The initiative gathers insights from retail food executives related to innovations, market trends, and breaking issues, analyzes the results and reports back to those industry leaders in aggregate

SEG’s new Know & Love line builds upon the grocer’s commitment to provide its customers with quality products and services that stretch their wallets. 

The specialty market is composed of 63 food and beverage categories which combined account for nearly 22% of retail food and beverage sales. 

This year’s recipients, who are being honored for their contributions throughout 2022, include brands ranging from two to 28 years on Whole Foods Market’s shelves. The awards, now in their 11th year, were previously called Supplier of the Year Awards.

The 2022 New Product Pacesetters achieved a staggering $6.8 billion in combined year-one sales across food, beverage and nonfood solutions, compared to $6 billion in 2021 Pacesetter sales.

Ready to start making your new product? If you’ve passed your initial formulation hurdles, you’re ready to think about where to sell the item, an initial volume and how the food will be safely processed and packaged. Possibilities include a home kitchen, a commercial kitchen or co-manufacturing plant, just to name a few.

The survey-based report out of Purdue University’s Center for Food Demand Analysis and Sustainability assesses food spending, consumer satisfaction and values, support of agricultural and food policies, and trust in information sources. Purdue experts conducted and evaluated the survey, which included 1,200 consumers across the US.

Gen Z consumers are trend creators who define what markets should be provide. They welcome positive engagement with companies and seek new experiences.

With more than 100,000 internet searches per month for “vegan recipes” and “vegetarian recipes”, it’s clear there is high demand for plant-based meals. The survey found that 52% of adults are vegan-curious and illustrated consumers’ desire for time-saving solutions to preparing plant-forward dishes. In fact, 56% of adults said they want shortcuts to plant-based meals. 

Whether you pour it, spread it, slice it or spoon it—plant-based dairy options are making inroads in consumer kitchens. Retail 2021 data from the Good Food Institute and SPINS showed plant-based milk category sales at $2.6 billion alone with one- and three-year growth figures of 4% and 33% respectively. Moreover, plant-based milks enjoyed a 16% share of market two years ago and 42% share of household penetration.