LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the top 5 trends in the global food and beverage industry.
The food and beverage (F&B) industry form an important part of several economies. It has witnessed phenomenal growth due to factors like increasing population, technological advancements, streamlined manufacturing processes and, improved cold chain facilities. The industry is highly consumer-driven with a multi-dimensional network. However, in the last few years, profit margins have declined substantially due to high competition.
At SpendEdge, we understand that companies need to customize their product lines and categories to suit the current trends. Therefore, we have highlighted the key trends impacting the food and beverage industry.
Top Food and Beverage Industry Trends
‘Snackification’ is the new term gaining traction among consumers of today. Drinkable food products that hold the nutritional value of food and the convenience of the food beverage are getting popular. This trend is being fueled by a decline in the demand for sugar-based and carbonated drinks due to health awareness.
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Supply chain transparency
Consumers want to know everything about the product’s provenance and the manufacturing process. This has compelled companies to improve supply chain visibility to retain the customer base. With farm-to-table movement, consumers can know about where the product has been sourced and under what conditions. Companies can also adopt concepts like fair trade practices and sustainability for a credible reputation in the market. Wondering how your competitors are improving supply chain visibility? Get in touch with our experts now!
Most customers buy what they see. This makes packaging an integral component of the food and beverage industry. Companies not only need to grab the retail shelf space but also entice customers to but their products. Hence, they must find creative, innovative and sustainable ways of packaging to develop their packaging designs.
To know in detail the top food and beverage industry trends, read the complete article here!
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