Header Banner Add

Latest Update

2018 and beyond: Five mega-trends set to shape the food industry

2018 and beyond: Five mega-trends set to shape the food industry

If you thought 2017 was a turbulent year, 2018 is likely to herald further food sector shake-ups. From the growing influence of disruptive start-ups to rising concern over big-picture issues such as food security and non-communicable diseases, companies that adopt business-as-usual approaches will come under pressure.

Start-up self-starters

According to Pinar Hosafci, head of packaged food at Euromonitor International, smaller local players, and start-up business are likely to set the pace of innovation over the next 12 months – stealing share from established brands in the process.

“2018 promises to be the year of disruption in packaged food and we expect a lot of disruptive innovation coming from local players in the start-up community, particularly around the areas of plant-based protein, personalised nutrition, E&S commerce and food technology. These new start-up companies and local players will create new revenue streams and increasingly steal share from big foot players, so the big foot players need to come up with innovative ways of finding more sophisticated partnerships with niche players,”​ Hosafci predicted.

Chris Thoen chief technology innovation officer at Givaudan, suggested start-up businesses are able to adopt a more adventurous approach when it comes to delivering innovation – and they have been using this to their advantage to gain global market share.

“If I look at bigger companies… they have an existing business to support and defend and that makes you a little more conservative as you do innovation and you check things out a little more than you might as a start-up with nothing to defend but everything to gain,”​ he told FoodNavigator.