Many consumers today are used to having choices when it comes to product selection and food is no exception. In large part this is being driven by the millennial generation (the group born between 1980 and 2000).
There are about 80 million millennials in the United States (or about 25% of the U.S. population). They exceed the baby boomer generation by approximately 3 million people. Millennials are now between the ages of 14 and 34 years old and more importantly, as a group they have purchasing power estimated to be about $170 billion. So like the boomers before them, what millennials say with their wallets will likely have major impact on product offerings moving forward.