8 Food Business Trends to Monitor in 2023
Food isn’t just a necessity; it’s a desire. A desire that builds up with every consumption. It makes people passionate, not just for consuming it but derives many more divisions in this field. People are passionate about creating the best dishes, critiquing, and blogging about what’s trendy and new in this industry.
The food business industry has been evolving throughout the years; after the downfall during the Covid-19 pandemic, it has increased its pace and is rising high. An article by Fortune Business Insights states the food service market worldwide is expected to rise from $2540 billion in 2022 to $5194 billion by 2029. Food businesses need to keep up with the rapidly changing trends in this fast-growing industry. Here are the eight food business trends you should know that you can monitor in 2023.
Restaurants have taken on a different direction. With conventional restaurants operating everywhere, the new trend has included some new things in the list. Ghost kitchen is a trendy phenomenon that has emerged recently. This facility doesn’t offer dine-in and is built solely for cooking food for making deliveries. Online delivery service has played a major role during the Covid-19 pandemic in operating food businesses. This trend in 2020 has made a revenue of $26.5 billion by the US delivery apps collectively and is expected to double by 2025. Food trucks and food kiosks are other cost-effective trends that got hiked. The cheaper permits and license costs increased their popularity among Asian and other foreign cuisines, making it easier to open their restaurants in countries like the UK and US.
Regenerative and Sustainable Food
People are now becoming more environmentally concerned. The food-producing systems that are used today are threatening to the environment. They are escalating climatic change; species loss; demeaning the land and water; and making the fisheries, lands, and farms less productive. People are now looking for regenerative systems to optimize food sourcing that helps sustain land and sea. It will help increase global food production and supply; restore the land, ocean, and their resources; tackle climate change, and create a positive and healthier economy.
The UN estimates that 85-90% of sea life has been consumed or is in peril of overfishing. This has encouraged businesses to see their processes’ safety and ethics and to develop vegan seafood substitutes to address this matter.
People have reduced their meat consumption as they are now cautious about the environment and the animals abused during the meat manufacturing procedure. Restaurants must keep up with the trend and have introduced plant-based meat, cheese, milk, etc.
Clean Food and Digitalization
Healthy consumption is at its summit. People are going for whole foods with no additives, artificial ingredients, or chemicals that are minimally processed.
This also opens a door for digitalization that showcases every step – from harvesting the ingredients to putting the meal on the table – to the consumers.
Since allergies are so common and the culinary business has now advanced, people don’t want to compromise their tastes and preferences. Food businesses are coming up with allergy-friendly solutions for people to enjoy their culinary experience to the fullest. Gluten-free options include using seed flour, cauliflower flour, and banana flour. For allergies related to peanut butter, food businesses are developing alternatives with pumpkin butter, chickpea butter, and macadamia butter. Potato milk is also now in use other than soy milk, oat milk, and almond milk for people who are lactose intolerant. Potato milk will be a trendy substitute in the upcoming years since it’s cholesterol-free, has low sugar and fat, is produced easily, and does not taste like potatoes, says The National News.
Supply Chain Flexibility
The Covid-19 pandemic has taught food business owners not to rely on just one supply chain mode. They should keep both local and international suppliers intact for easier and cheaper food sourcing, which does not bind them when a calamity hits.
Geopolitical and Fusion Cuisines
As the world is highly interconnected now, there is more internationalization in food cuisines. With the increasing share of ingredients and cooking methods shown on social media, we can see that the food businesses are trying out mixing other cultural cooking styles into their own and creating a colorful and vibrant result that is appetizing to the customers.
On the other hand, immigrants from other countries, especially Asian and Middle-Eastern, are also sharing their input in this industry by opening restaurants that, thus, easily provide access to their flavorful cuisines.
The food industry is never-ending, with plenty of space for new trends to transpire even when the previous ones are still in practice. Many more trends can be listed above; however, these are the most likely to be monitored in 2023.