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U.S. Foodservice Revenues to Decline 25% from 2019, But are Expected to Rebound by 2024
Although full-service restaurants have slowly been losing share of restaurant spending to less expensive and more convenient fast food and fast casual restaurants, they still made up the largest share of revenues from eating and drinking places in 2019, according to Food Carryout & Delivery, a recently published report market research firm Packaged Facts.
As the coronavirus pandemic sweeps the nation in 2020, foodservice revenues are forecast to decline more than 25% from 2019 as dine-in service shuts down amid decreased consumer spending on restaurants as people stay at home and cook more even as some states slowly begin reopening. Revenues will...
Packaged Facts: Global Meat Consumption On the Rise
While meat-eaters are increasingly trying plant-based protein options, meat consumption worldwide is expected to increase 1.4% per year through 2023, according to data published in the new Packaged Facts report Global Meat & Poultry Trends.
Meat and poultry consumption in the U.S. is expected to increase less than 1.0% per year through 2023, but greater gains are projected in other parts of the world. Most notably, nations in Africa and the Middle East are forecast to register the fastest increases in meat consumption, as rising living standards and income levels allow more people to incorporate meat into their regular diet.
"In many parts of the world, meat is among the least affordable food options. It is generally pricier than locally available grains, beans, vegetables, and fruit. However, as average incomes rise, more people to eat meat, first as...
Gen Z and Millennial Consumers Naturally Favor Organic Foods and Beverages
The prevailing demographic of organic consumers skews in two directions. Most obvious are consumers who are upscale (including higher educational attainment and household income). Less obvious are younger adult consumers of the Gen Z (ages 18-24) and Millennial (ages 25-39) generations, reveals Packaged Facts in the new market research study Eating Trends: Generational Food, the final report in a five-part Eating Trends anthology.
“Millennials and younger members of Generation X tend to be the biggest users of organic foods, and much more likely than average to agree that they especially look for...
Packaged Facts: Affluent Consumers Favor Fresh, Local, and Simple Food Brands
The 42 million affluent food shoppers with household incomes of $150,000 or more exercise an outsize influence on the U.S. food industry, reports Affluent Food Shoppers, a market research report by Packaged Facts. Where affluent consumers grocery shop, how they grocery shop, and which food and beverage products and brands they purchase cause them to have a disproportionate impact on the bottom line of brick-and-mortar supermarkets and grocery stores.
When it comes to brand preference, many brands that are popular among affluent food shoppers share certain specific characteristics. Natural and organic brands garner much of the attention, but...
Restaurant Gift Card Use Trends Up
Gift card season is officially upon us. And though the majority of Winter holiday shoppers are focused on gift cards for top retailers, it’s important not to overlook the growing use of gift cards to popular restaurants and coffeehouses.
In the recent report Eating Trends: Restaurant Use, Packaged Facts states that between 2011 and 2019, the share of adults who buy gift cards overall has declined by five percentage points, to 39%. However, purchase of gift cards specifically for restaurants or coffeehouses is up by three percentage points, to 20%. Usage has steadily increased each year since 2011. As a result, growth in use of restaurant gift cards, much like growth in the use of restaurant coupons, is...
Packaged Facts: Food E-Commerce Sales will Increase 32% Annually
Online sales of food and beverages in the United States reached $17 billion in 2018, making the U.S. the second largest food e-commerce market in the world with 15% of global sales, according to U.S. Grocery Market Focus: The Amazon Food Shopper, 2nd Edition, a new report by market research firm Packaged Facts.
Through 2023, food e-commerce sales in the U.S. are forecast to increase 32% per year. As the availability of online grocery shopping expands and consumers begin to embrace online shopping for its convenience compared to shopping in-store, sales are expected to rise dramatically.
"This is undoubtedly a market that is ripe for...
Packaged Facts: Consumer Use of Restaurant Coupons
Though overall use of coupons is down since 2009, consumer use and redemption of restaurant coupons is up by five percentage points, to about a third of U.S. adults, according to Eating Trends: Restaurant Use, the fourth study in a five report Eating Trends series by market research firm Packaged Facts.
Restaurant coupons have been given a boost by instant, digital, and online/app point-of-sales use through newer delivery services—this is on top of longstanding restaurant coupon use for fast-food pizza chains (including delivery or take-out) or other fast-food chains (including for drive-through).
These services have helped diversify the range of eating establishments and the range of...
What’s Next for Amazon: Expanding AmazonFresh Beyond Online Grocery and into Brick-and-Mortar Stores
Dropping monthly fees associated with AmazonFresh and instead making it a free benefit for Prime members is not just about reenergizing Amazon’s online grocery service. It suggests that Amazon intends to use the brand to grow beyond the limitations imposed by Whole Foods-Prime Now relationship.
Behind the scenes, Amazon has clearly been trying to figure out how to balance AmazonFresh and Prime Now, its 1-2 hour delivery service. Since acquiring Whole Foods in 2017, Amazon seems to have given Prime Now more attention, leveraging...
Amazon to Overtake Walmart by 2022, Forecasts New Packaged Facts Report
Amazon is set to become the largest retailer in the United States. While Walmart is currently the largest retailer, its reign may end in 2022, at which time market research firm Packaged Facts forecasts that Amazon will surpass Walmart, based on the expectation that Amazon sales will continue to grow at a much faster rate.
Packaged Facts made the prediction in the brand new report, Amazon Strategies and the Amazon Shopper, 2nd Edition, which analyzes the e-commerce giant's activities in grocery, pet products, and financial services.
