The Hispanic and Asian influence on the US food and beverage market is growing stronger as ethnic flavors become mainstream and the spending power of these cultural groups increases, according to an industry expert.
Consumers who claim to be concerned about the environment are not always likely to follow through by purchasing environmentally sound goods, according to a new study from IRI which could help food manufacturers when positioning green products.
The Organic Trade Association (OTA) says it will be sharing floor space at its next annual trade show with two of the US’ most prominent ethnic food events in reflection of their growing significance to natural goods.
Market analysts say the organic market trend is here to stay,
despite rising food prices. In fact, issues surrounding these price
hikes - the globalization of food and environmental factors - may
actually bolster this market.
Trends are set to combine in 2008, with Americanized ethnic flavors
and healthy but indulgent products steering the market, while
locally, ethically sourced food will continue to grow in
popularity, says a new report.