Provenance and authenticity are driving growth within the food and beverage industry, according to new market research.
New Nutrition Business’ annual trends forecast, called ’10 Key Trends in Food, Nutrition and Health 2019′, says the idea of foods and beverages having “provenance” – with a back-story anchored in heritage and trust and perhaps made in a traditional, artisanal way – is now entering the strategies of even the largest companies.
It says the provenance trend is allowing manufacturers to leverage a premium, generating extra value for their brands.
Julian Mellentin, director of New Nutrition Business, said: “The success of the craft beer and sourdough bread markets, which are fuelled by provenance, gives a taste of what the future will look like for many categories.”
In the UK, after years of decline, the bread market grew 4.3% in 2017 thanks to premium-priced artisan products such as sourdough. In Canada, artisan bread has grown 15% in four years to become a $1.12 billion market. In Spain, mass-market bakery chain Panishop earns 20% of its sales from sourdough bread alone.
It’s a similar story in beer, where “craft” and “artisan” beers are now a normal part of the portfolios of giant brewers such as Kirin, Heineken and San Miguel. More
Photo : Courtesy of New Nutrition Business