Consumers are looking for healthier options and are willing to try new ingredients but they won’t accept increased prices with little or no increase in value in return, states a recent report highlighting food and drink trends of 2023.
According to Vypr's recently launched Food and Drink Intelligence Report for 2023, 35 per cent of consumers have also returned to the kitchen to save money by cooking from scratch. Traditional meals such as Shepherd’s Pie are on the menu, with consumers using slow cookers and air fryers in a bid to reduce energy consumption.
The demand for plant-based options continues, with 17 per cent more people saying they planned to participate in Veganuary this year compared to 2022. 33 per cent of respondents from non-vegan/vegetarian groups said they were somewhat interested in trying plant-based products, with 20 per cent stating no interest. This is a positive sign as the market continues to grow, and brands will be able to broaden their products/portfolios to larger audiences.
Vypr’s research has highlighted negative views around poor taste of reformulated products to make them healthier – indicating that there is still work to be done around reformulations by food producers.
48 per cent of consumers indicated they’d like HFSS reductions to ready meals, 42 per cent on desserts and 35 per cent on drinks. With consumers not wanting to sacrifice taste, specific categories need to develop individual research of their target audiences. For example, 42 per cent of consumers reported that they’d like to see reformulations to help reduce the levels of salt and sugar in their foods, with only 17 per cent stating that they’d like to have high HFSS ingredients in their products.
However, consumers are savvy with 51 per cent of respondents noticing smaller pack sizes, indicating that producers have chosen to reduce size versus reformulation.
In the wake of ongoing egg shortage in the country, the report states that consumers are not opposed to the idea of food containing egg alternatives, with 47 per cent of respondents stating that they would be willing to purchase these products.
“2022 was yet another year of significant challenge for the food and drink industry, following two years of the pandemic. The Ukraine War, Brexit and the cost of living have created challenges for suppliers and consumers alike. We expect this trend to continue throughout 2023 as supply chains remain tricky and energy costs remain unpredictable well into the year’s first half," Vypr founder Ben Davies commented.
“This doesn’t mean innovation needs to cease. There are huge advantages for brands to continue developing their products and propositions. Consumers are looking for healthier options and are willing to try new ingredients – they won’t accept increased prices with little or no increase in value. With high inflation, brands and producers must listen closely to consumers’ needs and identify key behaviours. Real-time and robust insights are vital as the market remains fluid.”
