As I mentioned in my March Insights Blog, and before travel bans were implemented for most everyone, we had the pleasure of hosting Mintel’s Director of Innovation & Insight, Lynn Dornblaser, on the Tree Top campus. She shared with our team - “What’s happening in fruit” through the lens of trends and new product innovation in the U.S. and around the globe. Hear Lynn's four trends shaping food & drinks.
At the outset of 2020, the pet food market, like the rest of the U.S. economy, was humming along. According to Mintel, the U.S. has the highest per capita spending on pet food in the world and is the largest market by value. And while both the pet food segment and the overall food market remain bullish, consumer dynamics have shifted due to the COVID-19 pandemic, with disruptions to both work and school for most people. Does this mean consumers will alter their pet food spending habits? Will it change their preferences for clean label, natural ingredients and premium products?
Here’s a look at the overall pet care retail market. Packaged Facts estimates pet care retail sales will total $68.76 billion by 2024. And the company says to get there, retail sales, including pet food will increase at an estimated 4.7% combined annual growth rate.
New product experts Lynn Dornblaser and Morgan McClure from Mintel recently came to the Tree Top campus to give a trend presentation, which focused on the bar market. Thought I’d share some of their top-line insights on what’s influencing this category and what Mintel’s data shows as growth opportunities in the short-term and long-term. First here’s what to expect in the year ahead... READ MORE
Following food trends in the pet food segment is very much like following them on the human food side of the business. Overarching trends such as health & wellness, convenience, CBD, and clean labels are found across both segments. Clean label goes beyond label scrutiny and now embodies sustainability, ethical, safe food production, and transparent business practices. Let’s face it...READ MORE