Waste valorization is being changed from linear to circular. Food loss or waste account for a third of all food produced across the world. This food waste offers a fantastic chance to feed the globe sustainably. Many companies transform waste into valuable components or products to have a sense of Corporate Social Responsibility and promote sustainability.
Canola is poised to take on soy. To minimize monoculture farming and biodiversity loss, diversifying our plant-protein sources will become even more crucial. Because of its high production capabilities and excellent amino acid composition, we believe canola protein will unseat soy’s supremacy in the plant-based sector.
Immunity is derived from plants. In 2021, we predict natural sources of vitamins and minerals will be in higher demand. The vitamin C content of botanicals like acerola and citrus fruits, for example, is well known. Experts anticipate that ingredient providers will invest more in producing specific plant-based vitamins and minerals to fulfil these needs.
Digitalization of the supply chain. Consumers are curious to know how their food is made, see confirmation of where it comes from, and see that it is safe. Food firms are transforming digital technologies like blockchain, artificial intelligence, and near field communication from a “good to have” to a “must-have.”
In agriculture, regenerative is the new sustainable. The urgent need to renew our agricultural supply base is reflected in key food industry players’ evolving business plans. By 2030, General Mills plans to implement regenerative agricultural methods on 1 million acres of farmland. In 2021, we can expect additional announcements in this area.
With the help of a cloud platform, the most successful businesses attain high levels of adaptability. The cloud’s popularity will continue to rise in 2021, as the market recognizes the benefits of cloud technology’s agility, connection, and scalability. Cloud-based technology also facilitates digital transformation by aiding IT staff with fewer time-consuming integrations and modifications.
Historically, food and beverage producers have relied on merchants to sell their products. With the aid of firms like Amazon, the paradigm is evolving. But the epidemic has also prompted an increase in omnichannel distribution. Many firms are launching B2C food and beverage commerce, which reduces reliance on current distribution channels while meeting the requirements of modern consumers.
Industry 4.0 and the Internet of Things (IoT) have been around for a while. But many firms have been reluctant to implement such technology, identical to how the cloud has been slow to adopt. Intelligent sensors are currently installed in factory equipment to collect data, but as Industry 4.0 usage rises, producers will put that data to use. With enabling technology that gives a comprehensive picture of data and offers a platform that can transform data into insight, and subsequently, a competitive advantage, organizations will emphasize planning and proactivity in the future.
It’s one thing to gather information. Information’s another thing entirely to evaluate and share with the rest of the company and supply chain. More manufacturers will modify how they collect and use data in the next year to improve processes, promote sustainability, and optimize their overall operation. More accessible data will benefit both the company and its customers, from picture recognition to establish a more accurate product shelf-life to improved product traceability.
The stories of resilience and sustainability are addressed in Trends 1-4. Manufacturers will search for methods to convey that message to partners and customers alike once that framework is in place. For firms with a long-term growth strategy, transparency will be a major priority next year. Scannable label initiatives to help customers keep track of their food, ingredients, and nutritional value are only the tip of the iceberg. Consumers are ready to pay a premium for transparency, and manufacturers will strive to capitalize on this demand by meeting it.
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