Check out the March 2022 issue of Prepared Foods, featuring our New Products Annual, which looks at innovative food and beverage products across all categories.
Market in Motion: Food & Beverage Innovation Worth Watching
March 29, 2022
Entering a third year of the global COVID pandemic, shoppers and consumer packaged goods companies face issues of rising inflationary prices, supply chain disruptions and shortages of key ingredients or other materials.
Just as there are so many ingredients combined in a good sauce, there are many factors that combine to impact new product development in sauces, dressings and spreads. And this is true—seemingly for better and for worse.
Huge growth in plant-based dairy analogs, and flat liquid milk sales certainly cannot be denied, but according to research by multiple organizations, dairy foods are enjoying a steady growth
For several years, reports of a decline in consumption of dairy milk has led some to erroneously believe the dairy industry is slowing down, or even moribund. Huge growth in plant-based dairy analogs, and flat liquid milk sales certainly cannot be denied, but according to research by multiple organizations, dairy foods are enjoying a steady growth. A new report from Innova Market Insights revealed global sales for yogurt (both dairy and alternative) is on target to pass the $100 billion mark this year.
According to Innova Market Insights’ 2021 Lifestyles and Attitudes Survey, 37% of Americans said they were eating breakfast “more in home” versus just 6% who said they were eating breakfast “more out of home.”
To keep up with ever-changing global health protocols and guidelines, consumers have incorporated more healthy habits that might now become true behavior patterns
In 2021, brands paid attention to the movement towards healthier habits. This translated to fortification and adding ingredients; or conversely, removing some maligned ingredients.
Overall competition for meal solutions is increasing as the restaurant industry rebounds. Industry market and consumer insights tracker NPD Group, Chicago, says the US restaurant industry ended 2021 better than the year began. Moreover, NPD predicts industry operators could recover 98% of pre-pandemic visits by the end of 2022.
For manufacturers, it’s good that one-third of American consumers say they have snacked more often during the past 12 months according to Innova Market Insights’ 2021 Lifestyle & Attitudes Survey. That’s in contrast to the 24% who said they snacked less.
One-fifth of US consumers described themselves over the past year as “highly stressed on a daily basis,” per Innova’s 2021 Health & Nutrition Survey. The good news is that stress management is easier thanks to an array of new bakery products in 2021.
Want to listen to industry news and views on the way to work? Catch a quick video on a lunchbreak? Prepared Foods now goes anywhere—and everywhere—to cover critical topics.