Seafood Consumer of the Future

Seafood Consumer of the Future

© 2017 Technomic Inc.

The best predictor of future behavior is… past behavior © 2017 Technomic Inc.

$50,000.00

Consumption Levels by Age Group 1984-2013

OVERALL SPEND

PATTERNS

$40,000.00

By age groups over time $30,000.00

$20,000.00

$10,000.00

$Under 25

25-34

35-44

45-54

55-64

65-74

75+

Insurance Education Entertainment Health Care Transportation Apparel & Services Housing Food

Source: Morgan Stanley (2016) “Generations Change How Spending is Trending”

© 2017 Technomic Inc.

3

Mean Food Expenditures by Age, 2013

AGE GROUP

FOOD SPEND At-home and away-from-home

Share of spend away-from-home

45%

43%

41%

41%

37%

38%

Under 25

25-34

35-44

45-54

55-64

65-74

32%

$9,000 $8,000 $7,000 $6,000 $5,000

$4,000 $3,000

Food away-fromhome

$2,000

Food at-home

$1,000

$Source: bureau of Labor Statistics (2105) “Consumer expenditures by age”

© 2017 Technomic Inc.

75+ 4

IN 2025… NEW WORKFORCE, NEW LIFESTAGE GROUPS  A larger proportion of Gen Z will be in the workforce  More Millennials will be married with kids, impacting their food spend behavior  More Gen X and older Millennials will start becoming empty nesters

© 2017 Technomic Inc.

5

American Diversity by Generation GI Generation

FUTURE CONSUMERS WILL BE

80+

70-79 60-69

Boomer

MORE DIVERSE

50-60 45-50

Gen X 40-44

30-39

Millennial 20-29 10-19

Gen Next