Food & Drink

From the latest openings to new ingredients, a deep-dive into the landscape of food and drink.

News 28.09.2023

Need to Know

Uncovering the brands shaping the beauty industry’s future, Tinder’s new exclusive subscription for serial daters and why NFTs are supposedly worthless.

What’s next for beauty?

Global – From holographic temporary hair dyes and clean hygiene systems for skincare to multi-sensorial experiences in perfumery, beauty industry players are combining science, care and entertainment to keep consumers on their toes.

‘As you’ll discover when you tap into our beauty sectors and reports, beauty isn’t just about light, colour and cleanliness this season, it’s also about multi-sensorial experiences,’ says Chris Sanderson, co-founder and chief creative officer at The Future Laboratory.

Watch Chris’s brief overview of the best innovators featured in our analysis of Longevity Lifestyles, Chameleon Cosmetics, Purified Beauty and Synaesthesia Scents.

Find out more

LS:N Global members can find our Beauty, Health and Wellness Futures report here. LS:N Global is the trends and consumer foresight platform that powers The Future Laboratory’s services, which include our highly regarded Strategy team who can help unpack the relevance of our Beauty, Health and Wellness Futures report specifically for your business. So get in touch with us now to find out how we can help you make a better, more resilient future happen.

South Korea welcomes a second vertical farm café

Sik Mul Sung. Design by Unseenbird. Photography by Yongjoon Choi, South Korea
Sik Mul Sung. Design by Unseenbird. Photography by Yongjoon Choi, South Korea
Sik Mul Sung. Design by Unseenbird, photography by Yongjoon Choi, South Korea
Sik Mul Sung. Design by Unseenbird, photography by Yongjoon Choi, South Korea

South Korea – In 2022, Sik Mul Sung introduced a new hospitality format with its Seoul-based vertical farm café. Following the success of its initial location, the concept is back with a second branch.

Sik Mul Sung is the brainchild of agritech start-up N.Thing and architecture practice Unseenbird. The concept allows customers to witness the processes involved in operating a vertical farm, from seeing the vegetables being grown without soil or sunlight to cooking and eating, all in one place. The new branch is located in a large shopping centre in the suburban town of Incheon sure to introduce many visitors to the innovative farming system. Inside, diners can enjoy salads and ice cream while contemplating the glass-encased cultivation room where ingredients are grown, or shop for fresh vegetables, plant kits, seeds and utensils.

Combining regenerative practices with convenience and eatertainment, Sik Mul Sung has found a recipe for success.The concept’s expansion suggests there is room to explore commercial opportunities of new urban farming.

Strategic opportunity

Vertical farming concepts are gaining traction among urban consumers. For businesses, this is an opportunity to meet this demand with eating experiences that are equally awe-inducing and easily accessible

Tinder introduces £410 monthly subscription plan for serial daters

Global – Unveiled in September 2023, Tinder Select is the platform's new high-end subscription plan offered to its most active users for £410 ($499, €475) per month.

This exclusive tier offers premium features like VIP search, matching and conversation, although specific details have yet to be disclosed. The company stated that this offering is currently accessible to fewer than 1% of Tinder’s most active users.

While Tinder Select represents a significant price increase compared to its other subscription options, which start at £20.60 ($24.99, €23.75) per month, the dating app aims to cater for highly engaged and active users seeking more effective ways to connect. Tinder’s current top 10% of users by time on the app contributed an average of 53% of total time spent on the platform this year, according to research firm Apptopia.

Match Group, Tinder’s parent company, has previously ventured into high-priced subscription models with the acquisition of The League, a dating app with a weekly fee of up to £823 ($1,000, €950). Although Match Group expects Tinder Select to attract a limited number of new subscribers, it anticipates a considerable impact on revenue.

As explored in Video Dating Futures, dating apps must evolve to remain relevant in an oversaturated market. For Tinder, attracting new users remains a challenge, and it will get more complex as even Roblox aims to become a platform for dating.

