Having emerged from strict pandemic-related restrictions in most markets, 2022’s expected shifts in staple foods expenditure were disrupted by surging inflationary pressures around the globe. These significantly worsened with Russia’s invasion of Ukraine. As populations continue to increase and climate change exacerbates production uncertainty, producers are navigating a post-pandemic landscape characterised by greater demand, greater costs and ever-greater challenges.
This report comes in PPT.
Functionality and preventative health gain relevance as consumers take an active role in their wellbeing, reinforced by their experience of the COVID-19 pandemic. Consumers seek to boost their immune system through their eating habits, and products with functional claims stand out as they have nutritional properties which contribute to improving nutritional deficiencies.
Alternative proteins and plant-based eating continue to grow driven by health and sustainability concerns. Innovation is very dynamic in this segment as companies experiment with different alternatives such as peas, insects and jackfruit, among others. The main companies are increasing their visibility in the market through partnerships with the foodservice channel, which will improve their market positioning.
Reducing the impact on the environment is key for consumers who support brands and products that are aligned with their values. In this sense, companies that include a strategy about reducing food waste are capturing consumers´ attention as they facilitate the reduction of their environmental footprint.
Consumers’ growing interest in locally-sourced products is producing greater transparency and simplification of the supply chain. Companies are innovating with the use of technology to improve tracking and traceability. This trend has been reinforced with COVID-19 as countries look for more self sufficiency to avoid food shortages and high freight costs.
New lifestyles that emerged with the pandemic have caused consumers to spend more time at home. Despite this, convenience continues to be key. Companies that have adapted to this new reality by offering products that recreate the restaurant experience at home and offer practical formats have remained relevant among consumers.
NOTE: Couscous, polenta and quinoa are excluded from staple foods.See All of Our Definitions
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