Food and beverage is an umbrella term which comprises of a vast variety of foods and drinks. A varied number of opportunities are foreseen for the evolving food and beverage market in 2017, but staying on the top is a race to fight. One must have a good understanding of things like changing customer requirements, considering wide preferences, advancing technological strategies and being thoughtful of acquisition strategy would find a great place in this highly competitive market.
Developing consumer’s requirements
Snacks and health, spicy and exotic flavors and wellness are all at the top of consumer requirements. Furthermore, development of subscription food home delivery will persist. Thoughtful of customer preference, being part of the process of preparing meals, relevant recipes, and healthy bold and fresh tasting ingredients are essential factors to mark the top in the food and beverage market.
Mergers and acquisition
Adding new product lines or introduction of healthy products and ingredients to the already established foods and drinks is foreseen from varied companies in 2017. These acquisitions are generally done at a low cost. Instead of spending resources and time in the domestic research and development to form new products, Interpretation to this, the acquisition is the fresh research and development for varied food and beverage industry desiring to embellish their product line brand and offerings.
Lately, the confidence of consumer in the safety of food and supply has abstained. 70 percent and more people have reviled concerns on the production of safe food and drinks. More than 40 percent of customers altered their diet resulting in the perceived food safety controversy. Undoubtedly, concerns glance on the food producers in regards to their products. For many companies, this factor is foreseen to be the leading trends in the food and beverage market.
Many consumers are curious to know whether their food producers are charitable, green with their extra product, usage of water, usage of substitute energies like reducing wasteful packaging, solar-power, etc. until the time, these endurable measures can be expensive to operations, companies must influence effective green system and be mindful of cost-cutting tax credits such as deduction in food donations to aid neutralize these essential efforts.
Top reports published by Inkwood Research
The food and beverage market is widely classified in its products. Inkwood Research has published a wide range of reports in this category. The latest reports are Alcoholic spirit market, Wine market, Beer market and Proteins ingredients market. Few other reports published by Inkwood research are Probiotics market, PET food market, and Inulin market. These reports consist of the forecasting year with the base year in consideration with the CAGR. The report also comprises of market determinants, market segments. A proper geographical analysis is mentioned in the report with the top companies description and research details.
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Author: Komal Surana
Sr. Content Writer and Editor, Inkwood Research