You have a great tasting food you want to commercialize. What claims can you make? One of the first things on your to-do list should be to define a few basics: Who will buy your food? What’s important to them when it comes to your food category?
Last December saw Chicago retail data tracker IRI release its “November 2022 Retail Food and Beverage Price Check” report. Published on December 8, it noted that food inflation finally moderated after August and hit its slowest rate last October, at +0.3%.
Manufacturers and brands work to harness technology, reduce waste and introduce more planet-friendly packaging to deliver eco-friendly alternatives
February 23, 2023
Key industry players are focusing on reducing food waste by about 50% through the adoption of several methods to extend the shelf-life of food. Top companies are paying strict regulations on food waste. FDA supports the food industry regarding food safety, packaged foods, and clean labeling. In the coming period, food manufacturers are likely to develop smart technology that may reduce the wastage of food items.
Accounting for 20.67% of US consumers and nearly one-third of the global population, Gen Z’s economic power is the fastest growing across all generations
February 15, 2023
Gen Z is the most racially and ethnically diverse generation, too. According to Pew Research, Gen Z represents the leading edge of the country’s changing racial and ethnic makeup – with 52% non-Hispanic White, 25% Hispanic, 14% Black, 6% Asian and 5% a different race or two or more races. The US Census Bureau projects that by 2026, the majority of this generation will be non-White.
Approximately 25 million consumers eat plant-based foods and beverages "occasionally" or "regularly," as part of a meal or as an ingredient
February 3, 2023
When it comes to eating plant-based foods, consumers are definite in which types of plant-based beverages and food they want to eat at home and which they eat from a restaurant or foodservice outlet.
New report identifies key challenges in the year ahead as well as how companies pursuing profitable growth are differentiating themselves for continued success
January 25, 2023
The consumer products sector is entering 2023 with both optimism regarding financial performance and concern over ongoing disruption, according to Deloitte’s 2023 Consumer Products Industry Outlook.
Cargill survey shows consumers crave healthier indulgence in bakery aisle
January 24, 2023
In time for National Baking Month, new research from Cargill finds consumers want the best of both worlds – indulgence and health – and they’re willing to pay more for baked goods that deliver on both attributes.
Combined worldwide spending on independently created content, items purchased via peer-to-peer commerce, and ridesharing services will grow to a total of $294 billion by 2026
January 11, 2023
A staggering 48% of all households surveyed reported engaging in at least one source of tech-enabled income generation in 2022, led by content creation, peer-to-peer commerce, and rideshare driving. This trend is driven by Gen Z- and Millennial-led households, where 60% of respondents said they derived such income in the last year.
Brands need to be flexible in action and open in spirit to connect with consumers, while also taking full advantage of rapidly emerging technological opportunities
December 26, 2022
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.
IRI report explores private brand recovery amid inflation and economic uncertainty
December 7, 2022
“While consumers have historically navigated to store brand products to save money during challenging economic times, we’re seeing that only modest gains have been made in private brand’s share of the consumer wallet this year,” said Mary Ellen Lynch, principal, center store solutions, IRI.