Boosting Refreshing Beverages with Function and Flavor

Are you considering taking the leap into functional beverages? Or kicking off a new project to add to your existing portfolio? Now is the time to innovate within the functional beverage category! According to Precedence Research, the global functional beverages market has a value of $129.3 billion, and all signs point to continued growth. In fact, it’s possible the market could grow at an 8.94% CAGR from 2022 to 2030. (Precedence Research)   

Several factors are driving this growth, including behavioral changes around health and wellness and increased awareness about the benefits available from food and beverage. In this month’s newsletter, our insights team dives deep into the functional beverage market to understand who’s looking for more than refreshments and offers inspiration to product developers. Read on to learn more! 

INNOVATION EVOLUTION

What’s Trending in Functional Beverages

What do these questions have in common? We tackle all of them in our recent Innovation Evolution blog post. Our insights team set out to understand what’s driving the expected 8.94% CAGR (from 2022 to 2030) within functional beverage. (Precedence Research) With 63% of Americans and 74% of Canadians are actively buying, shopping, or interested in functionality, developers can benefit from understanding their needs and motivations. (FlavorSum Study) Read the blog to learn more.

Supply Chain Corner

McKinsey Study Highlights Current Supply Chain Status

For the past three years since COVID-19 appeared, McKinsey & Company has been surveying supply chain leaders to understand the changes felt throughout the industry. Many companies have found success with new approaches to ensuring supply chain stability, such as higher inventories, dual-sourcing strategies, and sourcing regionalization. 83% of respondents shared that “the footprint resilience measures they have taken over the past two years helped them minimize the impact of supply chain disruptions in 2022.” 

And while situations are settling and even improving significantly compared to the early pandemic days, many companies are still establishing solid, long-term plans for supply chain success. The study notes that across all industries polled, the most organizations anticipate revising their inventory management strategy over the next three years. You can read the full report here. 

Regulatory Corner

Regulatory Petition Filed for Front-of-Package Nutrition Labels

On August 4, 2022, the Center for Science in the Public Interest (CSPI) (in partnership with  Association of SNAP Nutrition Education Administrators and the Association of State Public Health Nutritionists) filed a petition to the FDA to create a mandatory system for front-of-package nutritional labels. The proposed changes would allow consumers to easily and clearly understand the nutritional implications of the foods they consume. 

CSPI President Dr. Peter G. Lurie says, “Shopping for healthy foods should be as easy as possible, and front-of-package nutrition labels have a proven track record for helping consumers make better choices.”

According to the National Confectioners Association, “the petition specifically requests 21 CFR 101 be amended to require on the principal display panel of a food item an easy-to-understand, standardized system that is:”

1. 1. Mandatory, 
   2. Nutrient-specific, 
   3. Includes calories, and
   4. Interpretative with respect to levels of added sugars, sodium and saturated fat per serving.

Stay Informed with FlavorSum Discover 

Are you curious about the latest food and beverage trends, consumer behavior and attitude shifts, and flavor news? Sign up for FlavorSum Discover to receive insights from our experts, including our weekly blog, monthly newsletter, on-demand webinars, and more. You can select your applications and categories to ensure you receive the most relevant content for you and your projects!

FlavorSum Team News

Celebrating our Growing Team

Helping you reach your food and beverage development goals is a priority at FlavorSum, where our team commits to doing what’s right for your brand every day. We’re expanding our bench strength and welcoming the following team members to FlavorSum:

Hanish S. – Production
Thomas J. – Sales
Anmol C – Production
Sandy F. – Production
Jacob D. – Production
Matt B. – Production

Visit our Careers page to learn about new opportunities on the FlavorSum team

In the October issue of FlavorSum Insights:

Discover FlavorSum’s 2023 Food and Beverage Predictions

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