Updated: Aug 24, 2021
The US food market is experiencing a downward trend in 2018. The total sales of the US food industry, including supermarkets and grocery stores, convenience stores (limited scope), specialty stores, and online retailers, will decline by 0.1~0.4% in 2018-2019 from 2017 levels. In 2021, the food market in the United States is predicted to reach $633 billion, the US food market will face recovery and will resume its development. Sales of products will be stabilizing, but companies will still need to face fierce price competition as well as an increasing number of substitutes. This is a good time for businesses to win back consumers' trust with personalized products and services. We believe that many US consumers will be gradually applying healthier eating habits, which can give a lot of opportunities to food companies. This report on the 2021 US food market provides an in-depth look at the competition status and prospects of key players in the industry, including key financial data and information on proprietary technology.
The US food industry generates more than $1 trillion in sales and is a huge market. It is commonly believed that the US food market has no room for growth. However, consumers are increasingly turning away from foods with undesirable ingredients. As a result, there will be cultivated products appearing on consumer's tables. Vegetables and fruits are increasingly becoming popular in markets and food service industries as people become more health-conscious. The demand for convenience foods such as canned and frozen foods will also increase. For the next five years, we’ll see consumers shift their concerns toward food safety. With the COVID-19 epidemic, people will be more aware of food-related health risks. Consumers are beginning the shift their concerns towards food safety. With numerous outbreaks related to unsafe food, consumers are becoming much more aware of the health risks.
The spread of COVID-19 has made food more difficult to develop, requiring food manufacturers to meet hygiene and safety standards from raw materials to packaging. Food manufacturers face mounting pressure to comply with tight regulations in the food industry. The emergence of new pathogens, the potentially deadly strain of COVID-19, has added to the complexity of maintaining good manufacturing practices.
The United States is amid the COVID-19 pandemic, and many food manufacturers have to invest more money in the hygiene and safety of production. Food safety, quality, and hygiene are becoming increasingly important to consumers, both in terms of fresh processed foods and ingredients. These challenges mean that US food manufacturers will need to adopt new strategies for ensuring product safety and quality, at the same time strengthening their product branding. A new technique for labeling is emerging with what we call “fine print” on labels - the “traceability code” serves as a label within a label. Consumers are using QR code scanners to quickly gather information about the products they buy.
Food safety is one of the most important issues in the food industry. To prevent COVID-19 and other potential pathogens, everything from raw materials to packaging should undergo nucleic acid testing to ensure the absolute safety of food. However, if nucleic acid detection is performed in each step, the cost will become very high.
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