Page 31 - February 2022

Food & Beverage Sector came from allowances. And while Gen Z consumers said in a Piper
The ongoing effects of the pandemic will be clearly evident in Sandler report last spring that food is their top spending priority,
2022, and the first of a series of insights focused on the trends they pay much closer attention to the sustainability, nutritional
that will shape the food and beverage industry this year, entitled value and the ethics of the corporations who make what they eat.
‘6 Trends Shaping Food and Beverage Growth in 2022’ by Chris Meanwhile their insight also focused on the way that functional
Casey, Christopher Doering and Megan Poinski highlights these ingredients are finding new applications as people pay more
key trends. attention to their health and wellness because of the pandemic,
A pivotal trend appearing in the industry is that Gen Z is ready consumer packaged goods (CPG’s) are finding new ways to
to take over and people born between 1997 and 2012 are starting incorporate classic functional ingredients into more of their
to come into adulthood. Barb Stuckey, President and Chief products in 2022. Shoppers used to look to food and beverage
Innovation Officer at Mattson, said their entirely new perspective offerings for hydration or sustenance, but increasingly they are
on society and the environment is likely to cause big changes in turning to them as a way to improve their mood, gain a boost in
the food business. “I think the Gen Z consumer really will be energy, provide nutritional benefits or improve their gut health.
driving things from the bottom up,” Stuckey said. A 2018 study The shift is especially prevalent in younger Gen Z and millennial
found that Gen Zers have between $29bn and $143bn in buying consumers.
power - though much of the money represented in this study