The more than 80 million millennials in America are a force whose tastes are dramatically reshaping the future of food, faster than most businesses can adapt.
They are a generation that has grown up with food channels on TV, celebrity chefs and the 100-mile diet. In our recently released report, The Future of Food: Are You Ready for The Millennials?, we dig into the following:
- Millennial perceptions of food differ greatly from older Americans. They are more likely to expect features and benefits that have traditionally been seen as premium. Features like sustainable and local sourcing, organic and GMO-free are table stakes for millennials.
- Millennials are willing to pay more to get the ingredients they want. They see products with these types of ingredients as healthy, responsible choices that justify a higher price point.
- Millennials are fueling growth in the premium food market. The beneficiaries of this growth have largely been smaller manufacturers, while larger manufacturers have been slow to serve the needs of this massive consumer demographic.
- Millennials have a greater level of trust for small manufacturers. They are more likely to believe that small manufacturers will deliver on their promises, and that trust appears to be growing.
- Millennials are bullish about buying groceries online. Online purchasing has removed huge distribution challenges for small manufacturers and this trend is poised to significantly disrupt the market in years to come.
Also read: What millennials choose to order at restaurants.
Prepare Your Business With Our Free Report
Those who figure out how to meet the wants and needs of millennials are poised to come out on top. Is your business ready for the future of food? Our research solutions provide insights on millennials for you.
To better understand this revolution and to learn from case studies where manufacturers have figured out how to profit from these trends, download our report – The Future of Food: Are You Ready for the Millennials?
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