The eating at home business – an estimated total of retail packaged food and delivery/takeaway foodservice sales combined – has surged as an effect of the pandemic, and it is offering more options for consumers. In 2022, it was a USD3.8 trillion market and estimated to cross USD4.6 trillion by 2027.
Plant-based food demand in Asia is rooted in a long history of plant-based eating, including traditional foods such as soy drinks and tofu. The rise of Western-style plant-based diets in recent years has brought new dynamics to the Asian market where exciting innovations drive awareness and trial in both foodservice and retail. Meanwhile, local players are actively giving local twists to products, leading to increasing product availability.
This is the first of a new series of quarterly articles, highlighting key trends across energy, food and metal commodity markets. Commodity price volatility and supply shocks have ripple effects on the entire value chain, affecting business activities, costs and prices of end products. As a result, businesses are forced to adapt their strategies to manage the risks associated with commodity market fluctuations, while consumers’ behaviour shifts amid the cost-of-living crisis.
Protein is increasingly sought-after due to its perceived health benefits; higher protein consumption is being linked to overall wellbeing. In the food and nutrition space, a growing number of manufacturers are including protein in products previously not associated with it in consumers’ minds (eg breakfast cereals and pasta).
As beauty and wellness continue to converge, the oral care segment is seeing continued focus on oral health, on ingredients, and on premiumisation. Innovation in sustainability, purpose and ingredient sourcing are driving growth. Here, we uncover the best prospects for the oral segment globally, while also highlighting the most significant challenges.
Looking at the year ahead, 2023 is expected to bring more challenges, but also opportunities to positively evolve the snack industry. Euromonitor International’s snacks research has identified five key trends set to shape snacks this year: Snacks Seen More as Staples, Channel Conscious Shopper Shifts, Guarding Core Categories, Nurturing Nutritional Demands, Delivering on Nostalgia and Needed Distractions.