Upcycling, creating food and drink from food waste is also a growing trend, according to a 2021 Mintel report on product innovation. Photo Credit: gettyimages/Irina_Strelnikova
The food and drink sector is big business around the world, with the
industry having boomed during the Covid-19 pandemic. While much of the
world retreated into lock-down and an uncertain future, there was one
constant: people needing to eat, and the food and drink sector came into
its own.
A Mintel report released in 2021, which examined product innovation
insights and consumer trends from across Asia Pacific, identified a
number of trends. In China, for example, it highlights how fashion is a
new frontier for food and drink brands, representing a different way of
achieving cut-through in the increasingly competitive online world.
This, says Mintel, is particularly apparent in China's developed social
commerce retail environment, with consumers looking to food to provide
more than nourishment.
“Factors such as aesthetics, novelty and/or covetability are vital
for brand relevance and driving sales,” said the report, noting that a
significant number of Chinese consumers are willing to pay more for an
aesthetic container or packaging.
Upcycling, creating food and drink from food waste is also a growing
trend. Singapore-based food tech company Crust Group has used surplus
ingredients like bread and fruit peels waste to make beer and
non-alcoholic beverages.
In Thailand, the Mintel report identified ‘healthy indulgences’
rising in popularity, driven by a ‘clean eating trend’ and the fact that
stressed-out consumers are increasingly turning to indulgent desserts
and beverages for emotional relief.
The Asia Food Challenge 2021 report, produced by PwC, Rabobank and
Temasek, highlights how today’s consumers are more discerning about the
food they eat, influenced by changing demographics, rising affluence and
growing incomes.
“More Asians opt for sustainable food consumption behaviours such as
avoiding food wastage and buying local,” the report says. “The need for
more sustainable food options has also bolstered interest in plant-based
protein among Asian consumers, who are more open to vegetarian or
flexitarian diets.”
Flavours to watch out for
From 8-11 September,
Singapore Expo will host the 19th edition of the World Food Fair, which
showcases groceries, organic and healthy food, ready-to-cook food items
and innovative food ingredients. The Malaysian International Food &
Beverage Trade Fair 2022 is also taking place from the 6-8 July at the
Kuala Lumpur Convention Centre.