2023 Food and Beverage Trends

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Driven by consumer desire for wholesome food options that deliver on taste, Dole is launching new innovations across every category – snacking, beverages, ingredients and frozen treats – and entering new categories like functional supplements and probiotic sodas under a new brand.

The majority of the trends focus on sustainability, which is proving to be the primary motivator for many new and emerging entrepreneurs, a key factor in corporate commitments and an important “why” behind radical transparency and impact assessments.

Innova Market Insights’ 2022 Snacking Survey found that more than 54% of Americans say they snack two or more times a day. Nearly one-fifth of Americans say they snack four or more times a day.

You have a great tasting food you want to commercialize. What claims can you make? One of the first things on your to-do list should be to define a few basics: Who will buy your food? What’s important to them when it comes to your food category?

It’s always good to start a dairy report with a tall glass of milk. While it’s safe to say reports of dairy milk’s demise in the face of the plant-based boom are premature, unit sales slipped again in 2022 by 3.3%. Luckily for the industry, dollar sales increased by more than twice that percentage (7%) due to price-per-unit increases of 11 cents.

Last December saw Chicago retail data tracker IRI release its “November 2022 Retail Food and Beverage Price Check” report. Published on December 8, it noted that food inflation finally moderated after August and hit its slowest rate last October, at +0.3%.

Key industry players are focusing on reducing food waste by about 50% through the adoption of several methods to extend the shelf-life of food. Top companies are paying strict regulations on food waste. FDA supports the food industry regarding food safety, packaged foods, and clean labeling. In the coming period, food manufacturers are likely to develop smart technology that may reduce the wastage of food items.

SKU’s mentors are what truly sets the accelerator apart. Brands are surrounded by a customized mentor team hand-picked to meet their needs. 

"Products that make home cooking more convenient and restaurant-quality are in demand, whether meal starter kits, distinctive salts or butters, condiments from around the world, or foods from different global regions available as frozen entrees," said Denise Purcell, SFA's vice president, resource development. 

Gen Z is the most racially and ethnically diverse generation, too. According to Pew Research, Gen Z represents the leading edge of the country’s changing racial and ethnic makeup – with 52% non-Hispanic White, 25% Hispanic, 14% Black, 6% Asian and 5% a different race or two or more races. The US Census Bureau projects that by 2026, the majority of this generation will be non-White.