Articles Tagged with ''consumer trends''

Over the last year, cost and value for money have become more important to more than half of food and beverage consumers worldwide. Today’s shoppers are increasingly exploring money-saving strategies, such as choosing lower cost items and cooking from scratch.

Spending on groceries and away-from-home food is up. Inflation plays a role here but spending choices indicate consumers are returning to restaurants and buying freshly prepared foods.

Even well funded players are suffering. Planterra Foods who launched the OZO brand a few years ago just announced it is being shut down by its parent company Brazilian-based JBS. Maple Leaf Foods, who owns Lightlife and Field Roast plant-based brands, is reallocating resources back to conventional meat amid declining sales.

The biggest challenges for developers and manufacturers of organic products are sourcing certified organic ingredients and knowing what secondary ingredients may be permitted. The organic regulations clearly define the practices and ingredients that are allowed. 

The global COVID-19 pandemic had a marked impact on consumers’ attitudes toward health. COVID took a heavy toll on people in poor health and consumers looked for quick ways to boost their health as a defense against the disease.

In a fall from last month, 46% of shoppers are feeling uncomfortable with their finances while 64% still report looking for sales, deals or coupons. Fifty-four percent are cutting back on non-essentials and 63% are cutting back on areas besides groceries, such as clothing and entertainment. Customers are still making changes to avoid price increases.

For the past few years, the Innova Market Insights list of Top 10 Trends has included a plant-centric trend. This acknowledges the growing presence of plant-based foods and beverages, as well as alternatives to traditional animal-based products. 

The nearly $1.5 trillion at- and away-from-home food market is forecast to grow around 8% in 2022, with at-home food (8.7% sales growth versus a year ago) outpacing away-from-home (6% versus a year ago), according to IRI’s and NPD’s inaugural joint research.

According to NPD, lower-income households under $75K eat 89% of their meals and snacks at home. These households eat more frozen foods, like frozen pot pies or breakfast sandwiches, and shelf-stable foods, like canned pasta or ramen noodles, than on average.