US Food Market Outlook 2023: Inflation, Sustainability, Convenience, & Other Food Trends

DUBLIN, Oct. 17, 2023 /PRNewswire/ — The “US Food Market Outlook 2023: Inflation, Sustainability, Convenience, & Other Food Trends” report has been added to ResearchAndMarkets.com’s offering.

Most major packaged food categories are mature and rely primarily on population growth, leaving food marketers with the challenge of bringing something new to the table. Opportunities abound for companies that invest in new product launches, ingredient changes, and different marketing tactics to appeal to changing consumer preferences. Some trends in 2023 – like inflation – are continuations of 2022 issues while others – like sustainability – are trends that are resurfacing in a bigger way again after having taking a back seat to other concerns in the height of the pandemic.

Inflation-fueled higher prices are a core trend from 2022 that is continuing in 2023, as supply challenges, higher ingredient and energy prices, and rising labor costs combine to test suppliers, retailers, and consumers. This has led to consumers seeking value, whether that means in comparison to the price of dining out or in comparison to routine grocery items, with private label options seeing surges across all categories. Additionally, food shoppers are increasingly placing sustainability at a higher priority level again, with plant-based options, clean labels, sustainable supply chains, and recyclable and reduced packaging as key trends. Furthermore, shoppers are presenting preferences with contradictions as they are looking for indulgence, but better-for-you versions, and chef-inspired menus, but with convenient preparation.

With a focus on growth opportunities and “what’s next” – along with bringing decades of food and beverage market perspective and analysis to the table – U.S. Food Market Outlook 2023: Inflation, Sustainability, Convenience, & Other Food Trends is packed with actionable insights about consumer trends, behavior, and motivations. This report delivers predictions and recommendations designed to guide retailers, service providers, wholesalers, food processors, packaging firms, and investors in making business decisions about the food market.

Scope

Combining the publisher’s extensive monitoring of the food and beverage market with proprietary surveys, U.S. Food Market Outlook 2023 is the go-to source for a complete understanding of the U.S. food market. This broad-based report evaluates current trends and future directions for marketing and retailing, along with consumer patterns across the food market.

U.S. Food Market Outlook 2023 examines product availability; surveys retail channel trends; and analyzes consumer trends and motivations. This report focuses on the market for selected food products sold to consumers in the United States through retail channels. All retail channels of distribution are covered in market sizing and discussion, including supermarkets and grocery stores, mass merchandisers and supercenters, warehouse clubs, natural food stores, convenience stores, drugstores, dollar stores, and direct-sales channels including online. Market size data and projections are provided at the retail sales level.

Key Topics Covered:

Executive Summary

  • Food Retail Sales Forecast
  • Food Trends
  • Private Label Surges Due to Inflation
  • CEA-Indoor Farming
  • Plant-Based Alternatives
  • Non-Plant-Based Alternatives
  • Mindful Indulgence
  • Convenient At-Home Restaurant Quality

COVID-19 Effects on Consumers

  • Highlights
  • Concerns about COVID-19 Exposure Remain
  • Impact on Food
  • Concerns About High Prices and Shortages
  • Concerns About Shortages
  • Consumers Still Stockpiling
  • Eating Patterns: What & When
  • Eating Comfort Foods
  • Eating Fresh Produce
  • Eating Processed Foods
  • Eating Snacks & Treats
  • Pandemic-Era Eating Frequency
  • Home Cooking Remains Relatively High
  • Boosted Online Grocery Shopping Activity Continuing Through 2022
  • Activity Spiked in 2020 during the Early Part of the Pandemic
  • Many Have Continued Ordering More Groceries Online in 2021 and 2022
  • Use of Meal Kit Delivery Services
  • Effects on Work Have Continued in 2021 and 2022 and Continue in 2023
  • Changes in Work From Home Frequency

Overview

  • Food Retail Sales Forecast
  • Distribution Trends
  • E-Commerce and Grocery Delivery
  • Table | Purchased Groceries Over Internet in Last 30 days, 2012-2022 (percent of US adults)
  • Faster Home Delivery
  • Autonomous Delivery
  • Drone Delivery
  • In-Home Delivery
  • On-Demand Delivery
  • Instacart Helps Retailers Drive Sales, Save Customers Money
  • Snacking
  • Frequency of Snacking and Reasons for Snacking
  • Snacking Highest in the Afternoon
  • Fruit Most Preferred in Morning, Savory/Salty and Sweet Treats at Night
  • Home Meal Kits
  • Home Meal Delivery

