Euromonitor International analysts discussed how food trends could affect the housewares industry in the coming months during the recent Inspired Home Show as part of the show’s Inspiration Theater industry education program.
Catalina Flores, senior industry analyst for home and technology, and Nick Stene, senior industry manager for home and garden; Â delivered the presentation for Euromonitor, a global strategic market research organization.
Inflation and other socio-economic factors have had an impact on food, for example, making eggs a more expensive protein and seafood even more expensive, the Euromonitor team noted. Â That is making seafood less attractive to many consumers, they said while the still relatively reasonable price of eggs and consumer perception of them as a healthy edible is maintaining demand.
Such shifts eventually affect housewares and other home products. For example, a number of factors are maintaining demand for air fryers, especially those with more features that are appropriate for a wider range of uses, according to Euromonitor analysts. Air frying vegetables can make them more attractive to kids, in one example, and the ability of air fryers to refresh leftovers, which are increasingly popular with consumers managing food budgets and time constraints, is supporting sales. Air fryer popularity, when combined with the increasing urbanization and housing costs forcing more people into less space, has potential consequences for what consumers want in their homes.
What’s happening is people have gone from “Aren’t air fryers wonderful?” to, “Do I really need an oven anymore?”
Another change in the market is the growth of veganism, Stene said (pictured above in the Inspiration Theater). Turmeric is popular in vegan foods, but it can quickly damage food packaging. As such, he said, an opportunity exists to market food storage made with materials that can resist damage from turmeric to vegan households.
Flores pointed out that Euromonitor research demonstrates that foodservice has made gains with, consequently, less cooking in homes. However, the trend has its nuances.
Something important is that maybe they’re not eating all their meals at the restaurants, she said. Consumers are searching for value. Maybe some are trading down to more affordable alternatives, but a lot are getting a lot of takeout and delivery and eating those meals at home.
As consumers use foodservice more but eat at restaurants and related outlets less, they are looking for more food storage. However, what they are looking for is changing. A significant proportion of consumers have started to bring their own food and beverage containers to foodservice operators. The reasons may vary from hygiene to sustainability as they avoid throw-away packaging, but an opportunity exists. Indeed, some foodservice operations have been encouraging consumers to bring their own beverage containers for takeout. If the trend continues, beverage containers in formats that suit where they get their coffee and food containers that contract and expand so they take up less space in a backpack or briefcase could gain.
Larger trends suggest certain other possibilities, Stene and Flores pointed out. For example, plant-based milk requires different cleaning methods as it has a different composition than dairy. As such, it can be harder to clean, especially in dishwashers. Consumers have demonstrated more interest in learning to cook the meals they’ve eaten in restaurants at home and at the same quality, which suggests an opportunity for high-end cookware. Advances in appliances that contribute to healthy eating and products for hosting as consumers try to spend more time with friends are also consistent with trends Euromonitor has detected.
As noted, consumers are living in less space when they move into expensive urban environments, so ovenware that can convert into storage has become more attractive, as has stackable housewares and, gradually, cookware with detachable handles.
Listen to the audio from the presentation:
