Food and beverage trends expected to be big in 2022

Yahoo Finance Live's Karina Mitchell examines several of the rising food and drink trends developing in early 2022, including mushrooms, Beyond Meat's collaboration with KFC, and non-alcoholic beverages.

Video transcript

KARINA MITCHELL: Welcome back to Yahoo Finance. A year ago, trend forecasters predicted that 2021 would be a big year for international food and flavors as people got shots in the arm and started to travel around the world once again. Fast forward to the end of the year and not so much. But there are some big trends that are making a lot of buzz this year. So I decided to take a look at what's new in 2022 when it comes to food and beverage.

And one of the big trends is mushrooms. And I'm not talking about the type you smoke, although those may also be becoming more popular. But the fungi have actually landed on many trend prediction lists this year, following a year of a cauliflower craze, which supplanted a year of Brussels sprouts enjoying their time in the spotlight, still on many menus featured that way.

The number of small urban farms that is expected to flourish and mushrooms will be a key crop, A, because they're easy to grow, and they also produce a high yield and take up very little space. And for added value, mushroom fibers will also start to be appreciated as a cheap compostable form for packaging. It also recently just made a very splashy debut at the Consumer Electric Show in Las Vegas as part of Mercedes, an electric concept vehicle, which has 620 miles of range. The futuristic car boasts seats made from sustainable materials, including mushroom fibers.

Another trend, meat from animal cells grown in labs is on the way to winning federal approval as soon as the end of this year. And chicken will be one of the first products that become available. But plant-based chicken is giving it a run for its money as it continues to push into the mainstream, recently arriving in grocery stores across the country.

And starting today, KFC, the chicken guru, will add Beyond Meat's plant-based chicken to its menus for a limited time. The launch comes after years of testing from the Yum Brands chain and Beyond Meat to create a meat substitute that mimics the taste and texture of a faux chicken worthy of being on a KFC menu. And while the chicken may or may not be fake, the race is very real to determine which substitute will dominate the market.

And on the beverage front, while the pandemic and work from home orders made many of us reach for an extra glass of wine during happy hour at home, there has been a shift towards non-alcoholic beverages and a curious sober movement. No better time to do it than right now during dry January. And more brands than ever before jumping on the wagon, rather than falling off it. The Bacardi Cocktail Trends Report for 2022 found that 58% of global consumers are drinking more non-alcoholic and low alcoholic beverage cocktails than a year ago. 47% like a low alcohol content, while 31% prefer the non-alcoholic beverages.

And in fact, a report from Diageo, the parent of brands like Guinness, Johnnie Walker, and Smirnoff, released a report on the future of no and low-alcohol beverage and found that trends include the use of mixers from foraged flora and fauna. So think everything from artichokes to peas elevating the mocktail experience.

And many hard spirit brands are also infatuated. Cult favorite Vermont whiskey brand Whistle Pig has added a new limited edition bottle to its lineup, the Piggyback Devil's Slide Rye is the world's first aged non-alcoholic whiskey. It's the brand's first foray into the non-alcoholic spirits space and says all proceeds will be donated to the US Bartenders Guild. That's an organization that's been channeling donations for the restaurant industry hit hard during the start of COVID-19. So they have become very popular, Alexis.