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Global foodservice transactions continue to recover in 2022 from the strong decline of 2020. In this article we show the reasons for the recovery, such as the desire to enjoy life and the rise of ordering food for home delivery, and what can packaged food companies do in light of the recovery of foodservice.
While the number of vegans and vegetarians globally remains small compared to meat-eaters, there are an increasing number of flexitarian consumers willing to cut down meat consumption and looking for healthier and more sustainable alternatives to meat.
The strong increase in prices of packaged food and fresh food is directly linked to a rise in costs of production, including raw materials, commodities, labour, energy and transportation. Consumers reactions to inflation differ depending on income level, price sensitivity and brand loyalty. While the paths taken by companies to respond to rising cost include lowering margins, reducing pack sizes, changing packaging, and replacing ingredients, among others.
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