Our recently published F&B Trends Report 2024 unveils how traditional F&B venues are being reimagined to meet the changing demands of modern consumers, with a special focus on inclusivity and social experiences.
Among other trends, this shift places an emphasis on interactive spaces over traditional bars and restaurants, along with a growing demand for menus and gathering places that offer something more than just good food.
Click below to download the full report or read on for a summary of the key takeouts!
F&B REDEFINES URBAN DEVELOPMENT
In the evolution of retail and mixed-use urban development, there’s been a profound shift from traditional, utilitarian retail-focused spaces that once dominated to more varied and holistic environments.
Even the most iconic department stores and shopping centres have been forced to rethink the way they entice customers through their doors, exploring ways to become destinations that deliver an elevated level of experience.
“The importance of food and drink venues in ensuring long-term viability of RDE developments cannot be overstated.” - Nichola Beskine-Taylor, Partner at TGP International
Giga projects, monumental urban initiatives, prioritise F&B in shaping community identity and fostering inclusivity. And F&B master planning is even more central to creating sustainable, culturally rich neighbourhoods, especially in precinct-driven urban concepts.
THE RISE OF SOCIAL DINING EXPERIENCES IN F&B
This evolution of retail, dining, and entertainment has also spurred the emergence of alternative venues tailored to changing consumer tastes, particularly among Millennials, Gen Z, and Gen A.
Laid-back dining environments like food halls and coffee shops are increasingly popular, as well as dining experiences that emphasise interactivity, socialising, and nostalgic elements, with food and beverage at the forefront.
A notable trend is "competitive socialising," seen in venues combining traditional entertainment with dining. In the UK, 39% have visited such venues, with food quality being a significant factor for 42% of guests.
DEMAND FOR SUSTAINABILITY AND INCLUSIVITY GROWS
Consumer demand for sustainability and inclusivity is surging amid escalating climate change concerns. Brands prioritising environmental, social, and governance (ESG) practices are gaining favour while consumers seek locally sourced foods and sustainable packaging.
Public spaces must also adapt to extreme weather. Collaboration between the hospitality sector, developers, and asset owners is crucial to creating climate-resilient spaces that serve communities year-round.
Collaboration between the hospitality sector, developers, and asset owners is crucial to creating climate-resilient spaces that serve communities year-round.
Hospitality, in particular, is emerging as a central component of new communities and developments worldwide, playing a crucial role in fostering inclusive growth and opportunity within communities. Prioritising inclusivity not only broadens opportunities for marginalised individuals but also ensures that the benefits of sustainability are accessible to everyone.
TRADITIONAL F&B OFFERINGS ARE REIMAGINED
Pubs and bars, for example, now offer diverse, high-quality options beyond traditional fare, catering to evolving tastes in a welcoming atmosphere.
Factors like rising costs and shifting social habits contribute to changing alcohol consumption patterns, driving demand for inclusive spaces offering something for everyone.
The rise of zero-alcohol cocktails adds fun and inclusivity to drinking culture, with vibrant flavours and Instagram-worthy presentation. Late-night coffee and dessert concepts are also growing, influenced by cultures where alcohol consumption is less common.
F&B PLAYS MAJOR ROLE IN COMMUNITY BUILDING
Developers must recognise the pivotal role of food and beverage (F&B) in shaping the future of both new developments and the revitalisation of existing assets, whether commercial or residential-focused.
As precinct-driven neighbourhoods with short travel times become the norm, F&B emerges as the lifeblood of communities, fostering social connections, cultural exchanges, and workspace relief.
F&B Masterplanning is especially important in entirely new developments such as new giga projects and RDE developments, where the project’s success as an investment has far-reaching importance—driving much needed footfall, repeat visitation and contributing to entire communities.
– Sean Paul, Strategy & Masterplanning Director at TGP International
Clustered F&B venues create gathering points that serve not only as entertainment hubs but also as platforms for community building and support for local businesses, providing residents with a much-needed breather from their daily routines.
STRATEGIC DESIGN UNDERPINS F&B CONCEPT SUCCESS
The leading design and concept trends of today are largely inspired by broader changes in society, including attitudes towards public spaces and food. The role that F&B now plays as a primary form of entertainment coupled with people’s desire for venues to offer “more” is apparent. F&B has become, in a lot of cases, destination.
F&B establishments must now be curated experiences with consistency throughout the journey. And this relies on a design and concept principles that are rooted in a realistic sense of audience. Understanding the current pulse of local communities and groups, and carrying this knowledge through design, is paramount for F&B brands aiming to stay relevant.
INCLUSIVITY PERMEATES F&B DESIGN
The shift from exclusive or private spaces to venues that are open to everyone reflects a cultural transformation towards inclusivity. As inclusivity becomes a standard rather than an exception, the design industry is witnessing a transformative shift towards spaces that can accommodate everyone.
Going hand-in-hand with this is the growth of F&B concepts that emphasise diversity in food offering and social dining, such as Food Halls that bring together both affordable and fine-dining quality food offerings under one roof, allowing interplay between several chefs, concepts and cuisines.
Inclusive design goes beyond physical accessibility, encompassing everything from comfort, wellness, social integration, and cultural appropriateness.
– Florentina Tsakiri, Senior Interior Design at TGP International
Equally, sustainable interior design has become a holistic and eco-conscious approach to creating interior spaces that minimise negative environmental impact while prioritising the health and well-being of the people who use them.
READ OUR F&B TRENDS REPORT 2024
For more on these topics, real life case studies of projects that best exemplify the way the industry is moving, and insights from our team of specialists, download the full report.
