DECLINING VOLUME SALES ≠ LESS CONSUMPTION
Food and beverage inflation is still high (4.9% YOY in July 2023 and up 20% from 2019) and volumes are declining, but consumers are not eating less. The volume shift is also not a simple one-for-one exchange between retail and foodservice. While retail unit volume is declining, it remains higher than pre-pandemic. And foodservice volume is increasing due to pockets of robust growth, while other areas lag behind.
Circana’s August 2023 Food & Beverage Landscape report, “Declining Volume Sales ≠ Less Consumption,” covers this topic in depth.
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