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Every December, the editors and contributors of Prepared Foods compile our industry interactions, research, and insights to predict trends that may influence the industry in the upcoming year. In a few weeks, we will begin sharing our predictions for 2025. Before looking ahead, let’s review the predictions we made for 2024 to see what came to fruition and what may not have fully materialized.
Below, we have summarized the key points from each section of our 2024 Predictions, covering sustainability, foodservice, and global flavors. In each summary, you will find our predictions for 2024 along with our assessments of their accuracy. Reflecting on these predictions has allowed our editorial team to understand the significant developments in the food and beverage sector throughout 2024. We hope that this reflection and transparency provide you with insights into current market dynamics and help you position your brand effectively amidst the evolving trends taking us into 2025.
Let’s dive in.
SUSTAINABILITY
How Consumers, Food Processors Approach Sustainability
Two industry experts discuss sustainable demand and industry strategies in 2024
1. Consumer Attitudes Toward Sustainable Foods
PREDICTION: There would be a continued emphasis on sustainability-marketed consumer packaged goods (CPG), with attributes such as “Non-GMO,” “Sustainability Certified,” and “Organic” seeing growth.
ASSESSMENT: This prediction seems to be accurate, as data indicates the growth of these attributes in the market, reflecting the increasing consumer awareness of sustainability issues.
2. Brand Sustainability Efforts
PREDICTION: Limited progress in sustainability claims by food and beverage companies, but an opportunity for competitive advantage exists.
ASSESSMENT: The observation aligns with current trends, indicating a need for improved communication and product offerings from companies to fully leverage sustainability demands.
3. Shift in Consumer Buying Behaviors
PREDICTION: Increased consumer pressure on brands regarding sustainability, particularly around plastic usage and water availability.
ASSESSMENT: This prediction holds true, with growing consumer scrutiny on sustainability practices expected to intensify.
4. Processor Activity in Sustainability Areas
PREDICTION: Increased focus on ingredient upcycling, regenerative agriculture, farm-to-table transparency, and packaging sustainability.
ASSESSMENT: Companies are showing signs of prioritizing these areas, suggesting a positive impact on consumers with an interest in Waste reduction and sustainable practices.
5. Communication of Sustainability Efforts
PREDICTION: Brands should transparently communicate their sustainability initiatives to avoid “greenwashing.”
ASSESSMENT: Authenticity in sustainability messaging is crucial as consumers seek genuine efforts in this space.
Conclusion
Our 2023 predictions for sustainability trends in 2024 have resonated well with consumer behavior and market trends. Despite communication challenges, the overarching themes of consumer interest in sustainability, responsible sourcing, and authentic messaging have prevailed in the market.
FOODSERVICE
What’s on the Menu in 2024?
Technomic highlights the growth of foodservice industry and the importance of innovation
1. Leveling of Growth and Consumer Behavior Changes
PREDICTION: The industry’s post-pandemic recovery would stabilize with low growth rates, emphasizing competitive pricing and value-driven strategies for full-service operators amidst inflation pressures. Limited-service restaurants would benefit from increased demand for affordable dining options.
ASSESSMENT: This prediction aligns with the current landscape, where stable growth and increased demand for budget-friendly options are prevalent.
Stay tuned for more Foodservice 2024 predictions and assessments. Available Oct. 16, 2024.
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Emil Kovács graduated from the Journalism program at Eötvös Loránd University in Hungary. During his journalism studies, he focused on data journalism, investigative reporting, and multimedia storytelling. He gained experience by writing for the university’s student newspaper, where he gained attention for his articles on social issues. After graduation, Emil began working as a reporter at a European news agency, where he conducts in-depth analyses of international news and current events.
