U.S. Food Market Outlook 2020: Home Cooking, Grocery Shopping, & Food Trends in the Age of Coronavirus

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Published Jun 10, 2020 | 342 Pages | Pub ID: LA16263289
U.S. Food Market Outlook 2020: Home Cooking, Grocery Shopping, & Food Trends in the Age of Coronavirus

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Most packaged food categories are mature and rely primarily on population growth, leaving food marketers with the challenge of bringing something new to the table. Opportunities abound for companies that invest in new product launches, ingredient changes, and different marketing tactics to appeal to changing consumer preferences.

The COVID-19 pandemic has led to sharply increased demand for food in the retail sector as consumption has been shifted from the foodservice industry (including cafeterias in schools and restaurants) to the home. As a result, demand on the retail side has increased to balance losses in the foodservice market as consumers shift their food spending to more at-home preparation and consumption.

With a focus on “what’s next” – along with bringing decades of food and beverage market perspective and analysis to the table – U.S. Food Market Outlook 2020: Home Cooking, Grocery Shopping, & Food Trends in the Age of Coronavirus is packed with insights about consumer trends, behavior, and motivations. This report delivers actionable predictions and recommendations designed to guide retailers, service providers, wholesalers, food processors, packaging firms, and investors in making business decisions about the food market.

Scope

Combining Packaged Facts’ extensive monitoring of the food and beverage market with proprietary surveys, U.S. Food Market Outlook 2020: Home Cooking, Grocery Shopping, & Food Trends in the Age of Coronavirus is the go-to source for a complete understanding of the U.S. food market. This broad-based report evaluates current trends and future directions for marketing and retailing, along with consumer patterns across the food market. U.S. Food Market Outlook 2020: Home Cooking, Grocery Shopping, & Food Trends in the Age of Coronavirus examines product availability; surveys retail channel trends; and analyzes consumer trends and motivations. This report focuses on the market for selected food products sold to consumers in the United States through retail channels. All retail channels of distribution are covered in market sizing and discussion, including supermarkets and grocery stores, mass merchandisers and supercenters, warehouse clubs, natural food stores, convenience stores, drugstores, dollar stores, and direct-sales channels including online. Market size data and projections are provided at the retail sales level for 2014-2019 and 2019-2024, with channel and marketer shares figures for 2019.

Report Methodology

The information contained in U.S. Food Market Outlook 2020: Home Cooking, Grocery Shopping, & Food Trends in the Age of Coronavirus was developed from primary and secondary research sources. Primary research includes national online consumer polls of U.S. adult consumers (age 18+) conducted on an ongoing basis by Packaged Facts to analyze purchasing patterns and attitudes with regard to food and beverage preferences. Supplementing Packaged Facts’ exclusive survey is an extensive analysis of Simmons’ National Consumer Study, which is based on approximately 25,000 adult respondents surveyed annually. This report contains dozens of numerical tables and charts, as well as numerous product photographs. Primary research also includes interviews with food and beverage market experts; participation in and attendance at food industry events; and extensive internet canvassing. Secondary research entailed gathering data from relevant trade, business, and government sources, as well as company promotional literature and annual reports. Our estimates of market size and company performance are based on various sources including reported revenues of product manufacturers and retailers, relevant publications, and other market research sources. The analysis in this report also draws, as a background source, on retail sales tracking data from mass market and specialty channels.

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