Page 20 - Food&Drink magazine April-May 2023

COVER STORY
The future of
food and nutrition
With more than 20 years’ experience as a distributor of speciality food ingredients and flavours for the world’s leading manufacturers and formulators, IMCD understands trends. These are the four key trends it sees unfolding today.
AT IMCD, we know that understanding trends is the first step towards successful product development – because what’s trending informs and directs innovation, showing the way to potential business opportunities.
With our depth and length of experience, we are committed to solving your formulation challenges and creating healthy, convenient, and sustainable solutions that are consumer trend-led and exceed all expectations.
To showcase this commitment, IMCD releases an annual Trends Report.
In our recently released 2023 edition, our global team of food and nutrition experts identify the market dynamics that will shape the future of the industry, in the year ahead and beyond.
Trends develop in response to market drivers, and there are two major drivers that are expected to shape consumer behaviour around food and nutrition going forward.
The health of the planet is the number one concern for consumers around the world. The pandemic, coupled with the increasing digitalisation has prompted a greater consumer awareness of the environment and the health of the planet.
The second major driver is inflation, which has impacted consumers are every level over the past year.
Food prices have been rising at record rates in line with increasing energy and transportation costs.
Four-fifths (83 per cent) of consumers say they have noticed grocery price increases, resulting in more than half of all consumers (55 per cent) changing their shopping behaviours.
In our annual trends report, we focus on four megatrends shaping consumer behaviour and explain how, at IMCD, we support food innovators with our wide portfolio of ingredients and technical expertise.
Continue reading to get a sneak peak of the future of food and nutrition or download the full 2023 Trends Report from our website.
20 | Food&Drink business | April/May 2023 | www.foodanddrinkbusiness.com.au
Time to get creative with textures and taste OPPOSITE: Pasquale Piscopo, IMCD GM Food & Nutrition Australia, and Texture & Nutrition category director APAC.