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Voice of the Industry: Food and Nutrition

September 2022

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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Key Findings

Top findings from Euromonitor International’s Packaged Food Voice of the Industry survey include:

According to professionals in the Food and Nutrition industry, the COVID-19 pandemic will continue to have a positive impact on retail sales through 2021.

A key driver will remain the negative impact on foodservice and out-of-home eating, with most industry professionals believing that a return to the pre-pandemic ‘normal’ will not occur until 2022/23.

Further emphasising the lasting impact of the pandemic, three in four industry professionals believe the health and wellness food trend will be very/extremely influential through to 2025.

Private label/value-for-money ranges are thought to have done very well across 2019/20; half of industry professionals estimate 11-20% growth at the total food sales level.

The respondents also believe that the online channel will continue to grow in influence. Around a third across each region consider online sales growth above 30% most likely for the full-year 2021, and approximately two-thirds believe the channel will account for over 20% of global sales in 2025.

While they forecast growth for packaged food sales through to 2025, professionals are cautious regarding the size of increase. Fresh food predictions tend to be stronger, however.

Scope
Voice of the Industry: Food and Nutrition snapshot
Respondents’ focus areas
Supply chain crisis judged the most influential food trend for 2021
Digital and technology shifts are expected to gain particular importance in future
Positive retail value sales growth is forecast for 2022 across all regions
Fresh food and cooking ingredients and meals to benefit the most until 2026
Private label expected to continue growing as inflation threatens consumers’ spending
E-commerce and discounters estimated to have recorded the fastest growth in 2021
E-commerce is expected to gain significant shares over other distribution channels by 2026
Majority expect food spending at away-from-home channels to fully recover in 2023
Univerexport facilitates dynamic pricing by introducing electronic shelf labels in Serbia
Convenience and personalised nutrition drive companies towards Marvin’s Den app
Yakult targets consumers who are increasingly seeking mental wellbeing in Japan
Creative collaboration results in ice cream made of surplus bread in Denmark
Key summary
About Euromonitor International’s Voice of the Industry survey series
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