Changes in consumer preferences and lifestyle have helped to grow the British food and beverage market
Long-standing household brands are adapting to assure that they have a place on our shelves. The ones who don’t, are in danger of being removed to make way for the new concepts. The change has brought growth opportunity for new businesses in this sector.
But which 3 consumer trends are causing the most eruption across the Food & Beverage Market?
1. Healthy snacks
With the rise of social media influencers and bloggers who concentrate on nutrition, diet, and wellbeing, healthy snacking has become more popular. Consumers right now want their snacks to provide energy and strength, while still being healthy.
Wellness products instead of weight management products have taken centre stage. Many consumers prefer products that provide a sense of wellbeing and build strength over low-calorie food.
Raw products are also becoming increasingly popular. Sports nutrition brand Macacha is one brand that tapped into this new trend by selling ‘organic, raw, vegan, plant-based’ protein powder. During Macacha’s start-up phase, our Epicure SEIS fund helped facilitate further development as it showed high growth potential, by appealing to both the health conscious and convenience consumer preferences.
With longer working hours, less free time and a hectic culture, British consumers are increasingly opting for ‘food-on-the-go.’
Many customers nowadays prefer standalone daily shops or weekly top-ups – this helps them to prevent wastage. This trend has forced F&B manufacturers to develop new, more convenient foods in easy to cook portions.
We are seeing the already thin line between snacks, and meals have further blurred, with consumers increasingly opting for quick bites. The global ‘on-the-go’ breakfast market, for example, is expected to grow by 46% over the next eight years. Backed by the Epicure SEIS fund, brands such as Naturelly found a firm place in this market. The company evolved from the same ethos. They needed an on the go refreshment that would fill up their children in the afternoon until dinner time.
Consumers increasingly want F&B brands that match their personal values. Issues such as organic food, ethical production standards, and pollution feature prominently on their radars.