As we enter 2025, the food price inflation surges of 2022/23 are in the rear-view mirror. Willingness to look beyond price is returning, and factors such as eating healthily and avoiding ultra-processed foods are (re)gaining prominence. However, consumers remain cautious and, overall, cost-driven purchases are remaining front-of-mind.
In staple foods and cooking ingredients and meals, consumers are increasingly discerning, prioritising locally sourced, high-quality products that embrace clean labels, as they are increasingly conscious of their health and the ultra-processed food stigma. In fact, sustainability is fuelling expansion in the staple foods and cooking ingredients and meals industries, with sustainable products retail value sales growing at a 7% CAGR (2020-2023).
This infographic highlights recent trends in staple foods and Euromonitor's projections for the industry.
Following a year of strong inflationary pressures driven by the global energy crisis, shortages of raw materials, and high labour and transport costs, staple food producers may have hoped for an easier time in 2023. However, over the last year, they were forced to navigate an industry further challenged by weakened consumer purchasing power, trade restrictions, stricter health regulations and rising concerns on climate change.
Most markets have emerged from strict pandemic restrictions in 2022, but the expected shifts in sales of staple foods were disrupted by surging inflationary pressures around the globe, and these pressures significantly worsened with Russia’s invasion of Ukraine. As populations continue to increase and climate change exacerbates production uncertainty, producers are navigating a post-pandemic landscape characterised by higher demand, rising costs and ever-greater challenges.
Is it vegans who are the main consumers of meat and dairy alternatives? Or is it people who are cutting down on animal-based foods – meat and dairy limiters? Thanks to Euromonitor International’s Voice of the Consumer: Health and Nutrition survey, it is possible to determine the answer.
In 2013, the world’s first cultivated burger was unveiled at Maastricht University. It cost USD300,000 and took two years to make; the developers went on to form Mosa Meats in 2016. Since 2013, multiple start-ups have joined the fray, and as of mid-2022, an estimated 30-45 were working on cell-cultured food. While many of these start-ups' estimates for product launches have come and gone, in one country (Singapore) it is possible to buy and consume cell-cultured meat - and countries around the world are gearing up to follow suit.
With staple foods continuing to see inflationary pressure due to a number of cost-push and demand-pull drivers, monitoring these categories and their changing daily prices is paramount for staying ahead of the competition. Using Via, Euromonitor International’s e-commerce tracking tool, prices for stock keeping units (SKUs) by product categories and leading players can be easily tracked and compared.
Staple foods have come under intense pressure from inflation in recent times, and the drivers show no immediate signs of easing. While costs were already rising across the board, Russia’s invasion of Ukraine and the resulting impact on the world’s wheat supply has meant costs have soared for producers and prices have surged on-shelf for consumers.
The National Restaurant Association (NRA) Show took place in Chicago from 21-24 May 2022. As the foodservice industry recovers from the challenges of the pandemic, companies are focused on innovation to drive business. The show hosted attendees from around the world and featured the latest developments in food, drinks, packaging, and technology for the restaurant industry. Euromonitor International analysts attending the show observed several key trends driving innovation.
Companies around the world are struggling with price increases due to disruptions in local and global supply chain. It is critical for companies to stay aware of changing online prices and understand how competitors' products are faring.
疫情期间,许多常规的习惯不得不改变,日常使用的产品也要重新考虑。由于免疫力、肥胖和其他潜在健康因素都可能与新冠感染有关,所以更多消费者期望通过饮食改善健康。同时,长达数月的在家隔离和休息使很多人重新思考卡路里摄入、消化问题和增肥对整体健康的影响。
In a time when the world is striving to create a balance between sustainability and profitability, a challenge such as food waste can severely undermine these efforts. With recent advancements in sustainable development and increased international pressure on countries to play a role in mitigating associated risks, many countries are exploring novel ways to reduce food waste.
The COVID-19 pandemic profoundly disrupted the market for meals in Germany. With foodservice largely restricted, most food spending is funneled into grocery retail and retailers are leveraging this position of strength, working with grocery delivery startups, to target consumers at home.
During the pandemic conventional dietary habits were challenged, and daily use products were reconsidered. Consumers’ expectations of gaining some health-boosting benefits from food increased, as it appeared that immunity, obesity and other underlying health factors could be key when faced with COVID-19.
Sales of alternatives to animal-based products have boomed in recent years, with dairy and meat substitutes seeing strong sales. As plant-based products gain more consumer attention, the demand for seafood alternatives is also seeing dynamic growth and evolving fast.
The British Government’s anti-obesity regulation on products high in fat, sugar and salt (HFSS) is likely to impact packaged food and soft drinks, both in terms of brands and consumers. Although the new legislation might come as a hindrance for some categories, it might also offer an opportunity for others.
Eating occasions have evolved significantly. Changes in consumer habits - and the concept of the home as a hub - will have a key influence in shaping eating habits over the next few years. Meanwhile, experiential dining out and food discovery at specialist retailers have been under threat, leading to a surge in experimentation at home. Value for money positioning is more important than ever as consumers seek novel experiences despite tightened budgets. Here we examine the drivers and innovation examples that businesses can benefit from in line with these evolving eating occasions.