Tinder, US

Strategic opportunity

Explore the potential for premium subscription models within your own industry or platform. Identify high-value offerings catering for your most engaged users – increasing revenue and customer loyalty in the process

Stat: The majority of NFT collections no longer have any value

Mintus, UK Mintus, UK

Global – A September 2023 report by cryptocurrency platform dappGambl has found that the majority of non-fungible token (NFT) collections are essentially worthless.

The study, Dead NFTs: The Evolving Landscape of the NFT Market, analysed data from NFT Scan and CoinMarketCap and found that out of 73,257 identified NFT collections, 69,795 (95%) had a market cap of 0 Ether (ETH). The research estimates that some 23m investors own these valueless token collections.

dappGambl’s report also revealed that only 21% of the identified NFT collections had 100%+ ownership, meaning 79% have remained unsold, highlighting the issue of surplus supply versus dwindling demand for NFTs.

That said, the report concludes that NFTs are far from dead and experts predict that NFTs will soon undergo a transformation from collectibles to assets with tangible utility as the market matures. The tokens might find application in elevating brand loyalty, for instance.

Strategic opportunity

Take advantage of the negative press surrounding NFTs and prescribe new value to the tokens by considering innovative ways they can help create a life-long presence in your customers’ lives – beyond being an obsolete collectible

Six Innovators Revolutionising the Ice Cream Aisle

Big Ideas

Six Innovators Revolutionising the Ice Cream Aisle

Channelling lactose intolerance and conscious consumers’ demands, meet the innovators crafting dairy-free and unconventional ice cream.
Food : Indulgence : Sustainability
Kids’ Snack Market

Markets

Kids’ Snack Market

Functional ingredients, re-imagined childhood classics and gastro gaming innovations are shaping the future of the kids’ snack aisle.
Youth : Food&Drink : Indulgence
Hype Bakes

Micro Trends

Hype Bakes

From exclusive drops to A-lister endorsements and cult social media followings, bakeries have entered their hype bake era.
Food : Fashion : Hypebakes
SXSW Sydney 2023: AI, Quantum and Future Food

Big Ideas

SXSW Sydney 2023: AI, Quantum and Future Food

The seismic impact of generative AI, Australia’s ascendance as a world leader in quantum computing, and the future of global food needs took centre...
Events : Technology : Food
Gen Alpha and Alt Foods

Markets

Gen Alpha and Alt Foods

As Generation Alpha begin to flex their spending power, the alternative food market must adapt to the next generation of planet- and health-conscio...
Food & Drink : Youth : Health & Wellness
Future Food Tech 2023: Elevating Plant-Based Dining

Big Ideas

Future Food Tech 2023: Elevating Plant-Based Dining

The Future Food Tech event, held in London on 28–29 September, explored how to re-invent indulgence, how plant-based foods should be a category in ...
Food : Protein : Technology
Cultivated Meat Market

Markets

Cultivated Meat Market

Cultivated meat innovators claim they have found a path to sustainable protein production that could attract meat-lovers rather than vegans.
Food Futures : Meat : Lab-grown Meat
Food Delivery Futures

Big Ideas

Food Delivery Futures

Using AI, hyper-personalisation and robots, the food delivery sector is creating a seamless connection between restaurants, supermarkets and our ki...
Technology : Food & Drink : Society
Dining Deluxe

Viewpoints

Dining Deluxe

LS:N Global speaks exclusively to creative agency Construct about crafting experience design for a new era of luxury dining.
Luxury : Dining Experience : Hotel Experience
The Future of Drinks: Imbibe Live 2023

Big Ideas

The Future of Drinks: Imbibe Live 2023

Sustainability, health and the quest for a perfect summer spritz were the defining themes at 2023’s Imbibe Live, the UK’s leading drinks trade show.
Drink : Hospitality : Alcoholic Beverages
Gastro Gaming Market

Markets

Gastro Gaming Market

Joining forces with video game publishers, food and drink brands are turning to gaming to offer tastes, skins and experiences that are transcending...
Food & Drink : Gaming : Food
Brewing Coffee Futures

Markets

Brewing Coffee Futures

The wellbeing and carbon footprint concerns of Conscious Consumers are pushing innovative coffee brands to shift their focus on quality, sustainabi...
Coffee : Coffee Plus : Coffee Shop
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