Weekly Roundup – Week of 6.10.24
June 14, 2024
Explore top retail and foodservice news and insights from this week – all curated by our team of strategists and food enthusiasts:
Finding Value: Grocery Shopper Trends From FMI
In this week’s episode of The Insatiable Appetite podcast, Steve Markenson from FMI delves into the latest U.S. Grocery Shopper Trends report, examining how consumer habits are changing amidst inflation, factors influencing store variety, and how perceptions of value are evolving. Despite the growth of online shopping, the majority of grocery shopping still occurs in-store, emphasizing the importance of the in-store experience and brand/product selection. Listen Now.
Plant-Based Meets Quick Service
Fast food chains are embracing plant-based options to cater to a growing number of plant-forward consumers. The ease of incorporating plant-based ingredients, along with menu variety, automation in preparation, and affordability, has led to success for these quick-service restaurants (QSRs). According to survey data from Q1 2024 by Brightfield Group, five chains are at the forefront of this trend.
The Frozen Food Category Is Positioned For Growth
The Frozen IQ conference, hosted jointly by the American Frozen Food Institute (AFFI) and The Food Industry Association (FMI), spanned two days and covered an array of crucial topics shaping the future of the frozen food industry. From discussions on cutting-edge technologies to shifts in consumer preferences, the conference provided valuable insights, including perspectives on the effects of rising grocery expenses, the expanding presence of private-label products, the surge in premium offerings, and much more. Read Article.
Are Prebiotic Sodas Here To Stay?
The surge in U.S. sales of prebiotic brands, totaling over $100 million across roughly twelve brands, marks a notable shift in consumer preferences, as reported by Beverage Marketing Corp. The latest sensation, Prebiotic sodas, captivates consumers despite the veil of mystery behind their ingredients. However, their perception as a healthier choice, primarily in gut health, lies in a debate among experts regarding their true nutritional effectiveness. Tom Pirko, president of Bevmark, voices concerns about consumer awareness, stating that the complexity of these drinks often goes unnoticed in an era dominated by fleeting attention spans. Read On.
Refreshing New Products To Watch
Introducing two exciting newcomers shaking up the iced coffee and beer categories. J.M. Smucker’s Café Bustelo breaks into the refrigerated aisle with their Espresso Style Iced Coffee Beverages, offering vanilla, unsweetened, and sweetened options in a convenient 40 fluid-ounce multi-serve bottle. With millennials and Gen Z driving the exploration of new coffee flavors, the iced coffee market is booming, poised to skyrocket from under $500 million in 2022 to a staggering $3.11 billion by 2030.
Meanwhile, NFL stars and University of Cincinnati alums Jason and Travis Kelce are making touchdowns with their latest venture, Garage Beer. The Kelce brothers announced their significant investment and partnership in the popular Greater Cincinnati beer brand, taking on roles in all aspects of operations, from brewing to marketing and expansion.
Keep an eye on these refreshing innovations as they redefine their respective categories!
Happy Father’s Day to all you hard-working, incredible dads who continue to balance work and family life. Cheers to you this weekend!
Make sure to stop back and read our Weekly Roundup every Friday to stay on top of the latest industry news and trends!
