Have you ever wished for a roadmap to success? It may be as simple as getting strategic with your future plans. We’re watching business trends play out before us as the global food economy adjusts to inflation, shortages, and new levels of distribution difficulty due to unprecedented supply chain disruption. While businesses prepare to wrap Q3 of 2022; we’re looking to the future and getting strategic about industry leadership in 2023.
As business leaders prepare to set their goals and initiatives for the upcoming year, there’s one question on everyone’s mind: What food business trends should we focus on in 2023 and beyond?
Below, we’re answering that question: and exploring what the future of the food industry may look like as we continue to grow and evolve to suit the current business environment.
Read on for more information about what to expect, what to watch for, and how you can find success in the competitive 2023 food landscape.
1. Regenerative food and sustainability
As we already saw with the major focus on ESG in the food industry, we believe that an even more impactful focus will be placed on regenerative and sustainable farming and food sourcing. As more consumers become globally-minded and sustainable in their daily way of living, they’ll look to their favorite brands to continue the conversation and impact the well-being of the world that we live in.
2. Sustainable seafood and procedural change
Historically, seafood has not been one of the more sustainable products to farm. As we turn the corner to a new era of informed consumption, we expect to see sustainable seafood take the lead as one of the top trends in business – encouraging business owners to take the next step and evaluate how ethical and safe their processes are for everyone involved. 85% of the world’s fisheries have been marked as overfished by the NOAA, which means that this trend comes at the perfect time, as consumers ate about 6.3 billion pounds of seafood in 2019 alone. This number is expected to rise by at least 40% going into 2022/2023.
3. Allergy-friendly options on classic favorites and new hits
Due to the prevalence of foodies on social media and the changing tastes of the public, we expect to see a higher demand for more allergy-friendly options that suit a range of dietary needs. Today’s consumers don’t want to compromise and are looking for new ways to get the full spectrum of culinary experience despite any sort of dietary restrictions that they may be dealing with.
Popular influencers in the food space have called attention to the disparities, most recently on TikTok and Instagram. This has been seen especially in the gluten-free and vegan food space via @philhatesgluten and @theveganwarehouse.
4. Local sourcing and global food chain flexibility
After the historic events of COVID-19 and related pandemic emergencies on the global food chain, we expect to see greater amounts of companies sourcing locally and embracing full global food chain flexibility in a proactive strategy – avoiding the delays and disruptions of the 2020-2022 era. This will have widespread positive impacts at nearly every level of the supply chain, resulting in less transportation costs and environmental impact, greater positive impact on the local economies, and greater global community around the food and beverage industry.
5. Digitalization at every point in the manufacturing and distribution process
Digitalization drives our world now more than ever before. We expect to see digitalization making greater impacts across the food industry, specifically in the area of AI-driven tech and machine learning. There are near-endless applications and opportunities for enhancement with these new modern-day tools, but we expect to see exponential utilization in areas such as:
- Quality control and transparency: Helping stakeholders to maintain a “bird’s eye view” through every step in the process
- Efficiency and process optimization: Wherever humans have a hand in the manufacturing and distribution process, there is a greater risk of error in comparison to AI-driven areas. Harnessing the power of tech to mitigate these risks and empower humans to take on higher-level tasks is beneficial to all parties involved.
- Tracking and reporting: As you’ll see with a full-scale food business ERP, AI can drive to-the-second reporting for accurate strategy and planning further along in the process. It can also help to predict the ebbs and flows of business by tracking and contextualizing historical data and present-day results – minimizing wastage and associated cost and effort spent.
- Distribution management and organization: Rather than relying on manual processes, businesses can take digitalization on the road – reaping the benefits of a more efficient fleet management system housed in a comprehensive food business software such as an ERP.
Inecta leads the food software industry with full-spectrum ERP solutions
If you’re looking for new ways to recession-proof your business in 2023, Inecta has you covered. We have continued to lead the industry for over 20 years, providing food business software solutions that you can trust for your end-to-end business management process. For more information and to get started today, please visit our website. Our team looks forward to connecting with you shortly!