Top 10 Street Food Influences on New Products and Menu Innovation

Top 10 Street Food Influences on New Products and Menu Innovation

Summary

This report is part of a series on key trends and issues which are currently affecting the consumer landscape in consumer goods, foodservice, and packaging. This report explains the challenges and opportunities facing cultured meats path to market and commercialization

Street food has historically been a convenient, nutritious food for busy workers, but in the 21st century has become a much more novel, high-quality format. These aspects have allowed street food to influence health, affordability, convenience, and sensory trends in foodservice channels and packaged food in retail.

Scope

• Street food is a diverse concept which meets an array of consumer demands, meaning there are lessons to be learned in every sector.
• Street food speaks to experimental, and indulgent occasions as well as the everyday meal. This leaves companies with a number of street food trends to leverage such as highly efficient local networks and more formulaic considerations such as nutrient-rich, or ergonomically designed, foods.
• Brands should look to carefully select street food trends that best suit the strategic areas of their businesses.
• Formulation in street food is an obvious area which brands can take inspiration from to offer interesting and better value-for-money products which stand out from competitors. However, the marketing and operational considerations such as choosing authentic, local branding versus a novel fusion concept are important to align correctly with customers.

Reasons to Buy

• Understand the cross-sector opportunities for brands in taking inspiration from street food features and trends.
• Gain insight into how competitors are responding to this trend.
• Access valuable strategic take-outs to help direct future decision-making and inform new product and service development.