Specialty Food Magazine

Summer 2020

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/1256204

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Page 75 of 91

Source: Mintel/SPINS S6 | THE STATE OF THE SPECIALTY FOOD INDUSTRY Sales Share of Specialty Sales Share of Specialty Food and Beverage Retail Departments, 2017-2019 *Meat, Poultry, Seafood (Frozen, Refrigerated) is the only category that includes both frozen and refrigerated items. Does not include private label sales, specialty food perishables (PLU or random-weight specialty items sold in a supermarket's bakery, deli, meat, and seafood sections), or sales through WFM, Trader Joe's, online, or foodservice channels. Data may not equal totals due to rounding. Source: Mintel/SPINS Specialty Plant-based Food and Beverages Specialty Plant-based Food and Beverages, Top Five Categories by Growth, 2017-2019 Food Retail Departments Shelf-Stable Creams & Creamers Refrigerated Creams & Creamers Yogurt & Kefir Refrigerated Juices & Functional Beverages Refrigerated Plant-based Meat Alternatives Specialty Food — What Is Selling Now Despite importance being placed on perishable food and beverage categories, the center store grocery department carries much of the weight of the specialty market, comprising 62 percent of all specialty categories and 60 percent of total retail sales. Specialty basics like Bread and Baked Goods and Water are two top 10 grocery categories that are helping center store grow. The Impact of COVID-19 has dramatically and often favorably ašected various center-store categories, as consumers aggressively stocked up to stay home. Specialty brands of pasta, soup, water, rice, and other categories have benefited, for examples, particularly those slotted in mainstream outlets as larger brands sold out. Plant-based specialty food and beverage has become a $5 billion segment in retail sales, crossing 19 categories. Refrigerated Plant-based Milk makes up most sales, followed distantly by Refrigerated Plant-based Meat Alternatives; Yogurt and Kefir; Frozen Plant-based Meat Alternatives; and Frozen Desserts. Key plant-based categories grew dramatically in the first quarter of 2020 as COVID-19 grew. According to SPINS, meat alternative sales jumped 300-400 percent during March, as compared to a year ago. Consumers switched to plant-based purchases when animal proteins and dairy products were not available. "Center store has been sustaining more than 100 percent growth rate for 7-8 weeks at this point." — Stephen Corradini, senior vp merchandising and marketing at Kings and Balducci's (SFA's "Working with Buyers" webinar, April 2020) $ millions Grocery + 8.1% 2017-19 + 7.1% 2017-19 + 11.1% 2017-19 + 8.7% 2017-19 2017 2018 2019 0 $10,000 $20,000 $30,000 $40,000 $50,000 60% 25% 9% 6% 0 30 60 90 120 150 Total plant-based market growth = 27.4% Refrigerated Frozen Frozen/Refrig* % OF MARKET Categories by Growth Top 5 142% 110% 85% 77% 64%

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