The event held in London was an intimate and relaxed gathering, featuring a knowledgeable group of industry experts who weren't there to push products, but rather, to share their thoughts and ideas. The audience consisted of a diverse mix of food and beverage manufacturers, food service providers and operators, and a handful of retailers, contributing to a well-rounded and informative day filled with lively conversations and shared insights.
Rather than rehashing the entire agenda, my intention is to provide a condensed summary of the relevant topics, with a focus on novel and significant areas. However, summarising is not an exact science, so my apologies if I missed any insightful comments made by presenters.
My overall summary of the themes for the day:
Consumers are the focal point of the food industry, especially when it comes to healthy eating. However, there is a great deal of confusion surrounding the subject, with even some industry experts admitting to being perplexed. While the trend towards plant-based eating seemed to be the solution, it has recently encountered a backlash following Tim Speak's concerns about highly processed foods.
Manufacturers are struggling with the rising cost of inputs, which have increased by 20% or more, and grappling with the complexities of achieving sustainability goals. On the other hand, retailers are combatting the cost of living crisis by encouraging shoppers to switch from branded products en masse.
The Food Service industry is facing a tough time as shoppers are choosing to eat out less frequently, leading to a decrease in footfall and morale. Staff shortages only add to the challenge. While some suggest that technology like robots could help alleviate these issues, the question remains whether they will be cost-effective enough to make a significant impact.
Looking at the latest trends in a bit more detail:
* "Ignored" - manufacturers and retailers are choosing not to put desserts on end rather than re-formulate them to meet the non HFSS requirements.
Post Covid and with the onset of the cost of living there have been a number of broad trends for shoppers as they battle to make ends meet. BTW a number of presenters were quoting Kantar research, which helpfully the BBC have just done a summary of: 'Massive shift' in food shopping habits as prices soar.
There were a couple of overlapping presentations, but you can get more on the Foodservice Trends from Bidfood here
The highlights for me were:
Supply chains in the food industry continue to face major challenges, including rising costs, sustainability concerns, and issues with reliability and traceability. Companies are working hard to maintain stability, but with no end in sight to the war in Ukraine, improvement may be slow. Some suppliers noted a small improvement due to the strengthening of the pound against the USD over the past nine months.
Additionally, the high failure rates of new product development (NPD) are seen as a sustainability issue, with one panelist commenting that there is room for improvement in the current 80% failure rate and the associated waste.
The topic of healthy eating was a recurring theme throughout the event, and it was clear that there is a lot of confusion surrounding the subject. One of the main challenges is the lack of clear and consistent recommendations from the government, NHS, and the food industry.
It's a complex issue that requires strong leadership and practical solutions that are convenient and affordable for everyone. Segmentation may be necessary to find a tailored approach that works for different groups. Nonetheless, there is an opportunity for someone to step up and provide clear guidance on what constitutes healthy eating.
Hearing the discussion, here is my view of what such a health food policy / recommendation need to be to be successful?
The event was organised by Global Insight Conferences as one of many they run each year. CheckoutSmart were not asked to attend or review the event by the organisers and paid to attend.