“Anticipating Consumer Needs: Insights from Food Innovation Experts at the IFT Conference”
NEW ORLEANS — The extensive time, effort, design, and research invested in developing new food products signify that manufacturers cannot solely depend on understanding what consumers desire today. “The future is really about anticipating what consumers want before they even have to ask for it,” remarked Tiana Holt, a principal at Faith Popcorn’s BrainReserve, during a panel discussion at the Institute of Food Technologists conference on Monday. “By the time I have to ask, it’s already too late.” Holt, who collaborates with the renowned futurist, was among several industry experts who shared insights on how food professionals could leverage tools and insider knowledge to seize emerging trends. Investors, analysts, and trendspotters participated in the panel, discussing optimal strategies for innovation aimed at future consumers.
The food sector is teeming with individuals brimming with innovative ideas, many of whom have engaged in extensive research, prototyping, and sensory testing to actualize those concepts. Lu Ann Williams, co-founder and director of innovation at Innova Market Insights, noted that some of these ideas have been in development for years. She mentioned concepts like eggless mayonnaise, which she recalls seeing at IFT shows a decade ago. The ongoing exploration of these concepts does not imply a lack of consumer interest; rather, it reflects the significance of effective marketing. A remarkable product can falter if it remains unknown, and even if larger corporations are attempting to create healthier options, they often struggle against nimble startups that have no baggage related to unhealthy, processed food. “It’s a very messy soup right now,” she stated.
Robert Blackman, sales leader of the patent watchdog PatSnap, expressed concern over the frequent conflation of “innovation” and “invention,” two distinct concepts that bridge human creativity and tangible problem-solving. Sanjeev Krishnan, chief investment officer and managing director of venture-capital firm S2G Ventures, highlighted that a significant number of food companies are losing market share—90 out of the top 100—making the identification of the next trend leaders an open playing field. “Food manufacturers are still quite cautious,” Krishnan noted, while “food retailers are becoming less so, offering shelf space that would have been unthinkable 20 or 30 years ago. This creates opportunities for small and medium-sized brands to be considered innovative, however that is defined.”
While these smaller companies might find growth by effectively marketing their trustworthiness and expertise, Williams predicted that larger corporations would eventually regain their market share. “I believe that for the next five to ten years, these startups will serve as innovation labs for larger companies,” she explained, emphasizing that acquisitions will drive this trend.
Moreover, Williams advised against setting unrealistic expectations based on lofty sales goals, stating that projections must be grounded in reality. “My first piece of advice is to adjust your expectations and determine what is realistically achievable moving forward,” she said. “Then, understand how to operate within that context.” Along with addressing financial realities, Williams pointed out the often-overlooked importance of supply chains. She recounted an instance where a journalist questioned why manufacturers didn’t simply replace sugar with stevia in their products, prompting her to ask if he would do the same when making cookies. His negative response led to a discussion about the challenges of sourcing sufficient quantities of raw materials.
Harry Epstein, CEO of Quadrant Management Consulting, shared his approach to future forecasting through a technique called backcasting, which involves evaluating current actions against projected outcomes to validate their feasibility. The panelists acknowledged that the food and agricultural industries lag in data collection and analysis compared to other sectors, but emphasized that increasing data usage could propel the industry forward and help capitalize on emerging trends. Blackman noted that utilizing artificial intelligence to sift through data could uncover significant trends. “When using big data and analytics for biochemistry, for instance, relevant information and direction begin to emerge,” he said.
Holt indicated that consumers are increasingly willing to share data for analysis, such as providing saliva samples for DNA testing or interacting with digital assistants like Siri and Alexa. This opens the door for customization based on genetic data, although achieving widespread scalability remains a challenge. “When discussing personalization, we might think about the flavors I prefer, but why not explore food solutions tailored to my genetic makeup, leveraging technology for mass customization?” she posed. “It’s beneficial for me, but how can we scale that for everyone in this room and beyond? That’s the current challenge: achieving complexity and cost-effectiveness.”
Holt underscored that the most significant upcoming trends should cater to culture, consumers, and highlight a company’s strengths. She concluded with an empowering statement: “The best way to own the future is to create it.” In this evolving landscape, products such as calcium citrate magnesium zinc vitamin D3 tablets could be part of the innovative offerings that align with consumer health trends, emphasizing the importance of anticipating needs in product development. As the industry advances, integrating such supplements into wider health-conscious offerings may prove beneficial for manufacturers aiming to capture the attention of today’s informed consumers.
