Food Industry Trends: 2019
The world around us is transforming rapidly and every industry must evolve to keep pace with such rapid advancements. If you though 2018 to be a turbulent year for food industry players, its time you give that a second thought because 2019 is likely to herald further food industry shake-ups. Starting from the growing influence of start-ups and the rising concerns over bigger issues such as- food security and food-related health issues, the players that are unaware of the recent food industry trends are likely to be pressurized soon.
Industry trends are good indicators of the future market scenario and offer a clear picture of what customers want. Don’t you think this is a pretty good reason for you to keep abreast of the recent food industry trends?
The following are the top food industry trends to watch out for in 2019:
- Food as medicine: Future innovations in the food industry will revolve around the around the need to find solutions for major issues facing the industry. Food industry players will have to face the dual challenge of feeding the aging as well as a growing Also, the rise of food-related health issues is parking a greater awareness of the link between food and health.
- Technofoodology and AI: The ongoing technological advancements are likely to boost transparency while disrupting the overall food chain. Technologies like blockchain which was first implemented in the financial services sector have now started gaining prominence in the food industry owing to the increasing expectations for transparency.
About the Client
The client- a world’s leading player in the food industry in Europe. The client is also one of the largest food manufacturers in Europe in terms of turnover and employment.
The growing competitive pressure made it imperative to conduct a detailed analysis of the market supply curve. By analyzing the market supply curve, the client wanted to determine the price that the end-users were willing to pay for their products.
The supply market intelligence experts at SpendEdge conducted an in-depth analysis of the food industry in Europe. We then moved on to the analysis of the market supply curve which showed a positive correlation between the price of the products and its market value. By doing so the client was also able to better understand the reason behind the increasing supply and decreasing demand for their products.
The law of demand in conjunction with the law of supply formed the basis for the development of effective supply strategies. However, the success of this engagement was mainly dependent on the ability to analyze the market supply curve to determine sound strategies to improve returns on per unit of goods sold.
The solutions and recommendations also empowered the client to:
- Identify factors that affect demand
- Determine factors that affect supply
- Analyze supply curves and supply shifts
- Analyze demand curves and demand shifts
Would you like to learn more? Get in touch with our supply market intelligence experts to gain in-depth insights into how a market supply curve analysis can benefit your organization.