals in the food and beverage industry gain actionable insights, drive cost reduction and devise price negotiation strategies.
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Top 5 current trends in the food and beverage industry are:
Customers are swiftly shifting towards products that are sugar free, gluten free, lactose free and have a low calorific value. There has been a complete shift in focus by manufacturers in procuring natural ingredients and substituting them for artificial flavors and substances.
Functional beverages can be used as nutritional drinks as well as guilt free meal replacements. The demand for these beverages has been driven by the decline in the demands for sugar based and carbonated drinks.
Convenience Food Products
The lack of time for meal preparations is leading to a rise in convenience food products which can be prepared with little effort.
Supply Chain Transparency
New concepts such as sustainability, farm-to-table movement and fair-trade practice are creating are helping organizations to build a loyal customer base and a credible brand reputation. This movement informs consumers where the food has been sourced, procured, delivered and under what conditions.
Companies are designing innovative and sustainable ways of packaging to present their products. To stay ahead of or gain on the competition, food and beverage companies must develop their packaging designs on three points: simplicity, mobility and environment friendliness.
SpendEdge Food & Beverage Portfolio
SpendEdge has provided numerous food and beverage organizations of all sizes with effective procurement intelligence services. These procurement studies help clients reap the benefits of high ROI and analyze the dynamic demand-supply landscape to procure the best services in the F&B industry. Recent SpendEdge food and beverage procurement intelligence studies include:
Supply Market Intelligence for Nutrition Product Manufacturing
Supply Market Assessment for Food Preservatives
Supply Market Intelligence for the Food and Beverage Industry
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred market intelligence partner for Fortune 500 firms and other leading companies across industries. Our strength lies in delivering actionable insights that help sourcing and procurement professionals get the right information in the right format, without any unnecessary frills. For more information on SpendEdge’s services, please contact us.