Increased consumer interest in the stories behind their food and beverage products and their notable influence on purchasing decisions has results in companies increasingly paying attention to storytelling in branding strategies.
“Storytelling: Winning with Words” leads the list of Innova Market Insights’ Top Ten Trends for 2020. The top five trends for 2020 are:
1. Storytelling: Winning with Words
Although ingredient provenance has always been important, consumer interest in discovering the story behind their foods has risen further and increasingly influencing purchasing decisions. Consumers’ attention is piqued by opportunities to learn more about how product are produced, which promotes an understanding of product benefits and helps build all-important trust in the brand.
2. The Plant-based Revolution
Plant-based innovation in food and beverages continues to flourish as a result of consumer interest in health, sustainability and ethics, which ties into the broader consumer lifestyle trend towards cleaner living. As the use of the term “plant-based” moves more into the mainstream, the industry and start-up companies in particular, are taking up the challenge to deliver more clean label meat and dairy alternatives with improved nutritional profiles.
3. The Sustain Domain
Consumers increasingly expect companies to invest in sustainability, with Innova Market Insights research indicating that 85% of, on average, US and UK consumers expected companies to invest in sustainability in 2019, up from 64% in 2018. In the area of food waste, upcycling is the new recycling, as companies strive to follow a zero-waste approach by creating value from by-products. Meanwhile in packaging, the focus is on using less of it, as well as developing sustainable alternatives.
4. The Right Bite
Stress and anxiety are key concerns in modern life as consumers manage careers, families and social lives while striving to maintain healthy lifestyles, both physically and mentally. Responses to this vary, although the majority of consumers aim to balance the benefits and costs of busy lifestyles. This, in turn, raises the demand for nutritious foods that are easy to prepare, convenient and portable. Indulgent treats play a role in relaxation and enjoyment.
5. Tapping into Texture
Last year’s leading trend “Discovery: The adventurous consumer” is still prominent, with consumer demand for something new and different being reflected in more product launches with textural claims. Consumers increasingly recognises the influence of texture on food and beverages, allowing a heightened sensory experience and often a greater feeling of indulgence. According to Innova Market Insights research, 45% of, on average, US and UK consumers are influenced by texture when buying food and drinks, while 68% share the opinion that textures contribute to a more interesting food and beverage experience.
The other top trends for 2020 identified by Innova Market Insights are:
6. Macro-nutrient Makeover
7. Hello Hybrids
8. A Star is Born
9. Eat Pretty
10. Brand Unlimited