Six in 10 consumers say they are cooking more at home—the single biggest change in behavior and one that sounds bullish for sauce, dressing, condiment, and spread makers.
COVID-19 has dimmed the prospects for specialty chocolate retail stores as the pandemic pushes consumers to grocery stores and online distribution channels
Want to talk candy trends? It’s not unusual to talk about new offerings combining both sweet and sour flavors. Then again, sweet and sour also describes life itself the candy industry.
Years of tepid sales quickly reversed with a COVID-19 pandemic that forced consumers into new work-at-home and eat-at-home routines. This certainly helped boost packaged breakfast food sales.
Bakery foods, especially baking ingredients, were one of the first categories to experience COVID-19-induced consumption gains in 2020. Last spring brought shelter-in-place orders and they unleashed a once-in-a-lifetime stampede for home baking supplies.
This snack attack activity drove new product launches in meat snacks, snack mixes, and fruit-based snacks. Each enjoyed double-digit growth rates with meat snacks at the top of the heap, expanding at a 20.6% CAGR from 2014 to 2018.
Launches grew at a compound annual growth rate (CAGR) of less than 1% from 2014 to 2018, per the Innova Market Insights database. Unfortunately, last year's tally will not advance the cause.
Yet plenty was happening if you knew where to look.
According to a 2019 Innova Consumer Survey, 63% of global consumers are increasingly trying to incorporate plant ingredients in the diet. Not surprisingly, sauce, dressing and spread manufacturers have been finding creative ways to address the trend as well.