Food is one of the most stable industries in the world. After all, everybody needs to eat. Consumers’ tastes and preferences have changed over the years, though. Market changes can also affect the way companies do business.
Watching out for trends is a must. For 2019, the following may become even more popular:
1. Food Automation
Due to the intense competition and changing consumer demands, food manufacturers have no choice but to innovate – fast. One of the popular strategies is automation. This can help companies bring down production and labor costs while increasing efficiency and productivity.
As proof, Markets and Markets predicts that the food automation market will have a compound annual growth rate (CAGR) of almost 7% between 2017 and 2022. Within this period, it can increase its value by over $12 billion globally.
This innovation will boost the demand for a tabletop depositor and conveyor, which can accelerate the production process significantly. New systems are also getting flexible. Businesses can now integrate them into existing lines quickly. They may also redesign the configuration to fit their needs.
2. Online Food Ordering and Delivery
Another fast-growing trend is online ordering and delivery. It contributes to a big percentage of all of the world’s food market. Until 2021, it can grow about 3.5%.
Many factors will spur its increasing demand. One is the ease or convenience of ordering. Consumers these days don’t need to call a restaurant. They can download apps, where they can compare menus, read reviews, order, and track the delivery.
There are also different options for delivery. New delivery companies can have their own logistics, so they don’t depend on the delivery availability or schedule of the restaurants. They also help restaurants expand their business model, as they can now offer delivery service to their customers.
3. Health and Sustainability
People will continue to be health conscious and this desire reflects on their food choices. The gluten-free market alone can have a CAGR of almost 10% until 2025. Consumers are also checking out gluten labels on other food products besides baked goods. These include dairy and meat (as well as their alternatives), desserts, and seasoning or spreads. From 2018 to 2025, prepared food will be the segment with the fastest growth rate.
As the year is about to close, it becomes even more important for food industry players to pay attention to trends. These are significant ones and can potentially make or break their business.