According to a recent analysis published by GurusFMGC, it will be essential for food and beverage brands to anticipate and stay ahead of key trends shaping consumer behaviors and attitudes next year.

Markets have been shaped by a predominant theme of uncertainty and concern as consumers face challenges such as war, the pandemic, price inflation, and increasing pressures on food systems.

As a result, consumers have accepted the inevitability of uncertainty and have adopted a day-to-day focus, striving to protect their physical and emotional well-being.

The top trends identified by GurusFMCG for 2024 are as follows: 1) Maximize My Value 2) Green Horizon 3) My Plate, My Profile 4) Strive for Happiness 5) Natural Harmony 6) Breaking Barriers 7) Technology Meets Taste 8) For Today, Better Tomorrow 9) Pursuing Simplicity 10) Revive and Prosper. Here are the top five trends:

1. Maximize my value

53% of global consumers are actively looking to reduce food and beverage spending (FMCG Gurus, 2023).

Consumers are feeling the impact of price inflation and are actively trying to reduce their food and beverage spending. As consumers adopt recessionary spending habits, brand loyalty declines and they become more willing to explore shopping options.

Despite this, consumers will try to minimize trade-offs. They will look for resourceful ways to avoid giving up, such as reducing food waste and taking advantage of promotional offers.

Brands should respond by introducing packaging innovations to extend product shelf life and offer customized promotional offers that meet individual needs.

Spending cuts are expected for non-essential and convenience-based occasions. However, consumers still want daily treats and rewards without compromise. Many individuals are now looking for more premium treats through retail channels. It is essential that these treats remain affordable and do not lead to post-consumption guilt.

The retail sector is witnessing an ever-increasing demand for premium treats as consumers seek to recreate restaurant-quality experiences at home or enjoy small treats for moments of escape and socializing with loved ones.

2. The Green Horizon

8 out of 10 global consumers would trust a company more if it used regenerative agriculture (FMCG Gurus, 2023).

Consumers are increasingly aware of the impact of climate change on food production chains and recognize that agriculture itself contributes to the problem.

They expect all producers, regardless of size, to adopt resource-efficient and green practices that preserve biodiversity and natural resources. This control extends not only to large multinational corporations, but also to small and local producers.

Recycled ingredients have gained traction due to their ability to address the pressing problem of food waste.

Brands must demonstrate ingenuity throughout the supply chain to align with consumer values. However, while consumers recognize the urgency of the climate crisis, sustainability claims alone do not drive purchase decisions alone.

Environmental messages can be overwhelming, especially during uncertain times, and associating such products with higher prices can deter consumers. In reality, shopping habits are not driven solely by altruism. Therefore, brands should promote the value of green products by highlighting the additional benefits.

3. My plate, my profile

28% of global consumers say they have made greater efforts to use apps to closely monitor their diet and lifestyle (FMCG Gurus, 2023).

Health monitoring apps continue to grow in popularity as individuals recognize the impact of their DNA and unique genetic makeup on their well-being.

This trend paves the way for the next wave of innovation in the health and wellness market: personalized customization based on genetic sampling. This is especially relevant given the growing understanding of the importance of a healthy gut microbiome.

While questions may arise about the accuracy and ethical implications of such personalization, consumers will expect technological advances to enable real-time health monitoring and provide personalized solutions that meet their specific needs and goals.

4. Strive for happiness

57% of global consumers say they have sought to improve their mental well-being in the past year (FMCG Gurus, 2023).

In recent years, rising prices and the fast-paced nature of our post-pandemic world have had a significant impact on consumers' emotional well-being. As a result, a large number of consumers are actively looking for ways to improve their mood and improve their mental well-being.

When asked about their definition of good mental well-being, consumers consistently prioritize happiness as a fundamental aspect.

They are inclined to withdraw from the pressures of everyday life and reevaluate their priorities, leading them to prioritize better sleep habits and healthier eating patterns.

5. Natural harmony

59% of global consumers say they have become more careful about ingredient lists in the past year (FMCG Gurus, 2023).

Consumers are actively paying attention to the ingredients used in product formulations and are looking to make quick and informed decisions about the nutritional profile of a product.

The focus on reality and authenticity is highly appreciated by consumers. They look for products that they perceive as natural because they believe that these are better for both their own well-being and the environment.

This trend toward authenticity has led to increased demand for products with no-nonsense claims and simplified ingredient lists.

However, it is important to ensure that any streamlining of ingredients is not misconstrued as a cost-cutting exercise, as consumers value both authenticity and quality.