Packaged Food Market in the US with Forecast to 2024
NEW YORK, Feb. 11, 2020 /PRNewswire/ --
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EXECUTIVE SUMMARY
PACKAGED FOOD EVOLVES TO MEET CHANGING CONSUMER NEEDS
Catering to modern consumers can be a challenging task for packaged food players. For manufacturers and retailers, pressure to adapt and innovate comes in the form of changing dietary preferences, shifting ethical beliefs, the desire for new and unique eating experiences, and consumers' need for convenience.
PACKAGED FOOD REMAINS COLOURED BY DISRUPTION
Packaged food industry saw slightly stronger current value in 2019 in comparison to the review period CAGR but a modest decline from the growth achieved in 2018. This consistency in overall growth and seeming stability however belies the rapid disruptions and unpredictable transformations occurring throughout the industry.
COMPETITION IS FIERCE IN THE CHANGING PACKAGED FOOD LANDSCAPE
As consumer tastes shift and categories continue to evolve, one of the most important success factors in the packaged food competitive landscape is innovation. Legacy brands no longer hold the upper hand when it comes to consumer purchasing decisions.
INTERNET RETAILING LOOKS EVER MORE LIKE A LURKING GIANT
Packaged food continued in 2019 to be an industry dominated by sales through supermarkets and hypermarkets, a dynamic reflective of its high prevalence of mass market products and the heavy reliance US consumers have on these channels. The next largest channel, mixed retailers, also has a strong mass appeal.
STEADY INDUSTRY GROWTH PROJECTED, BUT POTENTIAL PITFALLS COULD MATERIALISE
Over the forecast period, US packaged food sales are projected to see slow but steady current value growth. The future performance of US packaged food should relatively closely follow population growth, with little growth in per capita expenditure on packaged food.
Overview
Discover the latest market trends and uncover sources of future market growth for the Packaged food industry in USA with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Packaged food industry in USA, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from the category reports in USA for free.
The Packaged food in USA market research report includes:
· Analysis of key supply-side and demand trends
· Detailed segmentation of international and local products
· Historic volumes and values, company and brand market shares
· Five-year forecasts of market trends and market growth
· Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
· What is the market size of Packaged food in USA?
· What are the major brands in USA?
· As economic prospects slowly improve, are consumers starting to eat out more and spending less time cooking at home?
· How is private label performing in the wake of retail consolidation and the global economic hangover?
· Do consumers want value for money or added value?
Why buy this report?
· Gain competitive intelligence about market leaders
· Track key industry trends, opportunities and threats
· Inform your marketing, brand, strategy and market development, sales and supply functions
Read the full report: https://www.reportlinker.com/p01188710/?utm_source=pnw
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