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Food Trends 2023

Tired of looking at stale data? Our list of food and beverage industry trend predictions for 2023 & beyond. Check out what's on it.

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Food Trends 2023

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  1. About Spoonshot • Food & beverage intelligence company • Rich insights powered by our AI, #foodbrain • Leveraging 28K+ external, diverse data sources • Specialized research platform for consumer needs, trends, and opportunities Get FREE insights: spoonshot.com/start Disclaimer: The research andclinical materials mentioned in this report are for informational purposes only. It is not intended to replace medical advice offered by physicians.

  2. Trends 2023...Let’s Go! You can also read entire blog at : https://spoonshot.com/blog/food-trends-2023/

  3. Table of Contents

  4. Urgen-sea The need for seafood alternatives has become imperative.

  5. An alternative future for food emerges 262% Growth in interest in alternative foods between Jan 2016 and April 2022 Interest in dairy, meat, and fish alternatives Since 2016 Alternative future for food are as diverse to include high protein insects, plant-based meat substitutes, lab-grown meat and milks made from soya, almond, cashew,etc. The trends show that the sea will also contribute to the global food supply. 137% 1,243% 436% Source: Spoonshot

  6. Interest in alternative foods is growing What was once seen as a fringe offering for a very niche audience is now front-and-center strategy for brands across the industry, even for segments that would normally consider these products to be direct competition. Interest in alternative foods has grown by over 3.5X between Jan 2016 and April 2022. Spoonshot measures interest as the occurrence of a particular topic over time based on articles and blogs published in the media. Further analysis of the alternatives space shows that the bulk of these alternatives is in the dairy and meat space. Interest in these two broad categories is driven by perceived health benefits, concerns over animal welfare, and the breakout star driver, sustainability. And alternative fish and seafood is where we expect to see the next big growth spurt in terms of innovation - not because it’s sort of obvious, but more importantly, because there is greater urgency for fish alternatives than meat alternatives.

  7. Consumers are reducing meat, but not fish Flexitarian diets are gaining more popularity as consumers try to consume less meat and less frequently. Red meat consumption has been linked to various health and climate issues and factory farming has raised concerns about the overuse of antibiotics and the spread of new diseases. Interest in select diets Global fish consumption has doubled since 1998, and it is projected to go up by another 80% by 2050. Since 2016 117% Only 2% of conversations on fish and seafood also mentioned vegan. 341% Source: Spoonshot

  8. Fish consumption is growing Global fish consumption has already doubled since 1998, butnew research from Stanford projects this to go up by another 80% by 2050. Spoonshot data shows that interest in pescetarian diets - not consuming meat, but consuming fish and seafood - is on the rise, more than doubling (117%) since 2016 and growing by 9% in the 12 months to April 2022. Interest in flexitarian diets grew by 341% since 2016 and by 38% in the last 12 months. Flexitarian diets are gaining more popularity as consumers try to consume less meat and less frequently. Too much red meat consumption has been linked to various health issues and factory farming has raised concerns about the overuse of antibiotics and the spread of new diseases.

  9. Fish is sought after for it health benefits Top nutrients consumers associate with fish and health together Consumer health trends are influenced by advancements in science, higher incomes & awareness and aging populations. Unsurprisingly, fish is slowly gaining popularity for its health benefits and taste. Seafood, especially fish, is an excellent source of Omega 3 Fatty Acids while being low on fat. Protein - 20.7% Low-carb - 8.8% Low-calorie - 8.6% Omega 3 - 4.0% Source: Spoonshot

  10. Global fish populations are dwindling 90% of marine fish populations have been fully used, overused, or are under severe threat Main reasons for declining fish and seafood populations: • Growing global consumption • Overfishing and unsustainable fishing practices • Rising ocean temperatures • Pollution One third of global freshwater fish populations are in danger of extinction Source: IRIN, UNCTAD

