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FOOD & BEVERAGE 

2H 2023 INDUSTRY UPDATE

  • The widespread occurrence of gut-related problems in the American population is leading to the integration of gut-health boosting ingredients into mainstream foods, extending beyond conventional options like probiotics, yogurts, kimchi, and other fermented products.

  • Ethical buying, focusing on society and environmental impact, is gaining importance in consumer choices. About one-third of consumers are willing to pay more for sustainable products. As a result, trends like Upcycled Foods and Regenerative Agriculture are emerging fast.

  • By fostering transparency and emphasizing nutritional values in their processing methods, CPG brands can tap into substantial demand, as consumers are scrutinizing food labels more than ever and increasingly pushing back on processed foods.

  • Amid a cumulative 20% rise in US food prices over three years, consumers are still adapting to new price points despite moderating inflation driven by lower demand and substantially lower shipping costs.

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