In-store bakery sales are on the rise—so much so, sales exceeded $13.54 billion in 2015 and the market is expected to reach $18.4 billion in sales by 2020, a 45% jump over the course of a decade.1 Confidence among retailers is high, with 56% of those surveyed reporting that they consider in-store bakeries a leading driver of traffic and an important point of differentiation for their stores and the way they market to consumers.2
Pumpkin spice sure is nice, signaling the start of the holiday season and boosting business for foodservice operators across America, where the love affair with the perennial fall flavor seems to pile up sales like so much foliage.
Given the insatiable millennial appetite for exciting new flavor experiences and interesting twists on traditional favorites, a fresh idea in ice cream should be milked for all it’s worth—and it could be worth a lot. According to the International Dairy Foods Association (IDFA), about 1.54 billion gallons of ice cream and related frozen desserts were produced in 2015 alone, and the average American consumes more than 23 pounds of ice cream yearly.1
Convenience stores seem made to order for the age of grab-and-go. Having nearly doubled in size over the last three decades, with 154,535 stores in the U.S. at the end of 2016, the industry is a juggernaut of sales revenue and opportunity.1
"Consumers today, especially millennials, are eager to spread the word about new dessert experiences."
As consumer demand for speed and convenience continues to drive such snack trends as grab-and-go and takeout and delivery, the destination seems to become increasingly clear: more snacks, less fuss. Consumers are snacking more and more, but want to do less and less. Nearly half of Americans snack two to three times a day,1 and 94% snack at least once daily.2 The millennial need for speed compels foodservice operators to pick up the pace when it comes to satisfying snack yearnings that cross dayparts.
America is the land of the free and the home of the snackers, where snacking has undergone such explosive growth that nearly half the country consumes two to three snacks daily.1 According to research from NPD Group, millennials and baby boomers snacked a combined total of 173.5 billion times in 2015 alone.1
With such a spectacular, ooh-and-ahh-worthy display of consumption, it makes sense for foodservice operators to explore the consumer segments that have made snacking so prevalent it has started to replace traditional meals, as shown by the steady rise of on-the-go breakfast bars.1 SmartBrief reports that snack bar sales skyrocketed nearly 50% between 2014 and 2016, helping to give rise to the trend of high-protein meat- or seed-based snack sticks—part of the larger trend of portable foods with better-for-you appeal.2
A case in point is the Asia Pacific region. In the second offering of Food Industry Asia’s Lunch Series held in Singapore last year, global market intelligence agency Mintel identified four overarching trends that it anticipates will help drive food and drink consumption in the region in the coming years.1 Gleaned from the work of more than 100 Mintel analysts with a global reach across the food, drink and foodservice industries, the trends were parsed in a presentation by Avanthi Ravindran, senior trend and innovation consultant at Mintel South-East Asia and India.1
More and more restaurant operations are serving up loyalty programs to help drive sales and build customer loyalty.1 As technology-driven innovations such as app-enabled takeout transform the foodservice industry, restaurant loyalty programs are experiencing a surge in popularity worldwide.1
In a poll last year of 6,500 internet users in eight countries, multinational computer technology company Oracle found that 65% of respondents in the U.S. belonged to foodservice loyalty programs.1 The popularity of such programs was highest in respondents from the States, with Brazil (64%) and Mexico (62%) close behind.1 In Great Britain and Australia, more than half of consumers surveyed said they were foodservice loyalty program members.1
"Today's consumers are willing to experiment with new dessert flavors and ingredients, but foodservice operators should optimize their assortments with trusted brand names and familiar products."