Food Trends

  • CEA-Indoor Farming
  • Plant-Based Alternatives
  • One-Fourth of Consumers Claim to Primarily Follow a Flexitarian Diet in 2022
  • Plant-Based Meat and Poultry Alternatives
  • Blends
  • Plant-Based, Dairy-Free Alternatives
  • Non-Plant-Based Alternatives
  • Cultivated Meat Approaches Commercialization in US
  • Other Alternatives
  • Animal-Free Dairy
  • Embrace ESG
  • Packaging
  • Healthier-For-You
  • Natural
  • Reduced or Zero Sugar
  • Incorporating Vegetables
  • Diet-Friendly
  • Mindful Indulgence
  • Excite the Senses
  • Kid-Focused
  • Convenient At-Home Restaurant Quality
  • Partnerships Advantageous
  • Private Label Surges Due to Inflation

Cereal

  • Sales Outlook
  • Market Increasing to Over $13 Billion in 2027
  • Category Sales
  • Key Opportunities

Chocolate Candy

  • Sales Outlook
  • Market Increases to Over $35 Billion in 2027
  • Segment Sales
  • Key Opportunities

Cookies

  • Sales Outlook
  • Market to Approach $18 Billion in 2027
  • Key Opportunities

Fresh Bread

  • Sales Outlook
  • Market Increasing to Over $22 Billion in 2027
  • Segment Sales
  • Key Opportunities

Fresh Packaged Salads

  • Sales Outlook
  • Fresh Packaged Salad Sales Increasing to Over $9 Billion in 2027
  • Segment Sales
  • Consumer Insights
  • Packaged Salad Consumption Still Much Higher Than Pre-Pandemic Levels
  • Packaged Salad Eaters Don’t Consume That Often
  • Key Opportunities
  • CEA-Indoor Farming
  • Convenient Restaurant Quality
  • Embrace ESG

Frozen Dinners/Entrees

  • Sales Outlook
  • Market Increasing to $17.4 Billion in 2027
  • Category Sales
  • Key Opportunities

Frozen Pizza

  • Sales Outlook
  • Market to Exceed $9 Billion in 2027
  • Consumer Insights
  • Only About Half of US Households Eat Frozen Pizza
  • Frozen Pizzas Eaters Don’t Eat Them That Often
  • Key Opportunities
  • Restaurant Quality at Home
  • Mindful Indulgence
  • Ultra-Indulgent
  • Excite the Senses

Ice Cream and Frozen Novelties

  • Sales Outlook
  • Market to Approach $19 Billion in 2027
  • Category and Segment Sales
  • Consumer Insights
  • Consumption Data at Odds With Sales Data
  • Regular (Full-Fat) Ice Cream Overwhelmingly Preferred
  • Ice Cream/Gelato/Sherbet Eaters Don’t Consume Much
  • Key Opportunities
  • Excite the Senses
  • Reimagine Classics and Nostalgia
  • Mindful Indulgence
  • Dairy Alternatives
  • Animal-Free Dairy
  • Embrace ESG

Meal & Snack Bars

  • Sales Outlook
  • Market at $10 Billion in 2027
  • Category Sales
  • Consumer Insights
  • Some Consumption Data at Odds With Sales Data
  • Heaviest-Consuming Snack Bar Group Expands
  • Key Brand Differences
  • Key Opportunities
  • Mindful Indulgence
  • Healthier-For-You
  • Excite the Senses
  • Kid-Focused
  • Embrace ESG

Meat and Poultry

  • Sales Outlook
  • Market to Exceed $145 Billion in 2027
  • Category and Segment Sales
  • Consumer Insights
  • Consumption Down in 2022
  • Fresh Overwhelming Preferred Over Frozen
  • Trouble Holding Bacon and Sausage Pandemic Gains
  • Key Opportunities
  • Convenient Restaurant Quality
  • Excite the Senses
  • Plant-based Alternatives
  • Blends
  • Cultivated Meat Approaches Commercialization in US
  • Other Alternatives
  • Embrace ESG

Natural and Specialty Cheese

  • Sales Outlook
  • Market Increasing to over $23 Billion in 2027
  • Category Sales
  • Key Opportunities

Salty Snacks

  • Sales Outlook
  • Market to Exceed $48 Billion in 2027
  • Segment Sales
  • Consumer Insights
  • Other Snacks Gain but Potato Chips Still Most Preferred
  • Chip Eaters Don’t Consume Much
  • Key Opportunities
  • Excite the Senses
  • Mindful Indulgence
  • Embrace ESG

Soup

  • Sales Outlook
  • Market Increasing to Nearly $12 Billion in 2027
  • Key Opportunities

Yogurt

  • Sales Outlook
  • Market Over $12 Billion in 2027
  • Category Sales
  • Consumer Insights
  • Yogurt Consumption Relatively Steady After Pandemic Boost
  • Steady Increase in Regular (Full-Fat) Yogurt Consumption
  • Yogurt with Fruit Most Popular But Declining

Greatest Growth from Those Eating the Least

  • Key Opportunities
  • Healthier-For-You
  • Dairy-Free and Plant-Based Alternatives
  • Increase Kids’ Consumption
  • Excite the Senses
  • Continue Leveraging Snacking Trend
  • Embrace ESG

For more information about this report visit https://www.researchandmarkets.com/r/26ddw8

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