Rising income levels will propel purchases of premium items

Sales take a hit as pandemic-forced closings shutter many restaurants and retailers

Sales among millennial and baby boomer cohorts will further boost gains

Growth in incomes and household formations will also support sales

Growth in household formation and marriages will also boost demand

Release of pent-up demand after 2020 declines expected to boost sales in the near term

Consumers increasingly opting for pricier food options with healthier, more environmentally conscious profiles

Sparkling water segment set to see fastest gains through 2024

Expanding scope of products utilizing electronic components will underlie gains

Demand expected to recover through 2024 following 8.0% decline in 2020