November 27, 2023
(press release)
–
Cleveland OH, November 21, 2023 — US demand for processed food is forecast to see annual gains of 1.0% in nominal terms through 2027, according to Food Processing: United States, a report recently released by Freedonia Focus Reports. Declines are expected in 2023, as prices fall and supply constraints, such as those caused by the bird flu epidemic and the COVID-19 pandemic, ease. Forecast decreases in 2023 largely reflect a return to pre-pandemic levels in the meat, poultry, and seafood segment. After 2023, the market for processed food is projected to expand as disposable personal income advances 4.6% annually through 2027, in addition to 0.6% annual population growth. Furthermore, consumers will pay a premium for products that require little or no preparation and are considered healthy or natural (i.e., organic, few ingredients, no chemicals, or antibiotics). Therefore, purchasing of higher-value foods is expected to support demand growth. Demand for sugar and confectionery products is expected to rise 3.3% annually through 2027 – the fastest growing discrete segment. Population growth – coupled with the integral nature of candy in annual celebrations such as Halloween – will support advances. In addition, producers stand to benefit from heightened demand for premium products, such as organic, small-batch chocolate, especially as disposable personal incomes rise. These and other key insights are featured in Food Processing: United States. This report forecasts annually to 2027 US processed food demand and shipments in nominal US dollars at the manufacturer level. Total demand and shipments are segmented by product in terms of: meat, poultry, and seafood dairy products grains and oilseeds bakery and related products processed fruits and vegetables animal food sugar and confectionary products other processed foods, such as condiments and sauces, dry coffee and tea, egg substitutes, frozen specialty foods, peanut butter, roasted nuts, and spices To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series for 2012-2022. Excluded from the scope of this report are ready-to-drink beverages such as bottled water, carbonated soft drinks, and fluid milk; beverage syrups; and unprocessed foods such as fresh fruits, vegetables, and eggs. Artificial sweeteners such as aspartame, stevia, and sucralose are excluded from this report. Also excluded are flavoring syrups and concentrates for soft drink production. Inedible byproducts of animal slaughtering, such as bones and hides, are not included in demand or shipment totals for meat, poultry, and seafood products. Re-exports of processed food are excluded from demand and trade figures. More information about the report is available at: total historical market size and industry output segmentation by products and markets identification of market drivers, constraints, and key indicators segment-by-segment outlook in five-year forecasts a survey of the supply base suggested resources for further study
https://www.freedoniagroup.com/freedonia-focus/food-processing-united-states-ff10024.htm
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Food & Beverage reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
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