Gen Z is the most racially and ethnically diverse generation, too. According to Pew Research, Gen Z represents the leading edge of the country’s changing racial and ethnic makeup – with 52% non-Hispanic White, 25% Hispanic, 14% Black, 6% Asian and 5% a different race or two or more races. The US Census Bureau projects that by 2026, the majority of this generation will be non-White.

Seeing an opportunity to help improve public health through food, Kellogg petitioned the FDA to review fortification regulations for cereals and grain-based bars with Vitamin D, a nutrient of concern among Americans.

Wasted food is a major drain on business and on the planet. Shelf Engine, a perishable food forecasting specialist, estimates that supermarkets alone discard more than 43 billion pounds of food each year and that excessive food waste costs the grocery industry more than $50 billion in lost profits annually. 

To support the expanded product availability, MyForest Foods also announced its first successful harvest production with Whitecrest Mushrooms Ltd., based in Ontario, Canada, who scaled operations one year after announcing their initial trial partnership.

Economic uncertainty and the associated rising cost of goods have forced consumers to rethink budgets and discretionary spending. Across categories, brands are tapping messaging, technology, and retail strategies to show consumers how packaging can stretch a budget.

Without giving away too much of the content, here are some of the hottest trends you should be paying attention to if you plan on launching a food, beverage, or supplement in the next five years.

Five key 2023 trends from Innova Market Insights present opportunities for almonds, as an accessible, sustainable, and nutritious plant-based ingredient, to play a valuable role in keeping up with consumer and market demands.

When it comes to eating plant-based foods, consumers are definite in which types of plant-based beverages and food they want to eat at home and which they eat from a restaurant or foodservice outlet.

Pastry chef Gemma Matsuyama sees Asian flavors like ube and matcha gaining ground in 2023. “I love the interest in Asian flavors like ube because, while a humble ingredient, it has such a strong flavor personality. Ube, much like purple sweet potato, is naturally sweet and has notes of vanilla so it works well in desserts like cakes and ice creams.”

The consumer products sector is entering 2023 with both optimism regarding financial performance and concern over ongoing disruption, according to Deloitte’s 2023 Consumer Products Industry Outlook.