Food Institute Top Trends
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Transcript of Food Institute Top Trends
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Food IndustryReview
2013 edition
The Ultimate Reference Guide
“from FARM to FORK”
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Food Industry Review Consumer Trends Retailing Formats Restaurants &
Foodservice Technology & Social Media Sustainability Specialty & Organic New Products Private Label Food Processing Mergers & Acquisitions Demographics CPI/PPI
~ 2013 Edition ~
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Consumer Trends~ Market Influences
~
Lifestyle ChangesNew Shopping Behaviors
TechnologyEconomy
Value
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Consumer TrendsHow much time do Americans spend on food?
Eating Behaviors – how many minutes?Where, When and With Whom are we eating?What are we doing while eating?
Let’s discuss the TRENDS◦Snacking◦Impulse Purchases◦Healthier eating habits
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Retailing Formats …What’s Trending?
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2013 and beyond Online shopping Cautious Consumer Simplified Shopping “FRESH” Retailers Warehouse Clubs Strong New Concept Stores “test the waters”
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Restaurants&
Foodservice Chain restaurants see a brighter
future◦ Micro Desserts◦ Better Burgers Better Sandwiches
QSR Trends◦ Fast food menu revamps◦ Attracting more “health conscious”
consumer
Continued push for foreign expansion
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Technologyand
Social Media
Impact onFood Retailers
Think outsidethe Box
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Sustainability
Less packagingSustainable seafoodMore environmentally responsible
retailers/manufacturersSustainable efforts highlighted
◦ LEED Certification◦ Solar Power initiatives◦ By-Product Energy
~ Lessen the Environmental Footprint ~
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The numbers reveal …Specialty Food
growth continues
Age ~ Income ~ Region(key factors in Specialty Food Purchases)
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Organics and Local“Natural and organic products aren’tcompletely passe, but local varieties are steadily gaining ground.”
Source: John Frank, Mintel
Between 2013 and 2015, specialty food manufacturers, distributors and retailers all agree that “LOCAL” claims will grow the most.
Source: NASFT Report
“Organic products are healthier for my family and me”Source: OTA U.S. Families’ Organic Attitudes and Beliefs Study
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New Products 2013
Yogurt offeringsSnacking optionsNovel beveragesAll-natural offerings for childrenCoconutNew Flavor offerings
Looking for inspiration for your new product?Nostalgia and Innovation
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Private Label Favorable perception
continues to grow
Retailers diversify offerings and expand brands
Canned sector enjoys sales growth as consumers trade down
Driving drug store sales
What’s in a Name?
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FOOD PROCESSING
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Mergers & Acquisitions
What’s Impacting Food Business M&A?
◦Debt crisis in Europe◦Investment banks and private equity
firms◦Retailers post big year in acquisition
activity◦Franchised restaurants
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Demographics
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Understanding Consumer Spending
Analysis of every variable that impacts food industry◦ AGE◦ INCOME◦ EDUCATION◦ GENDER◦ COMPOSITION OF HOUSEHOLD◦ SIZE OF HOUSEHOLD◦ RACE & ETHNICITY◦ REGION OF COUNTRY◦ METRO/RURAL/URBAN LOCALE
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Consumer Price Indexand
Producer Price Index
“
“Those who do not learn from history are doomed to repeat it”
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THANK YOUTo become a member and gain full access:
www.foodinstitute.com/joinfi or
Call Lina at 201-791-5570, ext. 214