Reviewing 2022 Consumer Trends and What’s to Come in 2023
Each year the world of food and beverage moves closer to a place we’ve never been. Our taste buds expand, more is expected from the industry, and new technology and innovation allow for a closer connection to the foods we love. Let’s look at the trends we saw in 2022 and what we expect to see in 2023.??
Plant-based meat and dairy alternatives?
The consumption of plant-based foods has become a lifestyle decision that is personal to each individual. More Americans are incorporating plant-based foods into their daily routines, and “flexitarian” has become common vocabulary, lending to the notion that plant-based diets have become a familiar lifestyle choice for many consumers.??
While generations such as baby boomers may be influenced toward plant-based eating because of health decisions, younger generations such as millennials and Gen Z consume plant-based foods as a socially conscious way of life.??
Convenience cooking?
Consumers are increasingly turning to convenience foods as time becomes pressed for meal prep. While schedules and routines have slowly returned in the past year, people are still looking for convenient yet exciting food options. Flexible work schedules have enabled up to 20 million U.S. employees to work from home, which keeps 62.5% of food spending focused on retail at-home sales(1). As people continue to cook at home with less time, we expect an increased demand for new, exciting, convenient meals. From frozen breakfasts to quick family meals at the table, consumers want a balance of quick and easy foods with fun and novel flavors.?
Inflation’s impact on private-label products?
In the midst of economic uncertainty, availability and affordability of products are driving the growth of private-label brands. As consumer costs rise, price is becoming a more important purchasing factor than brand name loyalty. More than 45% of customers buy private brands because of pricing(2), followed by availability, quality, and taste. Private-label products are allowing retailers to increase revenue and keep shelves stocked.??
?A taste of what 2023 may bring?
While last year’s consumer trends may continue to affect purchasing decisions, let’s look at what food trends we could see driving the market in 2023.?
The world at your taste buds?
U.S. consumers are getting adventurous with their tastes, and globally inspired foods offer opportunities for innovation. Consumers aren’t necessarily looking for authenticity in global cuisine but crave new experiences with their food. The National Restaurant Association predicts a rise of flavor and functional twists on traditional staples(3). This is an opportunity for food manufacturers to apply an exciting variation to consumer favorites.?
The bold flavors of Mexican food have long been embraced by consumers, and the Mexican food market is positioned to exhibit a compound annual growth rate (CAGR) of 6.65% through 2026. 58% of this growth will come from North America(4).
Protein snacks get creative?
The snacking trend has grown over the past several years, in part because of the growth of Gen Z and their life stage, which balances school, work, activities, and socialization. 77% of Gen Z reports snacking at least once a day, with 34% saying they snack two times per day(5). Snacks offer low-risk opportunities for consumers to try new food without investing in a meal, and the snack category is expanding in dried meat snacks, frozen foods, and meat trays.??
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It’s estimated that 90% of meat snack options are made from beef(6), but it’s protein snacks other than beef that are fueling innovation. Chicken snacks have become a growing option, as well as plant-based jerky snacks. The shifting consumer preference for bold and intense flavors has allowed innovation in the non-beef protein snack category to flourish.??
Demand growing for frozen breakfasts?
The lifestyle shift of many Americans working from home has contributed to the growing interest in frozen breakfast foods. In fact, the global frozen breakfast foods market is expected to grow by $1.9 billion during 2022-2026(7).??
Handheld frozen breakfast foods with a protein component are a popular choice(8). They offer consumers the convenience of preparedness and the opportunity to consume hearty protein to fuel their day. This is an opportunity for manufacturers to diversify their frozen breakfast products and offer new twists on familiar favorites or be adventurous with their flavor profiles.?
Sources
1 Consumers Eat More Meals at Home, Bargain Grocery Shop, Use Restaurants Less to Offset Rising Costs, Reports IRI and NPD. NPD. Retrieved January 4, 2023, from https://www.npd.com/news/press-releases/2022/consumers-eat-more-meals-at-home-bargain-grocery-shop-use-restaurants-less-to-offset-rising-costs-reports-iri-and-npd/
2 Why Private Label Brands Are Having Their Moment. Forbes. Retrieved January 4, 2023, from https://www.forbes.com/sites/errolschweizer/2022/06/30/why-store-brands-are-having-their-moment/?sh=622adaf838bf
3 ‘Experiences,’ local flavors seen as key food trends in 2023. Food Business News. Retrieved January 4, 2023, from https://www.foodbusinessnews.net/articles/22789-experiences-local-flavors-seen-as-key-food-trends-in-2023
4 USD 113.85 bn growth in Mexican Food Market from 2021 to 2026 | 58% of growth to originate from North America |17000+ Technavio Reports. Technavio. Retrieved January 4, 2023, from https://www.prnewswire.com/news-releases/usd-113-85-bn-growth-in-mexican-food-market-from-2021-to-2026--58-of-growth-to-originate-from-north-america-17000-technavio-reports-301433997.html
5 2022 Food and Health Survey Spotlight: Generation Z. Food Insight. Retrieved January 4, 2023, from https://foodinsight.org/spotlight-generation-z/
6 Chicken fueling meat snack innovation. Food Business News. Retrieved January 4, 2023, from https://www.foodbusinessnews.net/articles/22057-chicken-fueling-meat-snack-innovation
7 The Global Frozen Breakfast Foods Market is expected to grow by $ 1.90 bn during 2022-2026, accelerating at a CAGR of 7.69% during the forecast period. Report Linker. Retrieved January 4, 2023, from?https://www.globenewswire.com/news-release/2022/07/26/2486044/0/en/The-Global-Frozen-Breakfast-Foods-Market-is-expected-to-grow-by-1-90-bn-during-2022-2026-accelerating-at-a-CAGR-of-7-69-during-the-forecast-period.html#:~:text=filingsmedia%20partners-,The%20Global%20Frozen%20Breakfast%20Foods%20Market%20is%20expected%20to%20grow,7.69%25%20during%20the%20forecast%20period ?
8 Frozen Breakfast Solutions Remain Red Hot. Supermarket News. Retrieved January 4, 2023, from?https://www.supermarketnews.com/issues-trends/frozen-breakfast-solutions-remain-red-hot