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Jeff Turners, senior vice president of culinary at Whole Foods Markets, said that despite rising food prices, consumers are still looking for quality products with more nutrients and less added sodium and sugar.
“There are always trends in grocery shopping, but we try to stick to our quality standards because good quality food never goes away,” Turnas said.
As inflation continued into 2024, food prices continued to soar and consumers suffered.
But in July there were some signs of relief. Home-cooked meal prices rose 1.1 percent year-on-year. According to the Consumer Price Index released last week by the U.S. Bureau of Labor Statistics, inflation rose 2.9% on an annual basis, the lowest level since March 2021.
Although food price inflation has slowed, Consumers remain concerned about food costs.. This week, Vice President Kamala Harris Promised a federal ban on food price increases. She proposed it as part of an economic policy that would help make the food industry more competitive.
Consumers seek value and quality when making purchases.
Keto and paleo, for example, have been trendy for some time, but consumers now seem more focused on eating a variety of foods, according to Turner.
Many consumers are looking to supplements to get extra nutrients or are more focused on how certain spices and supplements can positively impact their health and wellness, Turnas said.
The specialty food ingredients market size including dietary vitamins and supplements was valued at USD 112.4 million in 2022 and is expected to reach USD 168.6 million by 2031, growing at a CAGR of 5.2%.
The sweetener market, for example, is going through a period of tremendous innovation, with companies using honey truffles and other ingredients. Add sweet protein for flavor It's similar to sugar.
Turner said one way Whole Foods is getting ahead of this trend is by collecting consumer shopping behavior and turning it into products.
With the surge in supplements, Turner’s noticed a rise in turmeric, a spice rich in phytonutrients and known for its properties that can reduce inflammation and improve gut health.
With sourdough bread trending on social media, Turnas seized the opportunity.
In the fall, grocery stores will be launching a sourdough bread made with pumpkin and turmeric.
Advances in research and development have enabled grocers to predict and act on customer shopping behavior.
“We built products based on what we thought people would want, but now we can actually test that theory and see it work,” he said.
