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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...
Global Food E-Commerce: 5 Growth Trends Through 2023
Global food e-commerce sales are forecast to nearly triple through 2023, rising to $321 billion and accounting for nearly 5% of total e-commerce revenues, according to market research firm Packaged Facts in the new report Global Food E-Commerce.
Packed Facts projects the Asia/Pacific region will account for the majority of absolute growth, primarily due to the rapidly expanding Chinese market. China dominates regional e-grocery activity in part because of the country's large urban population and rapidly expanding middle class. In addition, much of China's very large population has access to high-tech devices and the ability to shop online, due to the country's position at the forefront of technological development and electronics...
Meal Kits: Why Older Adults Offer the Ideal Target Market
Think meal kits are a Millennial or Gen Z trend best suited to the novice cooking skills of adults under age 40? Packaged Facts encourages you to reconsider. The market research firm reveals in the report, Meal Kits: Trends and Opportunities in the U.S., 3rd Edition, that older adults provide a wealth of growth opportunities.
Many older consumers are experienced cooks who enjoy a homemade meal. However, as people age, their ability to use their hands and their ability to leave their home to shop for groceries may be diminished.
Older consumers are more likely to have developed conditions such as arthritis and tremors that make it difficult to engage in food preparation tasks, especially chopping and peeling vegetables. Meal kit delivery services can...
Affluence in America: Baby Boomers Control Nation’s Wealth, but Shifts are Underway
By a wide margin, Baby Boomer households control more wealth than any other generation, according to market research firm Packaged Facts in the brand new report The Financial Services Market: Affluent and High Net Worth Consumers, 8th Edition.
Packaged Facts estimates that in 2019 Baby Boomer households garner 54% of total U.S. household net worth, followed by Generation X and Silent Generation/Senior households. Well behind, Millennial households contribute only 4% of total U.S. household net worth.
Despite current trends, Packaged Facts’ research reveals that major generational shifts are underway ...
U.S. Food Market Outlook 2019: 4 Key Trends
What’s in store for the food industry in 2019? Market research firm Packaged Facts predicts “disruptive innovation” that will shake up years of subtle stagnation in the mature food industry and spur growth over the foreseeable future.
In U.S. Food Market Outlook 2019, the latest edition of its best-selling series, Packaged Facts examines “disruptive innovation” across 14 essential food categories: Cereal, Chocolate Candy, Cookies, Fresh Bread, Fresh Packaged Salads, Frozen Dinners/Entrees, Frozen Pizza, Ice Cream/Frozen Novelties, Meal/Snack Bars, Meat/Poultry, Natural & Specialty Cheese, Salty Snacks, Soup, and Yogurt.
Packaged Facts identifies several key disruptive trends to watch for in 2019. Four of these top trends involve...
Gen Z Adults Seek Foods Fitting Their Busy, Yet Health Conscious Lifestyles
Gen Z young adults have been caught up in the change in America's food culture that has moved consumers away from three sit-down meals at fixed times and in the direction of multiple eating experiences that occur throughout the day. As a result, today's 18- to 24-year-olds are more likely than their Millennial predecessors to say they often snack between meals (74% vs. 66%). When they do slowdown to prepare a meal, Gen Z young adults are much more likely to prefer simple, easy-to-prepare meals (58% vs. 40%). The findings were published in Looking Ahead to Gen Z: Demographic Patterns and Spending Trends, a report from Packaged Facts, a leading market research company.
Data published in the report further reveal that households headed by adults under age 25 are 29% more likely to ...
Walmart Dominates with Unmatched Omni-Channel Grocery Momentum, According to Packaged Facts
Walmart is the in-store grocery leader. Some 27% of in-store grocery purchasers say Walmart is the in-store retailer they get groceries from most, more than twice as many as Kroger, the next most chosen retailer, according to market research firm Packaged Facts in the report U.S. Grocery Market Focus: The Walmart Food Shopper. While Walmart may be behind the overall e-commerce curve, it is already a leading online grocery player. Packaged Facts reveals that 23% of online grocery purchasers claim Walmart is the one they use most for groceries, second only to Amazon, with 38%.
To build out its omni-channel grocery capabilities, Walmart has only just begun leveraging its roughly 4,000 Walmart-branded and 600 Sam's Club branded grocery and ...
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