The SFA and Mintel predict that due to increased financial constraints on consumers, conventional food sales may outpace specialty in 2020 for the first time in 15 years. Their annual State of the Specialty Food Industry report, reviewed sales data from the past three years, 35 category forecasts and a consumer trend survey to help explore the future of specialty food.
As many consumers aim to reduce or eliminate red meat from their diets, seafood is becoming a popular choice for mealtime. But faced with a limited supply of fish, plant-based and cultivated meat makers are recognizing a wave of opportunity for alternative seafood innovations, according to The Good Food Institute.
Food brands should expect to see “structurally higher” growth heading into 2021, according to two recent webinars hosted by banking firm RBC Capital Markets, in which analyst Nik Modi explained how societal, economic and educational factors have already impacted consumer behavior.
In a webinar last week, health and wellness market insights firm Social Nature outlined how better-for-you CPG companies are adapting to changing shopper behavior as consumers’ focus shifts toward health and wellness products and e-commerce.
Although some consumers have turned to larger conventional food brands during the COVID-19 pandemic, many still shop with wellness in mind, creating even more opportunity ahead for natural brands. According to a report co-authored by data firms IRI and SPINS, natural product sales are not only higher than last year, but in some cases are even outperforming their conventional counterparts.
As many states begin to reopen businesses, IRI reflected on the 2008 recession to help brands prepare for the months ahead, while the FDA and USDA announced plans for supply chain management collaboration. Here’s the latest COVID-19 news from around the industry this week.
Although impulse buys are taking a hit during COVID-19, IRI expects on-the-go snacks to regain steam, especially with younger generations and Hispanic shoppers, once normal schedules return. In a recent report, IRI discussed the organization’s findings on snacking trends during 2019 and COVID-19 — and how both might influence the future of snacking.
As COVID-19 rapidly transforms consumer behavior, data firms are closely monitoring patterns — and looking to past economic debacles to help predict an uncertain journey ahead.
With consumers stockpiling pantry items in response to the novel coronavirus (COVID-19), research firm Nielsen is studying their shopping habits during this unique time — both globally and in the U.S. This week, Nielsen identified six key consumer behavior patterns that tie directly to coronavirus updates and appear across multiple markets.
According to new research by the PBFA, GFI and SPINS, the plant-based market had a powerful 2019, fueled by alternative meat and milk products. At the same time, an FMI study shows meat consumption is still strong — though often consumed in moderation.