March 2024

Check out the March 2024 issue of Prepared Foods, featuring our 2024 State of the Industry New Products Annual, which looks at innovative food and beverage products across all categories.

Birds Eye View of People Eating at Table

STATE OF THE INDUSTRY

Food and Beverage Innovation Meets Improving Economy, Consumer Optimism

Focused trend topics include plant-based products, natural and organic products, sugar reduction, added protein, immunity, and sustainability

Robert Garrison

March 14, 2024

Just in time for Thanksgiving and the holidays—came news for which food and beverage processors could be thankful. Circana (formerly IRI) and The NPD Group released a 2024 food and beverage outlook with a projection of modest volume growth this year after three consecutive years of volume declines.

STATE OF THE INDUSTRY 2024

Snacks Serve Consumers as the ‘Fourth Meal’

Americans ingest between 400 and 500 calories a day from snacks, which is more than the typical breakfast

Tom Vierhile

April 3, 2024

The top snacking drivers are to “prevent feeling hungry” followed by “rewarding oneself” according to Innova Market Insights’ 2023 Snacking & Healthy Snacking survey.

Bottle of Dressing Being Poured onto Salad

STATE OF THE INDUSTRY 2024

Sauces and Dressing Products Turn Up the Flavor in 2024

Flavor-focused consumers keep turning to sauces, spreads and dressings for mealtime adventure

Tom Vierhile

March 27, 2024

The good news for sauce, dressing, and marinade makers is that their category tends to be the top destination for consumers seeking to experiment with flavors.

STATE OF THE INDUSTRY 2024

Dairy Formulators Highlight Comfort, Health in New Innovations

Consumption across all categories of dairy products surpassed 650 pounds per person annually, with cheese consumption at a record high

David Feder , RDN

March 26, 2024

Negative farm-level margins in mid-2023, along with some adverse weather, pulled US milk production below year-ago levels and dairy farmers have been reducing the size of their herds. US milk production in 2024 is expected to increase 0.8%, with most of the growth coming in the second half.

STATE OF THE INDUSTRY 2024

Growth Opportunities Abound in Cereals and Bars Category

Breakfast cereals, snack bars keep innovating, angling for consumer share of stomach

Tom Vierhile

March 20, 2024

Trends and innovations that took place in the cereals and bars market for 2023, and what formulators can look for going into 2024.

Man Serving Prepared Meal to Wife and Daughter at Home

STATE OF THE INDUSTRY 2024

How Prepared Meals and Entrées Are Saving Consumers Time, Money

Robert Garrison

March 18, 2024

Frozen meals and entrees continue to attract newcomers with ethnic and regional flavors, health-minded options, and plant-based offerings

STATE OF THE INDUSTRY 2024

Pizza Trends to Watch for in 2024

More to Reach For: Pizza processors use culinary creativity to transform taste, texture and appeal with an on-trend meal

Robert Garrison

March 15, 2024

The pizza category is seeing leaders embrace new toppings and crusts, along with processors—from dramatically different categories—breaking into pizza with new offerings.

STATE OF THE INDUSTRY 2024

How to Innovate Baked Goods in 2024

Bakers leverage new products to boost fun, flavor and functional health

Tom Vierhile

March 13, 2024

2023 was a solid year for cookies and bread with launches up 6% and 5%, respectively. New cakes, pastry and sweet good introductions also were in the plus column, up 2.7% for the year. Baking ingredients and mixes posted a 1.6% decline in launches while cracker introductions dipped 4.8% in 2023.