Consumers are contending with inflation by changing their food buying behavior, and the packaged food industry should focus their efforts on keeping customers without sacrificing medium- and long-term profits, according to consultants and market researchers.
While still rising, grocery prices appear to be cooling while those at restaurants are stabilizing – reinforcing industry leaders’ optimism that input costs are cresting and the macro environment is beginning to stabilize.
Priority is given to products that offer genuine sensory appeal – providing new and experimental flavours, as well as those associated with comfort, familiarity and simplicity.
While supermarkets remain the go-to for most grocery shoppers, rising food and gas prices due to inflation are pushing more consumers to mass, club and dollar stores as they look for ways to rein in spending and reduce trips, according to market research...
According to Puratos’ latest Taste Tomorrow results, health and habitat are the UK consumer’s two biggest priorities when it comes to choosing what brands to buy.
Shoppers around the globe are feeling the pressure of runaway inflation – to the point where some are even foregoing heat to eat – however, that doesn’t mean they’re prepared to give up quality for a bargain.
Burton’s Biscuit Company is launching two limited-edition variants of its Fish ‘n’ Chips brand – and asking UK consumers to decide which becomes a permanent part of the range.
Bread prices are at their lowest level for eight years and are continuing to put pressure on bakery industry margins, according to Kingsmill brand owner Associated British Foods (ABF).
BASF has announced immediate price increases in Europe, Africa and Western Asia for some resins and powders for the packaging, coating and printing industries.
A continued rise in raw material costs will hit lower first half earnings, says bakery ingredients giant CSM in a trading update, with price hikes not enough to offset the surge.
Mondi said growth in demand coupled with higher prices for its products and strong performance from its restructured operations all contributed to a 73 per cent leap in its full year operating profits.
Rank Hovis is to increase the price of flour by £89.37 per tonne, effective 6 September, Lawrence Watson, head of sales and marketing, revealed exclusively to our sister publication British Baker earlier this week.
Huhtamaki has posted improved year-on-year figures for the first half of 2010 as it predicted better returns in H2 despite continued uncertainties in the market.
Bread sales are expected to be resilient against the economic downturn as consumers still see it as a good value food, according to the director of a bakers’ association.
Paper and plastic packaging supplier, Pactive Corporation, said that its third quarter (Q3) income from overall operations was $53m (€41m) - down $6m (€4.6m) on last year - reflecting higher raw material, energy, logistic and operating costs.
FMC Biopolymer will again increase prices for its food ingredients
on the back of high energy and raw material costs, and the company
says it expects prices to continue rising.
Food and beverage companies can expect declining prices for
processing equipment to continue for another three years, according
to a study by Frost & Sullivan.
As prices for hazelnuts, two-thirds of which are sourced from
Turkey, slowly start to recover following global shortages,
pistachio production also shows signs of improvement following last
year's frosts.
ConAgra Foods has blamed higher pork and beef costs and the
company's failure to compensate by raising prices sufficiently as
the main reasons for lowering its profits forecast by about
one-third for the fiscal fourth quarter...
General Mills is the latest food manufacturer to report a decline
in net profit this year, and again the blame goes on raw material
price hikes and fierce competition in the retail sector writes
Anthony Fletcher.
