2023 Food and Beverage Trends

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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.

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.

PepsiCo, Inc. announced two new nutrition goals as part of PepsiCo Positive (pep+) – the company's end-to-end strategic transformation – which aim to reduce sodium and purposefully deliver important sources of nutrition in consumer food and beverage products.

Through the partnership, Nestlé provided scholarships for more than 100 women to participate in GWI’s 2023 “mini-MBA” program—an action-packed, online program that teaches future innovators key entrepreneurship and leadership skills.

Although plant-based has become a popular term in the dairy- and meat-free categories, it does not accurately describe all developments in this fast-moving field. There are technologies that generate “animal-free,” bioidentical ingredients such as dairy whey and dairy casein. Even so, “plant-based” continues to grow in use, with indexed average annual growth of +42% between 2017 and 2022.

The Specialty Food Association (SFA) Trendspotter Panel has predicted what will be hot in specialty food for 2024. Ranging from soup to cell-based meat and seafood to peach to value–and more–the Trendspotters have set their sights on a diverse list of trends for the $194 billion specialty food industry.

CP Kelco, a global leader of nature-based ingredient solutions, announces today that its NUTRAVA® Citrus Fiber has been certified as an upcycled ingredient by the Upcycled Food Association. 

ADM shared its outlook on the flavor and color trends that will drive product innovation in 2024. With unapologetic abandon for self-expression coupled with individual wellness goals top-of-mind for consumers across regions, ADM has identified four trends that illustrate evolving consumer behaviors and will inspire memorable moments.

Earlier this year, US Food and Drug Administration Commissioner Robert M. Califf, M.D. laid out a bold vision to transform the agency's human foods enterprise. I am thrilled to have joined the FDA last month as the first Deputy Commissioner for Human Foods to help make this vision a reality.