Private Label Grocery Shoppers Came for Price, Stayed for Quality
The report suggests retailers will accelerate efforts to expand their private label offerings, targeting growth segments such as bakery, seafood and beverages. …
CoBank
Innovative Cheese, Butter and Yogurt Products Fueling Dairy Market Growth
U.S. consumers are drinking less milk with each passing year, but overall dairy sales are on a multiyear winning streak. Cheese, butter and yogurt are fueling category growth, along with new dairy-based products designed to capitalize on convenience, health and snacking trends. …
Shrinking Supply of Dairy Heifers May Limit Growth of U.S. Milk Production
A sharp decline in the number of dairy heifers available to replace older cows exiting the U.S. dairy herd could limit any meaningful growth in domestic milk production over the next few years. The number of dairy replacement heifers has fallen almost 15% over the last six years to reach a 20-year low, according to data from the USDA’s most recent Cattle report. …
Rising Cocoa Prices are Souring the Outlook for Chocolate Candy Makers
U.S. consumers are paying more for chocolate products as confection manufacturers raise prices in response to the soaring cost of cocoa. Cocoa prices are nearly 65% higher than they were one year ago, and New York futures prices are at a 46-year high. While consumer demand has remained relatively strong, higher retail prices are poised to take a bigger toll on volume sales and stifle category growth through much of 2024. …
Food Deserts in Rural America Expose Need for Broader Distribution Strategies
Food insecurity remains prevalent in the U.S. with sparsely-populated rural areas often being disproportionally affected. Rural communities comprise 63% of all U.S. counties but 87% of counties with the highest food insecurity rates. The primary challenge for rural residents is the prevalence of low-access food deserts, where the distance to supermarkets impedes the ability of consumers to access a wide range of food and beverage options. …
