The trends that will shape food and drink
The year is beginning with a fresh emphasis on providing the consumers with what they want. This includes RTD cocktails tech-enabled items, and sustainable and better labeling.
Editorial note: This piece is the first part of an ongoing series of stories on the trends that will affect the industry of food and beverages in 2023.
As we approach 2023, the food and drink businesses are focusing their attention on the consumer.
The industry has always attempted to offer consumers what they would like. However, this year, new technologies and fresh ideas are bringing that focus of consumers to the fore in fresh ways. With a weak economy and a high rate of inflation remain a major challenge to business food and drink industry, they are seeking new ways to snag the hard-earned consumer dollars.
The trend towards more RTD drinks will continue, with beverage companies of all types exploring ready-made drinks in order to offer consumers more options that are convenient and delicious. The precision fermentation technology is speeding up to provide large quantities of vegan ingredients that have the flavor and benefits of eggs, dairy products, collagen, and gelatin. Cultivated meat, made from cells that are not subject to slaughter of animals, is expected to make its debut in the U.S. market in some shape this year.
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Customers who are concerned about sustainability will discover more carbon-neutral and recycled products in the marketplace. The upcoming new regulations on labeling and commitments to provide consumers with more information about the items they buy and could encourage reformulation.
The use of artificial intelligence and machine learning can aid companies in developing and manufacturing products with less expense and help them manage costs for customers.
Here’s a look at trends that analysts and experts say will impact the market in 2023.
Courtesy of Coca-Cola
The alcohol industry is abuzz over RTD cocktails
When alcohol drinkers are looking for more cocktails that are ready to drink and drinks, beverage producers are preparing to overflow marketplaces with more fashionable drinks in 2023.
In the next few months, Brown-Forman and Coca-Cola will unveil a ready-to-drink beverage that will combine the Jack Daniel’s Tennessee Whiskey and the iconic soda brand. Coca-Cola as well as Molson Coors also are prepping for the release of Topo Chico Spirited.
Diageo is working in partnership with The Vita Coco Company on an range of premium canned drinks made using Captain Morgan rum and Vita Coco coconut water due out in the first quarter of this year. And truly coming from Boston Beer, which was launched in October, it is set to grow during the year ahead.
“I would not be surprised if RTD spirits were the largest single entity in beverage alcohol” 10 years in the future, said Nathan Greene, an analyst at Beverage Marketing Corporation.
Greene stated that hard seltzer that has seen its appeal diminish after years of double-digit growth established the foundation in the direction of RTD spirits. The public began paying at the taste inside the bottle and gravitating towards the drink’s refreshing flavor.
