Voice of the Industry: Food and Nutrition

August 2023

This report forms part of Euromonitor’s Voice of the Industry series and features the results of a survey of professionals working in the Packaged and Fresh Food industries. It examines their opinions regarding short-, medium- and long-term developments and market trends in a post-pandemic world facing strong economic challenges.

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This report comes in PPT.

Key Findings

Top findings from Euromonitor International’s Voice of the Industry: Food and Nutrition Survey 2023 include:

According to professionals in the food and nutrition industry, the supply disruptions and inflation effects were the most significant factor affecting food sales in 2022 while health and wellness is set to gain particular importance over the forecast period.

The majority of industry professionals believe that 2023 and 2027 (relative to 2022) will see growth across retail value sales of the total food industry.

Sales of private label/value for money ranges are expected to increase in 2023 given the strong inflationary pressures.

E-commerce is expected to maintain its positive performance and continue gaining share across the forecast period.

Most food spending in away-from-home channels has already returned to pre-pandemic levels according to most industry professionals. The lifting of COVID restrictions in many parts of the world led to more confidence going and eating out or what has been coined “revenge dining”.

Voice of the Industry: Food and Nutrition snapshot
Respondents’ focus areas
Supply disruptions and inflation effects are most important for 2022
Digital and technological shifts are expected to gain particular importance in the future
Optimistic view for total food industry sales in the forecast
Growth in private label reflects the measures taken to mitigate high costs
Dynamic growth expected for e-commerce and discounter channels
Most food spending at away-from-home channels has already returned in 2022
Revenge dining drives food spending at away-from-home channels
Morinaga & Co sells cracked Moonlight plain biscuits to promote reduction of food loss
Kenar Greenline is getting more sustainable and closer to the growing vegan community
Campbell Soup leverages AI to develop new products
Key summary
About Euromonitor International’s Voice of the Industry survey series


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