2020 Trend Report: How the Pandemic changed the Food Market
Neu-Isenburg, Germany – The LSG Group has evaluated how the COVID-19 pandemic is influencing trends in global food markets. Based on their annual Trend Report, the company’s experts analyzed the impact of the corona crisis using market and consumer data. They concluded that of the 16 previously identified trends, one has temporarily lost momentum. The significance of eight remain unchanged while the remaining seven trends have since become more prominent.
“With the revised Trend Report, we can help our clients to respond constructively to the crisis,” said Dr. Kristin Neumann, Chief Financial Officer (CFO) of LSG Group. “Our analyses can be used to develop individual concepts that meet the demands of the times and appeal to consumers.”
The data shows that the “digital food” trend has become more important. More than ever, pre-order and pre-select solutions are seen as the answer to the digitalization of the catering business and the food industry. “We are noticing an increasing demand from airlines for solutions in this area. This is not only for cost reasons – the trend towards individualization is still growing. Airlines are interested in offering passengers a better and more individual flight experience. Through digitalization, the goal of reducing costs is compatible with this,” explained Frank Theis, Senior Vice President of Global Sales & Marketing at LSG Group.
The trends “Celebrating Heritage” and “Body Boost” also moved more into focus. Lockdown restrictions and social distancing have led to more frequent and elaborate home cooking – often using traditional recipes. At the same time, proper nutrition and its impact on one’s health has gained relevance. “Such insights show us what concepts and products are needed to be successful in the market,” said Sunbul Dubuni, Director Customer Insights and trend expert at LSG Group. Jörg Hofmann, Head of Culinary Excellence, agreed: “Our customers want contemporary and creative products that meet the requirements of the new normal. We as chefs can use the data and our culinary expertise to develop the appropriate innovative products”.
The reason the “Rethink Materials” trend has lost its importance is due to the increased demand for packaged products in favor of food safety. Torsten Müller, Head of Global Product & Service Portfolio Management at LSG Group, believes that this is a temporary phenomenon: “I’m sure that the topic of sustainable products will soon be of great importance to consumers again. That’s why we continue to develop solutions that meet the demand for sustainability.”
The complete 2020 Trend Report is available for download here.