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 76 of 91

THE STATE OF THE SPECIALTY FOOD INDUSTRY | S7 Buying by Generation 2015 79% 65% 78% 67% 47% 35% 44% 60% 69% 59% 61% 65% 75% 70% 84% 82% 66% 76% Zs Gen- Xs Boomers Gen- Millennials Baby 2016 2018* 2019 2020 0 20 40 60 80 100 Share of Consumers The 2020 survey data shows that younger millennials, ages 26-34, are the core specialty food consumer. Gen Zs (ages 18-25) are the next mostly likely buyers — and are the only group to have seen an increase over last year's results, which bodes well for the future of specialty foods. Gen Xs rank slightly lower, a dip since last year. Life stage is driving some of these shifts. For example, Gen Xs are aging and may be altering their food purchases as their children grow up and leave home. More Gen Zs are reaching adulthood each year and their engagement in specialty foods is evolving. Specialty Food Consumers— Who Are They, What Do They Want * 2017 survey moved to January 2018 Share of Consumers Buying Specialty Food and Beverages, by Generation, 2015-2020 Source: Mintel Core consumers are ages 26-34

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