Rockville, MD -- April 27, 2023 – Packaged Facts, a leading provider of consumer-oriented market research and analysis, today announced the launch of its new report US Food Market Outlook 2023: Inflation, Sustainability, Convenience, & Other Food Trends. This report delivers predictions and recommendations designed to guide retailers, service providers, wholesalers, food processors, packaging firms, and investors in making business decisions about the food market.
“The US food market is facing a number of challenges in 2023, including rising inflation, supply chain disruptions, and labor shortages,” said Jennifer Christ, Food & Beverage Research Manager at Packaged Facts. “However, there are also a number of opportunities for food marketers, including the growing demand for sustainable and convenient foods.”
The report finds that inflation is a major concern for US consumers, with prices for food and beverages rising at their fastest pace in decades through 2022 and continuing to rise in 2023. According to Ms. Mapes, “This is putting a strain on household budgets and leading consumers to seek out more affordable options, from buying private label versions to shopping at discount grocers, or even seeking alternatives to products they used to buy whether it was trading to more affordable cuts of meat or seeking egg-free options for baking.”
Supply chain disruptions continue to have a major impact on the food market. However, in 2023, this comes more from global political challenges or severe storm activity or drought affecting agriculture output than COVID pandemic impacts. This leads to shortages of key ingredients and products and is driving up prices.
Despite these challenges, there are also a number of opportunities for food marketers in 2023. The report finds that consumers are increasingly interested in sustainable and convenient foods. Food shoppers are increasingly placing sustainability at a higher priority level again, with plant-based options, clean labels, sustainable supply chains, and recyclable and reduced packaging as key trends. Furthermore, shoppers are presenting preferences with contradictions as they are looking for indulgence, but better-for-you versions, and chef-inspired menus, but with convenient preparation. Food marketers to develop new products and services that meet these needs.
With a focus on growth opportunities and “what’s next” – along with bringing decades of food and beverage market perspective and analysis to the table – US Food Market Outlook 2023: Inflation, Sustainability, Convenience, & Other Food Trends is packed with actionable insights about consumer trends, behavior, and motivations. This report delivers predictions and recommendations designed to guide retailers, service providers, wholesalers, food processors, packaging firms, and investors in making business decisions about the food market.
US Food Market Outlook 2023: Inflation, Sustainability, Convenience, & Other Food Trends is available for purchase on the
Packaged Facts website.