- On January 23, 2023
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- 2023 Trends, Brand Development, Business Technology, CEO, cloud erp, ERP, Fermentation, food and beverage, Food and Beverage Software, food erp, Food Industry, Food Insight, food manufacturing, food technology, Food Trends, Omnichannel Marketing, SFA, smb, SMB Food ERP, Softengine, Specialty Foods, sustainability, Upcycling
2023 SFA Winter Fancy Food Show Themes
Our team had such a fantastic time attending the 2023 SFA Winter Fancy Food Show last week in Las Vegas! From chatting with and spending time with our valued customers, learning the most up-to-date food and beverage industry trends, and educating ourselves on current topics, the Fancy Food Show was incredible!
A few of our main takeaways and show themes that we want to share about the food and beverage industry are centered around:
- The Power of Data
- Omnichannel to Target the Customer
- Brand Development and Marketing
- AI Automation
Sustainability: With every passing year, the specialty food industry finds more ways to be sustainable. Modern consumers are attracted to products that are made with sustainable ingredients as well as manufactured and distributed sustainably. Sourcing the most natural, organic ingredients with as little preservatives as possible is becoming increasingly common as consumers are demanding cleaner and more natural foods. In addition to sustainable food and ingredients, sustainable packaging is also a huge aspect of being a sustainable food business. Sustainability efforts are only looking to increase as time goes on, and by practicing these awareness methods the planet will thank you as well as your happy consumers who enjoy the products!
Fermentation: The Fermentation industry is taking the world by storm! As a growing $846 billion industry, both fermented foods and beverages are trending on consumer lists. Fermenting foods helps to develop the natural flavors even further as well as provide consumers with healthy bacteria and nutrients. From yogurts, sauerkraut, to kimchi and kombucha, fermented foods are only gaining popularity amongst health-conscious consumers looking for the specific benefits they provide. For even more information about Fermented foods, take a look at the end of the blog for a link to the Periodic Table of Fermented foods.
The Power of Data: Within the food industry, it is extremely important to have access to data in order to make proper decisions. When dealing with products that have varying shelf lives, it is essential to have accessible data to help manage shelf lives and shelf stability. Data also provides insight into where your business is achieving the greatest successes and the areas where there is room for improvement. Knowing where the wins and losses are is key to provide customers with the best experience possible and prevent upsets such as stock outs. Powerful data drives a more resilient and visible supply chain to ensure efficiency and effectiveness throughout business processes.
Upcycling: Making good use of byproducts and waste during the manufacturing process is something that is becoming more and more common within the food industry. Because there are many ingredients and components that comprise finished food products, as a result there can be substantial amounts of waste. Every year in the United States, 108 billion pounds of food are wasted. This troubling statistic demonstrates how much work we have to do in the U.S. to cut back on waste and become more sustainable with our food. By upcycling fruit and vegetable waste into products such as chips or juices, it helps contribute to the sustainability efforts as well as provides consumers with a tasty, sustainable new product.
Omnichannel to Target the Customer: Omnichannel marketing is becoming increasingly important in order to target and reach your customers and market. With the emergence and boom of digital marketing, it is becoming essential to utilize social media as a core marketing strategy. Consumers are getting their information and influence from social media. By having a presence on ecommerce platforms as well as working on a strong social media presence, it allows for even more exposure than only selling and advertising in brick-and-mortar locations or on a singular platform. Overall, by developing an omnichannel strategy, your specialty food product can get the exposure it needs to reach and satisfy the target market.
Brand Development and Marketing: Investing in your brand and building that story and message for consumers to connect to and resonate with is one of the most important processes specialty food makers must do. It is up to nobody but you to educate the consumers about how your product performs and how it will benefit their health and bodies. By developing a loyal customer base, it will be beneficial when it is time to get in front of a buyer to show that there is a demanding customer base for your product. With a strong, recognizable, unique brand that resonates with customers coupled with a stellar omnichannel marketing strategy, the opportunities are endless!
Overall, these are trends to definitely keep an eye out for in the specialty food industry. Our team at Softengine truly had a wonderful time listening to the panels of intelligent specialty food professionals and gaining so much knowledge about the industry and the up and coming trends. The specialty food industry is only growing, and along with growth comes the necessity for AI and software to streamline internal business processes.
Here at Softengine, we put in the effort to understand the food and beverage industry. Coupled with the leading ERP solution for small to midsize businesses, SAP Business One, our team developed Food One. Food One is a solution designed specifically for the SMB food industry to help streamline and connect all of the internal business processes. SAP Business One Food One provides the data driven insights required to make the proper decisions regarding shelf life, stock levels, and supply chain managing. We would love to help your SMB food business run better with Food One powered by SAP!
Check out our website for more information regarding food topics and sustainability efforts: