Specialty Food Magazine

Summer 2019

Specialty Food Magazine is the leading publication for retailers, manufacturers and foodservice professionals in the specialty food trade. It provides news, trends and business-building insights that help readers keep their businesses competitive.

Issue link: https://www.e-digitaleditions.com/i/1119718

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Page 111 of 155

Specialty food and beverage sales account for 16.1% of the total food and beverage market, up one percentage point since 2016. Plant-based categories continue to lead in terms of specialty share. Most of these categories originally were devel- oped specifically for the natural and specialty consumer. Many of the most cutting-edge plant-based products begin in natural or specialty retail and migrate to larger channels if sales reach critical mass. During 2016-2018, unit sales for specialty food and bever- ages also increased along with dollar sales to give a truly accurate snapshot of the market's health. "As far as our goals for growth, we see quick adoption of our products along the two coasts, but our ultimate goal is really about the middle of America." —founder and CEO of a plant-based premium food brand "It seems like the more non- traditional business is far more prof- itable for us. We're not needing to run promotions or [be concerned by] getting dinged by distributors." —co-founder and CEO of a premium condiment company Refrigerated Plant-based Meat Alternatives Refrigerated Plant-based Milk Shelf-stable Plant-based Milk Tofu Non-RTD Tea Refrigerated Pasta, Pizza Sauces Refrigerated Salsas and Dips Refrigerated Condiments Refrigerated Pasta Wellness Bars and Gels SPECIALTY FOOD—WHAT IS SELLING NOW? Source: Mintel/SPINS THE STATE OF THE SPECIALTY FOOD INDUSTRY S5 HIGHEST MARKET SHARE top 10 categories WITH Retail Dollar Sales Retail Unit Sales 8.1% 0 2 4 6 8 10 12 10.3% Source: Mintel/SPINS

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