Articles Tagged with ''consumer trends''

According to the IFIC survey, one-third of Americans (33%) reported changing their LNCS consumption habit between April 2023 and April 2024. While 10% said they increased LNCS consumption and 6% said they started consuming LNCS, 11% said they decreased LNCS consumption and 6% said they stopped consuming LNCS altogether.

Comprising 20 experts from diverse segments of the culinary world, the SFA Trendspotters track emerging specialty food and beverage products in their own work and at the bi-annual SFA Fancy Food Shows, thereby getting an early look at the flavors, formats, and ideas that will hit mainstream retailers and restaurants sooner than later.

These reports highlight that Hispanics now make up 20% of the US population and account for 71% of national population growth between 2022 and 2023. More than 25% of Gen Z and Gen Alpha identify as Hispanic, demonstrating the long-term potential of this powerful consumer group.

“Consumers are looking for wellness across every aspect of their lives, and food and beverages are playing a critical role in this transformation,” said Sally Lyons Wyatt, global executive vice president and chief advisor at Circana. 

As inflation slowly moderates, US consumers continue to feel the pinch of higher food costs. Value retailers are seeing more foot traffic as shoppers shift to store brands and cut back on non-food expenses. According to Circana, formerly IRI and The NPD Group, consumers are looking for ways to make their budgets stretch, from canceling subscriptions to favoring at-home meals over dining out.

More than half of all participants in a recent survey report actively reducing their sugar consumption. US consumers also try to limit or reduce purchases of high sugar ingredients. Interestingly, consumers are unwilling to give up indulgences and they also look for healthier versions of indulgent foods.

Consumers continue to say their primary store for purchasing food does an excellent job of meeting their needs, with 79% of shoppers reporting that getting a “good value” when grocery shopping is their top priority. 

The ambiguity continues as half of Americans also do not know how much sodium they consume each day. When asked about their personal daily sodium consumption, 48% of Americans say they simply “don’t know,” while estimates vary widely for the other 52%.

The 2024 IFIC Food & Health Survey covers a wide range of topics from farm to fork, including food production, food safety, eating patterns and diets, specific food or beverage ingredients as well as consumers’ relationship with food, purchase drivers, and trust in information sources.

“Our annual research definitively shows that sustainable products thrive regardless of inflation and present continued opportunities to compete for market share amid the rise of store brands,” said Randi Kronthal-Sacco, Senior Scholar at the NYU Stern Center for Sustainable Business.