What if FoodTech Were a Feature, not a Bug?
I have studied the FoodTech Food space, including consumer attitudes and behaviors, since I started working on plant-based meat alternative products in 2018. At that time, novelty and the desire for healthier protein choices were key drivers. Now, just six years later, recently gathered data included in Ladder 17's Concept to Consumption: Consumer Perceptions of FoodTech Foods Report, suggests that consumer perceptions and behaviors are evolving rapidly.
FoodTech Foods, such as “burgers that bleed,” vertical farm-grown produce, cultivated meat, and produce grown using CRISPR, have captured the attention of journalists and consumers alike. However, few products made with these emerging technologies have been able to both establish a strong following and sustain revenue growth. Now that the novelty has worn off for some, what is the way forward for FoodTech brands and their products?
For many who watch this space, talking about the emerging technology used to grow or make a new food has been perceived as all downside. However, data from our report, to be released on May 14th, shows that a new consumer mindset is emerging, for whom FoodTech is a feature, not a bug. The report will break down this consumer and what motivates them to seek out FoodTech Foods.
In addition to the emergence of this new type of consumer, who we've dubbed The FoodTech Foodie, clear product trial drivers can be identified. Additionally, consumers who are open to FoodTech Foods, FoodTech Acceptors, report that issues like addressing climate change and supporting mission-driven brands are important to them. They are also looking for more products in some specific, even surprising categories.
Finally, the report explores what factors, if any, will motivate those on the fence to try FoodTech Foods -- delivering products with meaningful functional benefits is important, of course, but there are other levers available to producers and brands. Interested in learning more? Sign up to be one of the first to receive Ladder 17's free Concept to Consumption: Consumer Perceptions of FoodTech Foods Report here.