"Amazon's already has an enormous impact on e-commerce sales, benefitting from its creation of an endless online aisle with...
Packaged Facts: Alternative Proteins Budding with Organic and Clean Label Food Shoppers
Though the majority of Americans eat meat, trends throughout 2019—from the launch of Burger King's Impossible Whopper to skyrocketing shares of Beyond Meat's blockbuster IPO—hint at the multi-billion dollar potential impact of plant-based products on the nation's food and beverage market.
According to The Organic and Clean Label Food Shopper, 2nd Edition, a brand new report by market research firm Packaged Facts, consumers are increasingly more adventurous with what they eat and more consider themselves flexitarian than in the past. Packaged Facts reveals that only 6% of Baby Boomers claim to eat flexitarian diets, while 13% of Generation Z considers themselves flexitarian, showing the trend is...
Packaged Facts: 4 Ways Grocers can Improve Outreach to Affluent Food Shoppers
The food culture and buying habits of affluent food shoppers (the 42 million food shoppers in the U.S. with household incomes of $150,000 or more) cause them to have a disproportionate impact on the bottom line of brick-and-mortar supermarkets and grocery stores. Affluent food shoppers are more prone than other food shoppers to shy away from conventional shelf-stable packaged foods and are more likely to spend their money and time on buying and experiencing higher margin store perimeter products and services.
In the market research report Affluent Food Shoppers, Packaged Fact identifies four key ways that U.S. grocers can better attract and meet the needs of this important consumer segment...
Meal Kits and Online Grocery Shopping Revitalize Interest in Home Cooking
More than half of U.S. adults claim they really enjoy cooking (53%) and more than a third consider the kitchen to be the most important room in the home (35%), according to data in the new report Eating Trends: Cooking & Food Shopping from market research firm Packaged Facts. These percentages are up compared to a decade ago.
Packaged Facts found that most people who don't cook at home either have a lack of time to grocery shop and meal prep or they lack confidence in their cooking skills. The latter reason is especially prevalent among Gen Z adults (ages 18-24) and to a lesser extent Millennials (ages 25-39).
The meal kit industry is arguably the best example of a food industry segment that's making it easier for adults to start cooking more at home again. The products are marketed to emphasize...
Packaged Facts: Retail Breakfast Trends Focus on Health-Related Product Claims and Positioning
Health and wellness trends have significant impact on consumer attitudes and behaviors when shopping for food and beverages, according to market research firm Packaged Facts in the report Breakfast: Retail Product Trends and Opportunities in the U.S., 2nd Edition. The dilemma is that health is a subjective term. This means there is a range of desired product attributes that consumers seek out to fit within their perspective of what's healthy.
While low calorie and low carb were at one time benchmarks for health food, attention has shifted to a greater focus on low/no sugar or low/no added sugars. Sugar is an ingredient in many packaged breakfast foods, especially cereal and breakfast pastries.
Health trends are moving away from being diet-focused in favor of adopting a healthy lifestyle. With increased knowledge of food sourcing and...
Mobile Payment Trends Create Growth in Global Food E-Commerce
A country’s mobile payment usage will be an increasingly strong indicator for its food e-commerce market going forward, as consumer familiarity with making mobile payments is key for boosting online shopping, reports Packaged Facts in the recent market research study Global Food E-Commerce (published May 2019).
Research in the report reveals that:
Mobile payments are central to online-to-offline grocery experiences such as Alibaba’s Hema Fresh and JD.com’s 7Fresh in China. U.S.-based Kroger and Walmart also offer...
Packaged Facts: Retail Market for Meat Substitutes Now a Billion Dollar Industry
Major opportunities remain in meat and poultry, though not in the usual ways or for the usual players, according to U.S. Food Market Outlook 2019, a report by market research firm Packaged Facts.
Leading players have done much to innovate in meat and poultry with new and acquired products that offer premium farm-to-table experiences with authentic stories; organic ingredients; or grass-fed, free-range, and locally raised animals. Most importantly, they will continue to do so. Nevertheless, meat substitutes and alternatives have...
Affluent Food Shoppers: Money Isn’t Everything
With their laser-like focus on healthy eating, sophisticated tastes, and ample financial resources, the 42 million food shoppers with a household income of $150,000 or more exercise an outsize influence on the food industry. The sheer volume of spending on food at home by affluent households—which is in excess of $100 billion—makes them an essential consumer segment for food manufacturers, marketers, distributors, and grocers.
But it’s not money alone that sets affluent food shoppers apart. Besides spending a lot more money every year buying food to eat at home (74% more than their less affluent counterparts, according to the U.S. Government’s Consumer Expenditure Survey), the way affluent food shoppers spend money at the grocery store is...
Affluent Food Shoppers More Likely to Purchase Natural and Organic Products
The belief that natural and organic practices produce foods that are tastier, more nutritious, and healthier continues to germinate in the minds of key consumer demographics. The result has created a pervasive and enduring trend that spreads to virtually every corner of the food and beverage industry.
Wealthy Americans are among the most influential and active participants in the natural and organic food market, according to Affluent Food Shoppers, a new report by market research firm Packaged Facts.
Packaged Facts’ consumer survey data found that affluent food shoppers are increasingly moving in the direction of eating more organic and natural foods. They are more likely than non-affluent food shoppers to respond that they are eating more natural foods or organic certified foods compared to...
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