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Food and Beverages 2018-07-07

Millennials Causing a Major Influence on F&B Industry

52% of organic consumers represent millennials who consume more vegetables than their older counterparts.

By Contributor
Millennials Causing a Major Influence on F&B Industry

Millennials who account for the largest living generation have a strong inclination towards convenience and eat at restaurants more than any other generation. It is evident from the growing popularity of food blogs and food-related videos that they love food which is no longer just a basic need for survival but a source of enjoyment, pleasure, and fun. According to an analysis of food expenditure, eating out has increased from 25.9% in 1970 to a current record of around 43.5%

When food becomes fancy

“Millennials are constantly traveling, and are exposed to the new age technology and greatly influenced by the internet. They are also willing to experiment and undertake risk. It is this experience, exposure, and ability that is positively affecting the F&B industry,” shares Jesal Desai, founder of the famous cafe Selfieccino. This change and influence must be encouraged since millennials are the future of our country and if supported they can bring major changes and development to our country. Today's food-centric culture has led to the growth of food halls, food festivals and fancy food emporiums that offer fully enthralling and engrossing experiences. Young consumers are taking this trend forward as 71 percent of millennials are saying they love to attend events focused on food and 81 percent state that they enjoy exploring new cultures through food. Memorable and cherishable food experiences trigger today's dining decisions.

Despite eating out as a casual trend, millennials are actually some of the healthiest eaters of any generation. According to the Organic Trade Association, 52% of organic consumers represent millennials who consume more vegetables than their older counterparts. These folks concentrate more on what they put into their body and educate themselves on the benefits of natural and organic foods.

“Changes in food preferences is mainly due to the availability of options rather multiple options & easy reach out, delivery options, social media stories on changing food trends, and of course health and healthy lifestyle. I have seen a hard-core non-vegetarian turning Vegetarian and even Vegan due to (A) Health benefits (B) many options of Gourmet veg ingredients like black radish, seaweed, different types of mushrooms, purple pokchoy and choices of cuisine like the Mediterranean to Middle East And the Southeast Asian to Regional Indian. Moreover the decent Income bracket of today's Millennials encourages them not to shy away from changing their food preferences as compared to their elders,” says the renowned Chef Vikram Khatri of the Japanese restaurant Guppy by ai.

Future Prospect

Millennials aren’t just changing the food we are buying, they are also changing the methods of buying it. This is evident from the rise in grocery and meal delivery services such as Door to Door organics that brings good quality organic food brought straight from the farm. This helps to remain healthy even in the busiest schedules when we don’t have time to cook or even pick up something from the market.  “Times have changed. Millennials today have considerable exposure to international cuisines through traveling, eating out as well as through food-centric TV shows. They have knowledge of the advantages of healthy eating and incorporate the same in their lifestyle,” quotes Anjali Vohra, Co-founder of Little Cheflings adding that millennials now understand the nutritional value of seasonal fruits and vegetables as compared to non-seasonal produce stored in cold storage which is not fresh.

“Today’s youth knows that going on a diet is not healthy, rather eating right is. Restaurants who are transparent about the use of ingredients and product claims, and serve low fat, low carb etc. in their menu will remain in the good books of consumers and enjoy a regular patronage,” shares Dhiraj Jain, Managing Director of Mahagun India group.

So, we can say that the future of food is going to be determined by the millennials’ current preferences and desires, and it is going to be interesting to see how these companies will continue to cater the changing needs and come up with new, creative solutions.

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