  11. Fish populations are declining Unlike livestock, whose populations are projected to double by 2050, freshwater and ocean fish populations are dwindling at alarming rates. Some estimates say that 90% of marine fish populations have been fully used, overused, or are under severe threat as a result of overfishing. 90% of predatory fish such as cod, sharks, tuna, and swordfish have already disappeared from our oceans. If the world continues at its current rate of fishing, there will be no fish left by 2050. Freshwater fish are facing similar issues. A study by a group of global conservation organizations assessed that as many as a third of global populations are in danger of extinction. Populations of migratory freshwater fish have declined by 76% since 1970, and large fish – those weighing more than 30kg – have very nearly been wiped out in most rivers. The global population of megafish - those that weight more than 100 kg - is down by 94%. Sixteen freshwater fish species were declared extinct in 2020. Source: IRIN

  12. Reasons for and impact of declining fish resources Main reasons for declining fish and seafood populations: • Growing global consumption • Overfishing and unsustainable fishing practices • Overheating waters • Pollution The impact of all of this is being felt right now. • Fish prices have gone up, as with most other foods, thanks to a combination of supply chain issues and the Russia-Ukraine war. In theUK, a recent report said that the average price of fish and chips has gone up by 21% and over 3,000 fish and chip shops may be forced to shut down as this inexpensive dish starts to go out of reach for many. • Due to pollution, microplastics and toxins are finding their way into several species of ocean and freshwater fish, which then enter our food chain. Given these issues, it is imperative that we focus on alternatives for fish and seafood.

  13. Plant-based seafood is still a very small space Total US plant-based food sales (US$ million) and growth (%) by category, 2021 Plant based seafood such as carrot-based vegan salmon, pea-based tuna, konjac-based shrimp, palm-based crab capture the flavour and essence of seafood. US$14 million Plant-based seafood sales for 2021 Source: Good Food Institute, Plant Based Foods Association, SPINS

  14. Share of different plant-based foods in the US, 2021 20% 16% 2.7% 1% Plant-based milk: 16% of retail milk sales Plant-based meat: 2.7% of retail packaged meat sales Plant-based seafood: 1% of plant-based meat Conventional seafood: 20% of total meat and seafood sales Source: Good Food Institute, Plant Based Foods Association, SPINS

  15. Sophie’s Kitchen finds growing interest in alt seafood “Plant-based seafood can be nutritionally equivalent or superior to conventional seafood. A study by Kelton Global commissioned by non-profit organization and alternative-protein advocate The Good Food Institute found nearly three in four consumers are interested in alternative seafood. Along with growing consumer interest in plant-based foods, factors like the high incidence of seafood allergies and the high price points of many seafood products—especially products that are consumed raw and thus pose special consumer risks—generate a sizable number of highly motivated early adopters and market entry points for alternative seafood products. Additionally, after learning about plant-based and cultivated seafood, 42 % of respondents said they found plant-based seafood appealing, and 43% would consider purchasing it in the future.” • Miles Woodruff, PhD, CEO & Co-Founder, Sophie’s Kitchen

  16. Health benefits of plant-based, cultivated seafood ranked Question: “How important would each of the following health factors be in your decision to eat plant-based or cultivated seafood over wild-caught or farm-raised seafood?” These numbers are those who selected somewhat important or extremely important Source: Data provided to Spoonshot by Miles Woodruff, PhD, CEO & Co-Founder, Sophie’s Kitchen

  17. Business interest takes off, while consumer is slower Consumer and business interest in plant-based fish Plant based Fish - Business Predicted Plant based Fish - Business Since 2016 The high association that fish has with health in consumers’ minds versus meat has proven to be a major roadblock in the growth of alternatives. 105% 3745% Source: Spoonshot

  18. Barriers to the growth of seafood alternatives Main complaints about plant-based fish launches <0.2% of seafood product launches are plant-based or vegan Based on product reviews, flavor and texture are the main barriers to the growth of this category. Source: Spoonshot

  19. Consumer associations with vegan seafood Health concerns and ecological imbalance are the major concerns impacting the shift to plant-based seafood. Of course, the taste and flavour should replicate the actual seafood to help it gain popularity. Most talked about dishes 6.7% of conversations 3.0% of conversations Fish and chips Sushi 1.2% of conversations 1.0% of conversations Crab cakes Tacos Note: These are based on consumer conversations on vegan fish/seafood Source: Spoonshot

