As we journey through 2023 and beyond, the US food industry faces new challenges and opportunities.
A Just Food article highlights the main issues facing food industry executives and some key trends to keep an eye on. These include:
– Inflation: Expect continued moderation, but inflation isn’t going away anytime soon.
– Food-away-from-home sales: This service will exert a much more competitive force on brands doing business in grocery retail.
– DIY Strategies: Most companies will focus more on line and brand extensions and launching their own brands rather than making acquisitions.
– Consolidation trends: Some of the major companies will continue to merge and acquire other businesses.
– Plant-based meat returns to being a niche product rather than a mainstream one: This food category will largely return to being merchandised as it has been for decades.
What other trends in the US food industry are you watching in 2023?