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Science

The Food Paradox: Inflation is Driving New Opportunities in the Food Industry

While 2023 seems to be another year with a problematic global economy, some opportunities continue to grow – among those are new food products, driven by a new generation of consumers.

In recent decades, food preferences based on sustainability, fair trade, and health and wellness was something out of the ordinary. Today, these seem to be the driving force of food industry: an industry that never fails, even if everything all around it is falling apart. Despite the ongoing price inflation, consumers are still willing to pay a premium for ‘sustainable’ food products.

Recent research has also revealed that nearly half of U.S. consumers are taking a proactive approach to their health and wellness – and most of them are taking care to make sustainability choices regarding food purchases. Even if ready-to-eat or heat-and-eat food still attracts two-thirds of consumers, even those choices differ. They prefer frozen healthier choices like frozen vegetables and fruits, seafood, yogurt meals.

Another improvement in food purchasing are organic, non-GMO and fair trade choices. The new working generations, like the millennials, are preparing their food from home. They reduce the carbon footprint and pick up environmentally friendly ingredients, often higher in quality but lower price. This phenomenon leads higher numbers in families with kids.

Even if the economy seems to falling apart, there are some positive post-pandemic effects, including a greater concern for our wellbeing in new generations that respect the planet and the society.

 

* The above is not medical advice but mere suggestions for improving your diet. Before reach herbal use you should consult your doctor, especially those who have health issues, are pregnant or are under the age of 6.

Evropi-Sofia Dalampira holds a PhD in Agricultural Economics and an MSc in Botany-Biology.

 

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