In-person sales of supermarkets have decreased due to an increasingly price-sensitive consumer preferring small local grocers and discounters. Moreover, e-commerce has consolidated as a key channel in the industry, regardless of the age of the consumers. Finally, functionality and sustainability are set to be key factors over the forecast period as producers invest in carbon neutrality and reducing food waste, while consumers shift their preferences towards healthier products.
This report comes in PPT.
Small local grocers have experienced an important boost in their performances. Offline retail has been driven by convenience and comfort, and growth has been particularly evident in emerging economies.
Mainly driven by the baby food category, the retail e-commerce channel has been able to maintain double-digit growth rates in the dairy products and alternatives industry, despite the slowdown it has experienced after its peak during the pandemic.
Producers are continuously innovating and improving their sustainability long-term credentials, mostly based on carbon neutrality and food waste. Moreover, health awareness is a trend that has consolidated as a key factor when choosing dairy products, mostly driven by functionality.
The world has been experiencing increasing price levels and, as a consequence, consumers have become increasingly price sensitive. This situation has created an interesting landscape for discounters, as they offer consumers a more affordable portfolio of products.
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