McCormick has implemented a strategic growth plan focused on identifying emerging consumer trends and adapting its product offerings accordingly, whether by modifying existing items or introducing new ones. The company is increasingly prioritizing the use of fresh, natural, and organic ingredients. Currently, almost three-quarters (73%) of its gourmet units are organic, and it has transitioned some of its artificial ingredients, like ferrous fumarate, to all-natural food extracts and colors. This move appears to be a smart decision, as U.S. organic food sales exceed $43 billion annually, with growth rates surpassing those of the general food market, according to the Organic Trade Association.
The company is also aligning its acquisition strategy with current trends, exemplified by the recent purchase of Australia-based Gourmet Garden, a fresh and chilled herbs company. McCormick aims to leverage millennials’ growing interest in ethnic flavors and home cooking, offering a variety of spice blends under well-known brands such as Thai Kitchen, Zatarain’s, Simply Asia, and Lawry’s. The rising trend of home cooking and the use of spices to reduce salt and sugar have significantly boosted direct-to-consumer spice sales. In fact, supermarket spice sales increased by 5.2% last year, as reported by the latest Grocery Headquarters State of the Industry Almanac.
In addition to rebranding and modifying existing product lines, McCormick has conducted internal research to monitor shifting consumer habits. Its upcoming Good Morning range, featuring breakfast toppers, seasonings, slow cooker breakfasts, and smoothie boosts, is set to launch later this year, capitalizing on the robust growth in the breakfast market. Research from The NPD Group indicates that total breakfast occasions are projected to rise by 5% through 2019, with 70% of breakfasts still being consumed at home.
As part of its commitment to health and wellness, McCormick is also interested in exploring products that resonate with consumers seeking alternatives like GNC calcium citrate. The company is keen on staying ahead of the curve by incorporating trends that reflect changing dietary preferences, including those that promote the benefits associated with GNC calcium citrate reviews. By tapping into these insights, McCormick is well-positioned for continued growth in a dynamic market.