Lux Research recently held a webinar, "Top Technology Innovations Driving Growth in the Food and Beverage Industry", that explored the informatics, ingredients, and digital innovation enablers that allow companies to capture value within a transforming food system. Lux Research Director Josh Haslun, Ph.D., and Lux Analyst Harini Venkataraman outlined three technology areas that will drive growth in the food and beverage industry: alternatives, functional ingredients, and channels. According to our experts, capturing opportunities through innovation among your competitors as well as the flood of well-funded, purpose-built, and often more agile developers is exceptionally challenging and requires the implementation of a range of strategies.
The food and beverage industry brings an ever-increasing diversity of products and ingredients to the market from a growing range of sources. Consumers continuously select from the myriad solutions with an increasingly discerning eye for quality, outcomes, and cost.
During the webinar, Josh Haslun and Harini Venkataraman discussed leading technology areas in this space as well different case studies. Attendees learned that the future of alternative proteins will be a diverse mix and to capitalize on the near-term opportunities without missing out on promising long-term options. Additionally, attendees were encouraged to engage with developers that have the ability to expedite ingredient discovery with proven health benefits. In summary, CPG companies should explore opportunities to engage with start-ups that collect and analyze multiple consumer data streams, offering sales channels for personalization.
Let Lux Research Director Josh Haslun, Ph.D., and Analyst Harini Venkataraman help show you how to capitalize on these opportunities and avoid overstretching - register today to watch the on-demand webinar for "Top Technology Innovations Driving Growth in the Food and Beverage Industry"!
KEY TAKEAWAYS FROM THE WEBINAR:
- Diversification drives food system competition.
- Expect a variety of solutions that will require timing to succeed.
- The interplay among innovation strategies is critical.