Globally, the ways of working and living has largely changed and new ways have been adopted with a much broader sense. Changing work place trend and growing preference for ready to eat food has increased the demand in the global food and beverages retail market. Urbanization and globalization both has also played a significant role in increasing the demand for packaged food products. Nowadays, people are getting busier with their tough schedule; there is lesser time to spend on preparing food. Moreover, changing lifestyle and high demand for convenience products has also grown thus, creating higher growth opportunity in this market.
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Manufacturers providing packaged food and beverages have also started offering different varieties of food products and at different range. Thus with the growing diversity in the food products, consumers get larger variety to select from. Moreover, they are encouraged to taste different types of products. Considering all the aforementioned factors, the demand in the global food and beverages retail market is expected to rise considerably in the next couple of years. However, fluctuating price of food products, challenges faced in the supply chain management, and strict regulations related to quality control are few problems that might hamper the growth in this market.
How blockchain-enabled technologies help in the growth of food and beverages market?
Consumers are the central part of any business and it is essential to keep them loyal and attracted for the products they used. It is very important that customer’s value security is more than just payments. Many a times, customer’s preference towards a particular product change depending upon their need and requirement. Moreover, they do not get full information about the ingredients and products they shift t something else, as consumer sentiments revolving around health and wellness. In these situations, blockchain-enabled technologies help in maintaining transparency while providing information about the products. It also helps in fast tracking of contamination sources and creating satisfactory circumstances for long-term consumer retention.
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