The US food industry faces low profit margins and thrifty consumers in 2010, according to research out today (16 March).
The study, Plunkett’s Food Industry Almanac 2010 edition, by Plunkett Research, showed that GM, or genetically modified, foods are staging “significant growth” in 25 nations worldwide.
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Jack Plunkett, CEO of Plunkett Research said: “Food processors and retailers will remain challenged in 2010 by low profit margins and frugal consumers.
“Many governments are starting to appreciate the ability of GM seeds to increase yields and lower food costs,” he added.
The study also showed that Wal-Mart dominates as the world’s biggest retailer – and now America’s biggest grocer, private label brands continue to boom, organic foods sales have posted growth, and that childhood obesity has brought about changes in marketing.
A complete report with detailed industry trends and statistics analysis is provided in Plunkett’s Food Industry Almanac, 2010 edition at www.plunkettresearch.com.
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