As global eyes turn again to China to monitor its current economic situation, understanding what is happening at the micro level can provide insights into how consumers are reacting to the current economic situation and how manufacturers and suppliers can best position their products to compete in this unprecedented environment.
With climate change influencing all consumer sectors, integrating sustainable practices becomes paramount for risk reduction and resilience building. Amidst this, phenomena like El Niño pose additional challenges, altering consumption patterns and sparking new demands, especially in Latin America.
Latin America is expected to finish 2023 with GDP growth of 1.7% and an inflation rate of 15.1%. The packaged food industry in the region is expected to finish with double-digit sales growth in value terms, but close to flat volume growth. In this context, Euromonitor International has examined the main drivers for food consumers in the region, identifying seven key factors.
Under pressure from climate change, rising populations, deglobalisation, and a more dangerous geopolitical landscape, food insecurity is shaping up to be a dominant challenge for the food industry in the next decade.
Private label products – retailers’ alternatives to brands – tend to benefit from inflation. However, despite record inflation in France, Germany and the UK, the market share of private label in the three countries remained broadly stable across FMCGs in 2022. This is changing in 2023. This briefing analyses the reasons for the lukewarm performance of private label in 2022, how 2023 is different, and outlines key steps to capitalise on the positive tailwinds to win in private label going forward.
Across various markets worldwide, plant-based and vegan labelled foods have become fixtures. While the term “vegan” is unambiguous and long-standing, the term “plant-based” has achieved popularity more recently. Euromonitor’s health and wellness data allow the state of play to be accurately accessed – are foods labelled “vegan” selling more or less than foods labelled “plant-based”?