Executive Summary

As consumers gravitate to healthier choices and budding trends, the food and beverage space is experiencing yet another major shift in the post-pandemic era. A few once-hot categories, like hard seltzers and plant-based burgers, have become crowded, making way for expanding consumer preferences. These changes have prompted companies to create new product lines, collaborate with other companies and scale back on trends that are now tapering off.

The good news is that 2023 has opened up several exciting paths for food and beverage companies to invest in changing consumer interests. As new trends emerge this year, it’s critical for companies to satisfy consumer demand and position themselves as first choices in the market.

The Trends and Challenges Defining Food, Beverage and Agribusiness in 2023