Source was in Vancouver April 6-9, attending the CHFA West 2017 tradeshow. While there, we sat in on several education sessions, including a presentation on Top Trends in the U.S. Food & Beverage Market, by FoodNavigator-USA.com.
We heard that retail sales of foods and beverages reached $507.65B in 2016, with natural and organic brands expected to continue steady growth. Sales of natural and organic foods and beverages rose 8.5% (to $74.8B), according to Nutrition Business Journal. Functional food and dietary supplement sales also enjoyed steady growth in 2016, rising 7.6% (to $59.7B) and 6.6% (to $41.4B), respectively.
FoodNavigator-USA.com’s Elaine Watson predicted that food, nutrition and health care will become more intertwined, and that technology will continue to impact how consumers shop. The latter will result in supplier R&D being more focused on leveraging digital, mobile and social technologies. Several ingredients were dubbed the “next to watch”, including mushroom mycelium, algae, cricket powder, novel sources of plant protein, and fermented foods.