New technologies transforming consumer industry

The rapid emergence of game-changing technologies such as textured vegetable proteins (TVP), recombinant steviol glycosides (RSG), and generative artificial intelligence (GenAI) is changing the consumer industry. These innovations have the potential to reshape business models, strategic thinking, and investment decisions, driving sustainability, health, and intelligence, according to data and analytics company GlobalData.

GlobalData’s FutureTech Series report, “Future of Consumer: Sustainable, Healthy, and Smart,” says that by closely understanding the disruptive potential of the latest technologies and the underlying megatrends, organisations can directly shape decisions on patenting, collaboration, acquisition, and investments, driving sustainable, healthy, and intelligent consumer solutions.

“We stand on the threshold of embracing the future of consumerism, ignited by groundbreaking innovations in sustainable food and wellness. TVP, a popular meat substitute, and RSG, created through the genetic modification of microorganisms, plants, or plant cells, lead the way, pushing us to the next levels in global sustainability and personal well-being. Moreover, GenAI takes the helm in personalisation, crafting tailor-made solutions that amplify the benefits of these innovations,” said Kiran Raj, Practice Head of Disruptive Tech at GlobalData.

The company said that TVP rose to unprecedented levels in the consumer industry with startups leading the charge. For example, Air Protein, with its air-based nutritious meat substitutes, and Terramino’s protein alternatives that mimic flavor and texture of meat and seafood using the power of fungi.

In ingredients, RSG, the potent sweeteners derived from the stevia plant propels health and wellness innovations to new heights, with Nestlé leading the pack, fully embracing RSG as the heart of their innovation endeavors.

According to GlobalData the game-changer is GenAI (Generative AI) a revolutionary AI subset, known for generating data akin to its training set. It has diverse applications that range from laser-targeted advertising and cutting-edge recipe creation to stringent food safety checks and personalized food delivery. GlobalData’s Patent Analytics database highlights 4.5X growth in GenAI patent filings over the last three years led by the US, followed by China and Europe.

“Technological advancements like these shape the future of the consumer, cultivating a horizon that is sustainable, healthy, and smart. As we continue to blend and harness the power of these technologies, GlobalData envisions a future where health and wellness are within reach for all, personalised to perfection, and sustainable beyond imagination,” Raj said.