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Canned/Preserved Food in USA
Euromonitor International, Nov 2006, Pages: 54
Our Canned/Preserved Food in the US market report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments, packaging innovations, economic/lifestyle influences, distribution or pricing issues. Forecasts illustrate how the market is set to change.
Why buy this report
-Get insight into trends in market performance
-Pinpoint growth sectors and identify factors driving change
-Identify market and brand leaders and understand the competitive environment
Product coverage: Canned/preserved beans; Canned/preserved fish/seafood; Canned/preserved fruit; Canned/preserved meat and meat products; Canned/preserved pasta; Canned/preserved ready meals; Canned/preserved soup; Canned/preserved tomatoes; Canned/preserved vegetables; Other canned/preserved food
Extract from Executive Summary:
Packaged food experiences modest growth in 2006
The US packaged food market is projected to grow modestly in value terms in 2006. Products offering convenience, such as prepared salads, frozen ready meals, and chilled soups, are expected to drive growth. Health claims are predicted to boost sales of olive oil and yoghurt. Despite high fuel prices, a weak housing market, and an environment of modest economic growth, consumers are continuing to purchase packaged foods that offer added convenience, even if they cost more.
Consumers seek out healthier alternatives...
American consumers are increasingly seeking out healthier food alternatives. The rise in obesity rates, as well as the ageing of the US population, has increased consumers’ interest in improving their health. Many Americans are seeking to change their diet and move to healthier foods, such as high-fibre and fat-reduced products. Whole grains continued to perform strongly in 2006 after getting a sales boost in 2005, when the US Department of Agriculture urged Americans to eat three servings or more of whole grains daily in The 2005 Dietary Guidelines and the new “MyPyramid.gov” food guide. Consumers also warmly embraced organics and products offering portion control. Organic products continued their strong growth in 2006, as Americans willingly paid higher prices to avoid artificial growth hormones, antibiotics and pesticides. Items offering portion control, such as Kraft 100 Calorie Packs, performed well, as these products offer a guilt-free way to partake of favourite foods, such as Oreo cookies.
...but still embrace convenience...
Convenience remains one of the most important attributes for consumers. While seeking out health and delicious flavours, Americans want an easy to prepare meal solution. Items such as frozen ready meals and prepared salads allow consumers to eat entrees and salads without the need to wash, cut and cook vegetables, whilst products such as drinkable yoghurt allow consumers to eat healthfully and obtain nutrients, such as calcium, while also being convenient and portable at the same time.
...and indulgence
There is a move towards high quality premium or luxury food, such as premium chocolates, artisanal cheeses, small-batch sauces, and artisan-style bread. The expansion of Starbucks coffee shops has prompted many consumers to trade up to premium coffees. The Starbucks factor, combined with the celebrity chef phenomenon and the expansion of Whole Foods Market, has led many consumers to trade up to premium foods. Food shows on the Food Network, PBS (Public Broadcasting System), and Bravo (“Top Chef”) have created a nation of “foodies”: consumers with sophisticated tastes who seek out the best.
Private label becomes more premium
In a bid to increase their margins and promote customer loyalty, retailers are introducing more premium private label products. Unlike the private label brands of yesteryear, some of the latest private label products aim to exceed the quality of national branded counterparts. Supermarket chain Trader Joe’s, which sells mainly private label products, has been very successful in marketing its products as unique and great tasting by crafting interesting stories about the origin of some of its products. Trader Joe’s offers private label products, such as its single-origin, premium dark chocolate, at less than premium prices. Safeway introduced the O Organics line in December 2005 to attract upscale consumers of organic foods. Supermarket chain A&P introduced upscale products such as a Food Emporium-branded US$30 bottle of balsamic vinegar in summer 2006.
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