Frugal behaviours to impact food trends
By Canadian Pizza
By Canadian Pizza
January 28, 2010, New York, NY – A new study predicts that the frugal behaviours adopted during the recession are becoming ingrained and reflect a new standard concerning consumer dining and eating trends.
According to Food Flavours and Ingredients Outlook 2010 published by Packaged Facts, what constitutes value is being redefined, and consumers are making different choices than in years past.
"The outlook for 2010 is best viewed with guarded optimism. Consumer food and beverage choices will reflect the latest social and demographic trends, while also continuing to show financial restraint when it comes to where consumers shop for food and drink, where they dine, and the item and meal selections they make," says Don Montuori of Packaged Facts.
Retailers, manufacturers and foodservice operators are expected to continue to appeal to lingering thriftiness, capitalizing on recession-induced developments such as the surge in popularity of food trucks, which several high-end restaurants have used to introduce less expensive versions of existing menu items. Meanwhile, the prevailing barrage of dining deals, dollar and value menus, and a sense that everything is on sale will likely continue at least until unemployment rates decline and the housing market shows significant signs of recovery late in 2010 or into 2011.
Packaged Facts predicts that one of the more enduring trends coming out of the recession will be simplification. In the coming year, more food and beverage manufacturers are expected to jump on the product reformulation bandwagon, offering new products with a reduced number of ingredients. Marketing messages will convey that products are healthier, fresher, more natural, and better tasting.