The year 2022 cannot be discussed without highlighting the volatility seen in prices due to inflation. Inflationary pressures have led to price increases across categories in the grocery aisles.
Convenience has been a major trend in 2022, which is evident in the exceptional success of meal delivery companies. HelloFresh, Home Chef, and Blue Apron all offer meal delivery services that aid in meal preparation and facilitate the overall cooking experience, eliminate the guesswork in shopping, and minimise clean-up and food waste.
In 2022, the competitive landscape across categories has expanded, with the popularity of private label increasing due to rising unit prices, and other smaller brands popping out of the woodwork. In herbs and spices, the leading player McCormick is set to lose share, but instead of this share feeding directly into private label, as it does in other categories, it is actually being absorbed by both private label and other brands – smaller brands that have been emerging and claiming share in an otherwise consolidated category.
As the US market is normalising after the peak of the pandemic, foodservice is set to continue its path to recovery in 2022, after the massive volume decline experienced in 2020 as a result of closures due to COVID-19. Consumers have also been increasingly willing to resume social activities, including eating out at restaurants.
E-commerce is expected to be the distribution channel in which to invest moving forward. Meal delivery services prove this, with their strictly online platforms allowing consumers to personalise their order and have it delivered to their door, all at their fingertips.
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Cooking Ingredients and Meals
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