-Vyom Shah
With the new year now in action, we all have the same thing in mind – What will 2023 bring for the F&B industry? Nowadays following the trend is not enough, you have to be ahead of the curve, and be intuitive about what may come next. So, if you are looking for the next big step for your business, keep reading!
The year 2022 threw some crazy trends our way, but we got to learn many things! Putting it all together to improve customer satisfaction is the key here. People love to feel valued and small businesses are trying to build customer relations the right way. Now it’s time to see what 2023 has for us in the treasure chest. Here are the top 6 food trend predictions for 2023:
Plant-based Meats & Other Foods: The popularity of plant-based dining has skyrocketed since 2020. There are now exclusive vegan restaurants in India catering to a large population. There are many reasons for the shift to a vegetarian and vegan diet, the first being that it is more eco-friendly. Millennials and Gen Z tend to adopt more eco-friendly lifestyle choices and the F&B industry has caught onto this. From plant-based meats to a plethora of vegan choices the hospitality sector has geared up quickly for the year 2023!
Role of AI in the Culinary Industry: Artificial intelligence has become an important tool for the hospitality industry. For example, recently at a leadership summit in Mumbai, Microsoft CEO Satya Nadella fired up ChatGPT, an AI chatbot, and asked it to recommend the best street food in Mumbai. ChatGPT quickly came up with ten answers ranking vada pav at the top of the list. Artificial intelligence has proven useful to detect user behavior in terms of spending habits, and eating patterns including ordering, browsing etc. This has led to the inclusion of AI in the culinary industry to create an optimized user experience.
Customer Transparency: Customers don’t want to live in the dark anymore. This upcoming spending generation is woken and wants to know how the products they use are getting ready. From the working conditions of farmers to how cattle are treated, consumer transparency is now in fashion. There is an opportunity to connect with your consumer through business storytelling, innovative packaging and including them in the manufacturing process so that there is constructive feedback to improve products.
More private dining clubs: These are not your exclusive college clubs, but ultra-luxurious dining spaces for the elites who are not environmentalists. Private clubs with buy-ins up to Rs 50000-1 lakh excluding the money you have to spend on unique drinks and fine dining. Mansions in India are being converted into these clubs for “public service” that the general public cannot think of entering!
Sustainable Manufacturing : Sourcing locally is no longer just about supporting small businesses to keep them afloat, it is about reducing the immense carbon footprint. Many hotels and restaurants source exotic, branded ingredients which leave a heavy carbon footprint because of transportation. Going forward, this has to change and sustainable manufacturing has to be adopted by the F&B industry.
East Asian Food : The popularity of East Asian cuisine is soaring in 2023. With delectable flavors such as sweet-and-spicy, umami, or zingy citrus, East Asian cuisine has been conquering the western tastebuds for a while now. No doubt, its popularity will only increase in 2023!
We no longer live in a world where businesses must negotiate with a vast network of wholesalers, retailers, and distributors before launching anything. While it’s simpler than ever to bring something new into the market, growing the business beyond a certain point remains very challenging. In my opinion, these trends can help a growing F&B business achieve new heights in 2023.
