The pandemic has turned eating patterns and habits upside down for many Australians. With more people staying at home more often and adopting a more hybrid lifestyle, Australians seem to be shifting towards a more flexible pattern of eating at times that are convenient, bringing about a wave of changes in the snacking industry.
Consumers are increasingly aware of the negative effects of sugar, salt and fat on health, driving investment in healthier snacks across Western Europe. However, with obesity levels remaining high, government regulation stands to have a sudden, radical impact on the industry, notably with the prospective implementation of HFSS legislation in England in October 2022.
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.
In this video, Industry experts Margaux Laine, Natalia Theofilopoulou, Aleksandras Bacevicius and Roland Szaki discuss how the pandemic has permanently changed the way consumers spend their time and money. Consumers are set to spend more time at home in comparison to post-COVID, impacting impulse purchase and physical shopping now threatened by the rise of pre-planned impulse and e-commerce sales. In the last 2 years, snacks players have developed solutions to address the increasing need for comforting and entertainment at home, and as such, answering the hometainment trend.
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.
In comparison with other packaged food categories, snacks was most affected by the pandemic. In this context, these are the six trends that are the most relevant in the industry: the rise of special diets, sugar reduction, hometainment, digitalisation, sustainability, and plant-based eating.