  20. Ingredients to consider to improve consumption experience The graph below captures the top ingredients used to recreate the seafood experience and taste. While the market is still in its infancy, It is a promising trend as the food can provide nutritional benefits to vegans and vegetarians. Most popular ingredients in alt seafood products: • Soy beans • Fava beans • Peas • Haricot beans • Green lentils Source: Spoonshot

  21. World’s first unbreaded jackfruit fish fillet is launched Medium Very High High Medium High High Novelty Novelty Novelty Flavor Flavor Flavor Jackfruit + Kelp Seaweed 8.58 Consumer Recipes: Vegan Jackfruit Nasi Lemak, Jackfruit Tuna Melt Sandwich, Vegan Baja Fish Tacos Menu Dishes: Un-Crab Seaside Salad, Elephant Curry Bowl Product concepts for vegan seafood Mushroom + Kelp Seaweed + Cocoa Bean 8.56 Consumer Banana Blossom + Seaweed Powder + Salt 9.0 Consumer Source: Jack & Bry; The Cornish Seaweed Company

  22. Jackfruit and seaweed make for a strong plant-based fish The Cornish Seaweed Company and Jack & Bry, a gourmet plant based meat company that uses jackfruit as its base ingredient, announced the launch of what they’re calling the world’s first unbreaded jackfruit and seaweed fish fillet. The fish fillet is vegan and made with cooked white flakes of jackfruit, which are marinated in a blend of seaweed to accurately replicate the white, flaky texture of fish and re-create an authentic seafood taste. Our data had no other products using this combination, but there were home recipes and menu dishes that did. The seaweed and jackfruit combination had very high novelty and a high consumer acceptance score. We also looked at possible concepts based on ingredients consumers spoke about. Mushroom + Kelp Seaweed + Cocoa Bean has a high consumer score and flavor score. Banana blossom + seaweed is also a potential option, since banana blossom does actually offer the flaky texture of fish.

  23. Algae emerge as viable ingredients for faux fish The bulk of retail products so far have used legumes and vegetables as the base ingredient to mimic seafood/fish. However, new companies have started to consider more novel ingredients - like algae - that could help get the flavor and nutrition right, while also being more sustainable. Seafood Reboot This Paris-based startup is said to be working on seafood alternatives that will be vegan, non-GMO, and algae-based. Revo Foods This Austrian startup has developed a texturized salmon fillet made from pea protein and algae extracts, and is 3D printed. ALGAE 0.01% penetration in products Novelty High Source: Seafood Reboot, Revo Foods, Spoonshot

  24. Spirulina shows significant potential for fish analogs Israeli food tech company SimpliiGood has developed the first smoked salmon analog made from a single ingredient - spirulina. This product is expected to hit the market by 2023. 95% pure, fresh spirulina + minimal flavour and oil At SimpliiGood’s spirulina farm, • 98% of water used is recycled • 50 tons of spirulina is produced/year • Harvested every 24 hours 0.16% Products containing Spirulina in ‘All’ categories Consumer 6.40 Novelty Medium Source: SimpliiGood

  25. What does our data say? Spirulina is a blue-green algae growing in both seawater and freshwater. The ingredient is known to reduce inflammation and aging. It is a great alternative people consuming vegan diets.. Medium Medium High High Novelty Novelty Flavor Flavor Consumer and business interest in spirulina, US 11% 13% Next 12 months Claims related social media conversations on spirulina linked to protein Nutrition related social media conversations on spirulina linked to protein Last 12 months Spirulina + Sesame oil Spirulina + Safflower oil 28% 42%

  26. Spoonshot’s take Indiscriminate fishing, warming waters, and rapid consumption together have resulted in the very real possibility of a future with limited access to fish and seafood. There is now an urgent need to increase the focus on seafood alternatives, be it plant-based or lab-grown, compared to dairy and meat alternatives.

  27. A Clean Plate Calls for clean label claims in plant-based foods are becoming louder.

  28. A Clean Plate Calls for clean label claims in plant-based foods are becoming louder • Earthy Endeavor Soil health emerges as an important part of sustainable food production To get full information on the above two trends. Please read the blog post: https://spoonshot.com/blog/food-trends-2023/

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