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Learn how to profit from the strong demand for ethnic cuisines. Millennials and Boomers seek out exciting new and different global flavors. Discover why promoting these foods is smart business.
When was the last time you thought of Italian food as ethnic? Blinked twice to see potstickers on the menu at a casual theme restaurant? Exactly: Ethnic food is a mainstream phenomenon.
According to the Emerging Global Cuisines: Culinary Trend Mapping Report, released by the Center for Culinary Development and Packaged Facts: “Emerging global cuisines are literally opening up a whole new world of culinary experiences to American consumers of all ages, due to the nearly infinite range of ingredients, forms, and flavors they offer.” The report goes on to cite the fact that well-traveled Baby Boomers and adventurous Millennials alike are drawn to the emerging flavors and specialties of such countries as Peru, Morocco, Korea, and Japan.
Pick up any menu these days, and you’re sure to find global flavors in abundance. Simply put, borders no longer exist when it comes to taste. And as operators look to attract new diners, they’re turning to these worldly inspired cuisines to capitalize on the demand. So, what’s driving this desire for diversity? Here are a few reasons for the continuing trend:
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The latest data from Iowa Workforce Development shows 10,300 jobs were added to the payrolls at Iowa restaurants and hotels over the last 12 months. “It’s no surprise that we would be showing growth, but I can tell you we would show substantially more growth if there were more people out there to hire,” Jessica Dunker, president and CEO of the Iowa Restaurant Association, said. Click here to read the full article.
Acosta, a global integrated sales and marketing services provider in the consumer packaged goods (CPG) industry, released its sixth edition of The Why? Behind the Dine, a research report providing foodservice-specific insight bolstered by the expertise of its CORE Foodservice division.
Acosta's findings show that while most consumers (54 percent) are dining out less often due to inflation, about one-third are choosing to trade down rather than trade out, opting for less expensive restaurant and meal options to counter rising prices. Click here to read the full article.
With prices across the economy — from food, gas and rent to cars, airfares and hotel rooms — soaring at their fastest pace in decades, you might think Americans would tap the brakes on spending.
Not so far. Consumers as a whole are showing surprising resilience, not only sustaining their spending but increasing it even after adjusting for inflation. In April, the government said, retail sales outplaced inflation for a fourth straight month. It was a reassuring sign that consumers — the primary drivers of America’s economy — are still providing vital support and helping allay concerns that a recession might be near. Click here to read the full story.
Smaller carriers multiplied in 2020-21 as COVID-19 ebbed, demand surged, and spot-market rates favored them. But this trend appears to be doing a 180-degree turn, as Truckstop.com findings show that 51% of these operators are considering changing jobs. Click here to read the full story.
Tyson Foods Inc. will invest $1.8 billion as it opens 12 meat plants over the next two years that are expected to increase the Springdale, Ark.-based processor's annual capacity by approximately 1.3 billion pounds.
“Consumer demand for protein has remained strong, and we are taking deliberate actions by segment to improve our volumes to better meet customer needs, including investing in new capacity,” said Tyson President and CEO Donnie King told analysts at the presentation covering the company's second quarter earnings earlier this month.
Currently on the Tyson docket are seven overseas processing facilities in addition to two U.S.-based beef and pork plants and two domestic value-added chicken processing plants.
“The construction of new plants continues to progress,” King continued. “This additional capacity will enable our team to address capacity constraints and better serve growing demand for protein across all segments. Along with ramping up utilization of our newest plant in Humboldt, Eagle Mountain and Thailand, we have four plants expected to commence operation in the fourth quarter of fiscal year 2022.”
The plant announcement comes on the heels of Tyson’s report of strong second-quarter sales and increased revenue guidance.
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