Trend-setters attend Inaugural FaBA Executives Dinner

Mr Hartmann gave an enthralling account of how he and his co-founder Mark Livings capitalised on the “better-for-you wave” to build the no and low alcoholic drinks company, Lyre’s.

“The better-for-you wave started in dairy, then we saw it in plant-based meat and now it’s in alcoholic beverages.

“The next generation is at an interesting nexus – they are a very educated population with access to information on the phones in their pockets and now they know alcohol is no good for you.

“My generation saw pictures of lung cancer patients on cigarette packages – these days, people in the US and Europe are seeing calorie counts on menus,” he said.

The ability to reach and respond to the needs of more discerning consumers was echoed by Dr Achariya, who spoke about the opportunity for brands to win the “messy middle” on supermarket shelves.

“Ensure your product has a point of difference, expand into multiple channels including e-commerce and exports – be sure that you de-risk and ensure not all of your products are in one channel!”

Both speakers touched on the current cost of living crisis, including the impact on shopping behaviour, margins and purchasing trends.

Mr Hartmann said there was an opportunity to build quality brands.

“There is a real premium wave now. Understanding that people want to feel better about themselves – they are turning to obtainable luxuries and self-gratification.”

He said understanding current and future market trends was vital for the “right product, right time, right brand”.

“At Lyre’s we wanted to change the way the world drinks. It was ambitious, but you should always think big – even if you only get halfway there, you will have done well and it’s easier to find investors when you aim high.”

The speakers’ sentiments on market trends aligned to the Global Food and Beverage Trends Report, which was released at the Executives Dinner.