Food and Beverage Top Stories

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In 2024, expect brands to help consumers live longer, healthier lives; balance their needs for health and pleasure; and unlock new conveniences from technology. Here's a look at each area.

Every year, Innova Market Insights compiles its Top Ten Food & Drink Trends. The company's latest research shows that food price inflation and the need to cut back on expenses continue to affect consumer markets worldwide.

“We were thrilled when Francia approached us with her vision. Her passion to bring to life her grandmother's recipe—inspired by her passion for cooking and experience growing up in Los Angeles—resonated with our own commitment to bringing to consumers the flavors of Mexico raised in LA,” said Diana DeLoza, LA VICTOIA director of marketing. “…Together, we created a salsa that celebrates the rich heritage of Los Angeles and brings it to tables everywhere.”

"We are thrilled to partner with Mott's and Hawaiian Punch to include nostalgic flavors households love and enjoy," said Brian Owens, Café Valley CEO. "Adding these celebrated brands to our variations of Mini Muffins and Ring Cakes as easy, on-the-go baked goods expands Café Valley's potential, and we couldn't be more excited to share that with our fans."

A forward-looking outlook provides insight into the anticipated performance of the food and beverage industry throughout 2024, pointing to a more favorable landscape as several headwinds that weighed down 2023 are expected to recede.

Functional foods and flavors continue to climb in popularity as such foods achieve just that: beyond providing nutritional benefits, they bring flavor, comfort, and excitement to the table. Among these, immunity-targeting products are in the forefront.

Over the past four years, plant-based product sales have seen strong growth, reaching record sales of $8B in 2022 (SPINS). While 88% of active users have a moderate to high commitment to continue their plant-based purchases, one-third of shoppers say they would like to see more plant-based offerings at stores, according to research. Retailers and brands can drive growth by offering a broader assortment and more online and in-store options.

"Cold Brew is an exciting new beverage for everyday enjoyment. The carefully curated collection can be enjoyed any time of day, during any season, and features three herbal tea flavor pairings sure to please every palate," says Katie Kameswaran, Tea Forté marketing director.

“More and more research is looking at our gut microbiome and how it plays an integral role in affecting our immune system, brain health and other body functions,” says Dr. Samara Sterling, a nutrition scientist and research director for The Peanut Institute. “These findings are exciting because the students consumed a relatively small amount of peanuts each day but the impact on their memory and mood was statistically significant.”

Gen Z’s dietary preferences are evolving. To appeal to them, diet and nutrition brands will need to embrace international flavors and cuisines. We predict growth in categories that successfully blend Gen Z’s desire for nutritious, plant-forward foods with their craving for authentic, internationally-inspired flavors.