As I prepare to unveil my predictions for the 2024 food trends, I find myself reflecting on the tumultuous journey of the food tech industry in 2023. It was a year filled with economic hurdles, political turmoil, and disruptions in the supply chain, testing the resilience of the entire industry. And yet, against all odds, the industry persevered, a feat worthy of celebration.
Upon revisiting my forecasts for 2023, it becomes evident that many of the trends I anticipated failed to gain traction last year. With traditional venture capitalists shying away and investors exercising caution in their expenditure, the focus shifted from innovation to sheer survival for many founders. Consequently, the landscape saw a scarcity of new product launches and experimentation.
But fear not, for the trends I prophesied for 2023 have resurfaced with a vengeance on this year’s agenda. From the flourishing presence of fungi in the culinary realm to a shift towards embracing global flavor profiles and a resurgence of nostalgic food branding, these trends are set to dominate the scene in 2024.
Now, let’s delve into the fate of some of my 2023 predictions:
Canteen Impact: My prediction of significant progress in the efforts to decarbonize menus by major foodservice operators was indeed actualized. They dedicated themselves to curbing the carbon footprint of the meals served in institutional cafeterias, leaving a tangible mark.
Affordable Flexitarianism: The emphasis on ready-to-heat meals and convenient meal kits, aimed at busy families and young professionals seeking sustainable meal options, has only gained momentum as predicted.
Alt Protein Pet Food FTW: The explosion of plant-based and cultivated protein launches for pets was in line with the preferences of environmentally conscious younger pet owners, as I had anticipated.
The Quiet Quitting of PB Founders: The subdued exit of many founders in the vegan meat sector, as I had foreseen, saw several plant protein startups bidding farewell.
The Politicization of Alt Protein: The relentless assaults on the alt protein sector by Big Meat and Big Dairy lobbies unfolded just as I had predicted, making for a challenging year in plant-based food communications.
Cultivated Meat Regulatory Approval: I was also accurate in anticipating the approval of a US-cultivated meat company, with progress being made on the regulatory front internationally.
While I hit the mark with these predictions, I did fall short in some areas. I had anticipated increased collaborations between Big Dairy and Animal-Free Dairy, as well as a surge in blended products, but the reality differed in the past year.
Despite the hits and misses, the surprises that 2023 had in store have only stoked the anticipation for what lies ahead in 2024. So, stay tuned for my forthcoming predictions, and let’s unravel the mysteries that the ever-evolving world of food holds in the coming year.
