Trends and News in the Food and Beverages Industry
Understanding the consumer market is essential for lasting business performance in the agricultural. Experts have shared their views on the future of the market and what to extend in years to come. Some of the trends most relevant to our region in 2019 are:
Products from the laboratory: It may sound like a science fiction movie, but meat made in a lab is now a reality. What is even more amazing, is that many of the meats developed have not come from animal flesh. This is the case of the American company called Just, formally known as Hampton Creek, which has developed chicken nuggets from a feather of a chicken. They have created scrambled eggs which are mung bean based (a legume that is gelatinized when it is cooked), with turmeric to replicate a realistically coloured yolk. The company has also explored "cultured wagyu" working with Japanese wagyu meat producer Toriyama Ranch, in the development of wagyu from a wagyu cow cell.
In Australia, Woolworths and Coles already stock meat substitutes of vegetable origin. Woolworths stocks Minced, a 100% herbal product made by Funky Foods in Denmark. The minced meat is made of soy and wheat proteins, coconut, almonds, tomato, and porcini mushrooms, beet to create the colour. Coles offers the plant-based Beyond Burger which reportedly boasts a taste and texture similar to that of traditional burgers, plenty of protein and iron, but with less saturated fats and no cholesterol.
While it may not be the norm to serve this at your Sunday barbecue, this trend is rising with many food providers, such as food trucks, and cafes adjusting menus to those who want better tasting meat alternatives.
Cultured meat may have environmental and ethical appeal to consumers, but its success in the marketplace will depend on far more than technological and economic viability. Regulators and producers will need to consider the wide spectrum of opinions and attitudes held by consumers if this technology is to be widespread.
Hemp consumption: While there is still much to be defined in terms of clinical research and regulatory issues, there is a growing number of people seeking the benefits of hemp oil and CBD (cannabidiol) for the control of anxiety, inflammation, and the pain. Today, hemp products can be found in supermarkets in the form of oils, food supplements, protein powder, seeds and energy bars.
Informed consumers in the search of sustainable products: More and more consumers read the labels and will make decisions based on a product's origin. Business values that reflect this trend would allow a comparative advantage within the market, as well as a unique identity for marketing.
Orange Wine: Already trending in bars and restaurants across Sydney and Melbourne, orange wine is slowly making its way into the WA market. This wine is made in the wood where the red wines rest taking its name from the orange tone created by this process. Orange wine can be found in Aldi stores.
Food delivery: With food delivery services such as UberEats, Deliveroo, and Menulog it is very easy to eat at home. This trend has become hugely popular in cities and areas providing these services, with many Australians choosing to stay in while still enjoying the quality, variety, and flavours of restaurant food. Lack of time, ease of access and pricing are the driving factors for this trend.
Farm to table: Renowned chefs are allying with local producers’ venues outside the city to create a different dining experience. Not only are customers taking to the fresh produce and the country atmosphere, but some restaurants are also venturing into “nose to tail” and “root to shoot” dining. Basically, the entire animal or plant is used, not just the top cuts. The parts usually discarded are incorporated into meals for a more sustainable and ethical approach.
Organisations such as the Global Food Forums propose a longer list on their website: