As we move our way through mid-April, people across the country are passing the one-month mark in terms of time spent in social distancing. Over that time period, consumer purchase behavior has followed a rather distinct pattern, with cleaning products, pantry items, paper products, and a few other categories seeing a major surge in sales. However, as the calendar moves forward, consumers are further settling into their routines and keeping non-essential purchases to a minimum.
Recent years have brought great change in the realm of food and beverage. People across the world are more keenly aware about the nutritional value of what they put in their bodies, and as a result, brands are developing products catered towards those needs.
It’s no secret that snacking is on the rise. Whether it’s due to dietary constraints or simply seeking a burst of afternoon energy, consumers across the globe are eschewing the standard three square meals for snacks. In fact, snacking is preferred over meals for 59% of adults worldwide, and that number jumps up to 70% when isolating Millennials.
Most marketers would agree that they’ve never faced as many challenges as they do today. Amazon, direct-to-consumer brands, and shifts in consumer behavior are making it more difficult for CPG brands to break through or retain market share. In fact, of the thousands of creative new product launches that occur each year, about 85% of them fail. Today, products are not just competing for space on the shelf; they’re competing for space virtually everywhere.
With the recent success of companies such as Beyond Meat and Impossible Foods, plant-based proteins have entered our collective consciousness. However, the push for plant-based proteins extends far beyond burger alternatives. In fact, today's consumers can buy plant-based alternatives in chips, pasta, and even frozen meals. For both the betterment of personal health and for the betterment of the environment, American consumers are turning to plant-based proteins more often than ever. Let's take a look at plant-based protein preferences in America.
In recent years, consumers have become considerably more conscious about the food they purchase. Concerns ranging from the way food is produced to the ingredients that each product contains have shaped our tastes and, in turn, the products we see on the shelves. Though attitudes vary among consumers, the bread and bakery sector has persisted. However, even dietary staples like bread are subject to changing tastes. Here, we take a look at consumer attitudes, preferences, and concerns when it comes to their baked goods.
As technological advances continue to reshape the world we live in, industries from automotive to financial services are undergoing great change. For the food and beverage industry, it’s no different. Whether it’s the chemical composition of the food that we eat, who is selling it, or where it’s being sold, brands must adapt their offerings to fit the need of the modern consumer. Here, we take a look at four trends that are shaping the future of the food industry.