Packaged Facts

Emerging from a dismal 2009, the catering industry is on the rebound. 2010 catering revenue reached $14.2 billion, a 9% increase from 2009

Expert trend trackers Packaged Facts and the Center for Culinary Development (CCD) predict the food and beverage trends that will be attracting adventurous diners and influencing product development in 2011.

Americans continue on their determined but multi-pronged quest for new eating experiences and meal-time solutions that mesh with their values and more sophisticated tastes.

Marketers and retailers of frozen foods have capitalized on recessionary conditions to offer consumers alternatives to expensive dinners out.

The 48 million Latinos in the United States now wield buying power in excess of $1 trillion and represent an increasingly important consumer segment.

Federal food programs and student loans are revenue bulwarks that have helped soften the recessionary blow on educational foodservice, as they have helped shield it from swoons in discretionary spending.

The effect government regulations have on consumers will determine the bottom line. However, Packaged Facts predicts key consumer behavioral trends will soften the blow.

Fierce competition in every sector for the breakfast dollar is pushing innovation in today’s breakfast foods, along with a number of key drivers.

Full-year 2010 retail sales of frozen convenience foods through all channels will reach $17 billion, reflecting a 2% gain over the previous year. From 2005 to 2009, sales grew by a modest CAGR of 3%.

The return of the more affluent, financially stable consumer is already influencing the full-service restaurant segment, which relies on a more affluent customer to pay their higher prices.