2016 was an unforgettable year for many since that year was hailed as the year of veganism. Though many still see veganism, i.e., the abstinence from the use of animal and dairy products, as an extreme cultural practice. Its growing popularity is a clear indicator that the consumption of vegan food products is no longer a marginalized social movement. Vegan food products, although a niche market segment, is growingly rapidly due to the widespread adoption of veganism throughout the world. Its contribution to the ecological footprint and abstinence from animal cruelty are other factors for the rise in consumption of vegan food products.
The Business Challenge
- The Client: A vegan food online distributor
A leading vegan food online distributor specializing in import/export and distribution of vegan food products in the U.S wanted to understand the relative risks in the industry. To implement an effective procedure for assessing the risks the client approached Infiniti Research. They were looking at leveraging our expertise in industry risk assessment to analyze market risks and maximize savings by being proactive rather than being reactive.
Industry Risk Assessment Benefits
Risk assessments offer a clear understanding of where a company stands considering the current global scenario and the factors affecting the market. Though this process seems to be tedious, or sometimes tyrannical, it helps companies gauge risks and make necessary adjustments to their business strategies. However, in the vegan food products segment, this is now turning out to be a necessity.
Summary of Our Industry Risk Assessment Engagement
The market experts at Infiniti Research adopted a comprehensive approach to identify and analyze the risks in the vegan food market. It included a detailed analysis of factors affecting market growth and its impact on business strategies.
The industry risk assessment study included in-depth primary and secondary research coupled with qualitative and quantitative data collection procedures. The risks assessment experts also took inputs from various stakeholders in the vegan food market.
Solution Benefits and the Business Impact
This study enabled the vegan food online distributor to implement a robust risk management system to identify market risks. The comprehensive analysis of the risks from the point of view of our specialists helped leverage their industry expertise and draw a conclusion from vast datasets to mitigate risks.
The solutions offered also enabled the vegan food online distributor to gain detailed insights into the potential risks in market expansion. This, in turn, helped them alter business strategies and expand their business units to enhance reach.
The Future of Vegan Food Products Segment
With the increasing complexities of the global vegan food products segment, leading organizations are finding it hard to scale up in terms of sustainability. Due to many such factors, capital expenditure plans are torpedoed and insightful business strategies are being ignored across sectors. However, to set precise business plans and act accordingly, it is essential to assess the risk in the industry that has the potential to destroy their business goals.
A must-read case study for companies looking to develop an understanding of the importance of risk assessment in the vegan food products segment.
Food holds a special place in our lives. It is a part of who we are and operates as a medium to express our cultural identity. 2017 was a curious year when it came to new food trends going mainstream. From huge soup dumplings and Buddha bowls to cones with chicken waffles, there were plenty of new things to give your taste buds a new experience. Every new year, we promise ourselves that we’re going to try some new food, right? And if you’re wondering what new food trends are taking restaurants by storm this year, don’t worry we got you! We’ve analyzed all the latest innovations and developments in the food industry to determine what you’re going to want this year – and the best part is, you don’t have to run all the way to exotic stores to enjoy them.
New Food Trends 2018
The past decade has witnessed a rise in the ‘veganism’ fad among people. Consequently, there has been an explosion of new vegan food trends, ingredients and innovative recipes in the market. Today, vegan food has moved away from being tagged as ‘boring’ to more delicious options. One trip to the market or a retail store is enough to understand the progress that plant-based eating has made, as last year’s vegan food trends have become grocery-store staples now. As consumers are becoming more mindful of the products they put in their bodies and of the environmental impact they have, manufacturers have started becoming more conscious while catering to these needs. For instance, big brand names like Ben & Jerry’s, Breyers, Häagen-Dazs, and Halo Top have introduced vegan flavors recently. Here are our top picks of the vegan food trends that mean good news for our plates and taste buds this year:
- Meat alternatives
Cruelty-free meat alternatives is one of the vegan food trends that has been going mainstream in recent times. Recently, there has been a huge rise in innovative plant-based options, including lab-grown meat made from cultured animal cells. Last year, we witnessed an increase in the popularity of meatless burgers such as those from Impossible Foods and Beyond Meat. And now they’re becoming available at restaurants and grocery stores across the nation.
- ‘Black food’ trend
Activated charcoal is one of the most innovative and healthy vegan food trends doing the rounds today. They are known for being able to draw toxins from the body and help with your well-being. Activated charcoal also lowers cholesterol and supports digestive health. Vegan food companies have introduced food trends like charcoal ice-cream and water that are becoming highly popular among the vegan population.
- Full-fat everything
Fat is back in trend. Vegan food products that are high in fat content, such as avocados, coconut, nuts, and seeds instead of processed, are becoming favorites among people. These vegan food products ensure that consumers intake healthy fats, which are not harmful to their body.
- Vegan desserts
Giving up on desserts and other tasty foods are one thing that gives people second thoughts about going vegan. But not anymore. As more people realize that desserts can be awesome without animal products, they have begun to find substitutes for eggs and dairy in their sweet treats. This year, we are guaranteed to see a revolution in the field of vegan desserts. You can expect vegan donuts glazed with maple syrup, vanilla icing or filled with delicious jam, and many more.
- Edible flowers
Edible flowers were used, in the past, only for pretentious dishes in Michelin-starred restaurants. But edible flowers have now become one of the most popular vegan food trends among food addicts. Vegan food companies have started to incorporate such flowers in dishes prepared, thanks to vegan foodies showcasing beautifully floral dishes on social media platforms like Instagram and Pinterest. The most popular choices of flowers in vegan food include pansies, carnations, and nasturtiums.