Hormel Foods Details Changing Culinary Landscape in America

Rhea-AI Summary

Hormel Foods Corporation (NYSE: HRL) discusses significant shifts in consumer food preferences and culinary trends post-pandemic. The company reveals that consumers are seeking food products that offer memorable experiences, align with personal values, and provide convenience. Key trends identified include The Edible Experience, Viral Food from platforms like TikTok, New Routines accommodating busy lifestyles, and a growing emphasis on Sustainability. Hormel plans to enhance product offerings that reflect these consumer demands, including nutritious and plant-based options.

Positive

• Hormel Foods is adapting to shifts in consumer preferences by offering products that align with personal values and support sustainable practices.
• The company is tapping into trending culinary themes like 'The Edible Experience' and 'Viral Food' to attract modern consumers.

Negative

• None.

Experts weigh in on how edible experiences, viral food and mission-based products are having big culinary moments right now and show no signs of slowing down

AUSTIN, Minn., June 30, 2022 /PRNewswire/ -- It's no surprise that consumer preferences about food shifted widely during the past two years as people reprioritized what mattered most to them. Some cemented new food routines, while others strengthened their resolve to use brands that align with their core values. Fortune 500 global branded food company Hormel Foods Corporation (NYSE: HRL) tapped the company's innovation and insights experts to provide culinary insights that are driving today's food trends. 

"Hormel Foods has seen dramatic changes in people's eating habits, culinary interests and where they find information about food," said Heather Vossler, director of innovation and consumer insights at Hormel Foods. "We know that consumers expect more from their purchases than just simple nourishment. They desire food products that taste great, create memorable experiences, make their lives easier and support their values, in addition to creating and convenient solutions that help them adapt to their ever-changing lives and routines." 

Current trends include:

• The Edible Experience: Food can be a passport to see the world and enjoy new experiences. With the time for travel and experiences lost over the past two years, consumers are demanding more from their food and have a real desire to discover new things and connect with others. With home still being the cooking hub for many, people look for foods that provide new and entertaining experiences, restaurant-quality taste or cultural touchpoints.
  Try it: HERDEZ^® brand sauces and salsas, COLUMBUS^® Craft Meats Perfect Charcuterie Bite, PLANTERS^® sweet & spicy peanuts
• Viral Food: 2021 marked the emergence of TikTok as a go-to spot for happening food culture. Blink-and-you-miss-it trends and cooking techniques show no signs of slowing down as consumers look to experience familiar foods in new ways.
  Try it: JENNIE-O^® turkey sausage and egg muffin, HORMEL^® MARY KITCHEN^® hash in a waffle maker
• New Routines & Rituals: As people settle into their new normal, they are experimenting with different ways to cook and new products to buy that accommodate these lifestyle changes. While home cooking remains popular, most no longer have time for the weekend-long baking projects that were popular a year ago. Consumers are seeking hacks and shortcuts to save time, but they don't want to sacrifice quality in the process. Eating is still a special moment in the day that gives people a break from life's stresses.
  Try it: WHOLLY^® Diced Avocado, HORMEL^® Cup N' Crisp pepperoni, HORMEL^® BLACK LABEL^® microwave ready bacon
• Business with Purpose: Consumers continue to seek out brands that support their personal values and positively impact employees, communities, animals and the environment. Transparency and showing measurable change will become even more critical in gaining trust. Reimagined products with cleaner, more nutritious or more plant-based ingredients will continue to increase in popularity.
  Try it: APPLEGATE NATURALS^® DO GOOD DOG™ Uncured Beef Hot Dog, JUSTIN'S^® Dark Chocolate Almond Butter Cups
• Nurturing Wellness: More than ever before, consumers are looking to food to make them feel well – physically, mentally and emotionally. This will become more and more individualized as people seek out the right blend of foods that work for their personal wellness journey. Whether it's wanting more protein or less sugar, wanting to increase their energy levels or enhance their mood, people are moving past the one-size-fits-all eating habits in favor of an individualized approach with products that support their personal goals.
  Try it: SKIPPY^® peanut butter blended with plant protein, HAPPY LITTLE PLANTS^® brand
• Sustainability: Consumers have high expectations for brands to do the right thing when it comes to good stewardship of environmental resources. Most people now consider sustainability an important factor when making a purchase decision. In fact, consumers go even further in suggesting that they will make repeat purchases from those companies and brands that people deem to be doing good for the planet.
  Hormel Foods is committed to continuous improvement and has set 20 qualitative and quantitative goals to achieve by the end of 2030 to make the world a better place. For more information, visit Hormel Foods 20 By 30 Challenge.

ABOUT HORMEL FOODS — Inspired People. Inspired Food.™

Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $11 billion in annual revenue across more than 80 countries worldwide. Its brands include Planters^®, SKIPPY^®, SPAM^®, Hormel^® Natural Choice^®, Applegate^®, Justin's^®, Wholly^®, Hormel^® Black Label^®, Columbus^®, Jennie-O^® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named on the "Global 2000 World's Best Employers" list by Forbes magazine for three years, is one of Fortune magazine's most admired companies, has appeared on the "100 Best Corporate Citizens" list by 3BL Media 13 times, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit www.hormelfoods.com and http://csr.hormelfoods.com/.

Media Contact: 
media@hormel.com
507-434-6352

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/hormel-foods-details-changing-culinary-landscape-in-america-301578851.html

SOURCE Hormel Foods Corporation

FAQ

What new consumer trends is Hormel Foods addressing?

Hormel Foods is focusing on trends like 'The Edible Experience,' 'Viral Food,' and sustainability, highlighting consumer desires for memorable and value-driven food experiences.

How is Hormel Foods responding to changes in eating habits?

Hormel Foods is innovating its product line to meet the growing demand for convenience, quality, and alignment with consumer values regarding health and sustainability.

What role does sustainability play in Hormel Foods' strategy?

Sustainability is critical for Hormel Foods, as consumers increasingly prefer brands that demonstrate environmental stewardship and social responsibility.