Specialty Food Magazine

departments in this issue 2024 WINTER VOL. 54, NO. 1 10 PHOTO: MARK FERRI FOOD ST YLING: LESLIE ORLANDINI PROPS ST YLING: FRANCINE MATALON-DEGNI 1 editor's letter 8 buyers' picks 10 trends & happenings 47 SFA news 50 spotlight showcases 52 by the numbers 12 store & restaurant tour SIN CITY SPECIALTIES Las Vegas, home of the Winter Fancy Food Show 2024, presents unique specialty food destinations including a flashy new steakhouse, European-style shopping hall, and foods from acclaimed chefs. 20 2024 LEADERSHIP AWARD WINNERS SFA presents its 2024 Leadership Award winners, who are making a difference in the food industry and the world. 27 Today's Specialty Food Consumer, 2023-2024 Edition SPECIALTY SHOPPERS: THE WHO, WHAT, WHERE, AND WHY The report preview highlights pertinent trends and behaviors that are driving specialty food purchasing across generations. 36 show news Schedule of Show events, Q&As, and new Show features. 6 SPECIALTY FOOD SPECIALTYFOOD.COM CONTENTS 49% 11% 12% 12% 7% 8% 49% 9% 12% 16% 10% 4% 50% 10% 9% 11% 12% 7% 41% 10% 11% 11% 10% 18% 32% 10% 8% 8% 12% 30% 4% Net Dierence -4% 0% -2% -5% 49% 11% 12% 12% 7% 8% 49% 9% 12% 16% 10% 4% 50% 10% 9% 11% 12% 7% 41% 10% 11% 11% 10% 18% 32% 10% 8% 8% 12% 30% 4% Net Dierence -4% 0% -2% -5% • Consumers polled by Technomic indicated that, to stretch their food dollars, they're more likely to do takeout rather than direct delivery from a third party in the future. • Another occasion shift involves dining out in the morning. "Brunch is the new dinner. You can still enjoy adult conversations and beverages, but you EXPECTED CHANGE IN CHANNEL USAGE IN NEXT THREE MONTHS SPECIALTY FOOD RETAIL GROWTH VS. ECOMMERCE GROWTH Source: SFA's The State of the Specialty Food Industry Report, 2023-2024 Edition SFA's Trendspotter Panel, comprising professionals from diverse segments of the culinary world, anticipates the following for 2024: Gen Z and Millennials are becoming the larger half of the market as Gen X and Baby Boomers age. More than half of these younger generations read nutritional facts most or all of the time and are willing to spend more for better quality food. Nearly half make food choices primarily with health in mind. Foodservice changed forever during the pandemic as takeout and delivery surged due to necessity and then continued growing due to consumer preference. Sales have recovered but profitability is still challenged. Rising preference for value will go beyond takeout to dining out for brunch instead of dinner or skipping one or more meal parts. Beverages grew faster than food over the past decade, reaching 17 percent of total specialty sales. The reason that beverages play an outsized role in specialty food is that drinks innovation happens at a faster pace than for food. Beverages in 2024 will push the boundaries of flavor, form, and function, and continue to delight young consumers as affordable luxuries. B R O U G H T T O Y O U B Y T H E S F A D I S T R I B U T O R C O U N C I L FORWARD-LOOKING TRENDS A bevy of beverages. "The coming year will boom with sophisticated-tasting single- serve, non-alcoholic fizzy and non-fizzy drinks; and coffees, teas, and broths with functional ingredients for an additional boost of energy, clarity, focus, or calming effect," said Trendspotter Kantha Shelke, principal at Corvus Blue LLC. Cell-based meat and seafood. Cell-based options will gain popularity in 2024 due to their sustainable and ethical production methods, addressing environmental and animal welfare concerns while offering a familiar taste experience to consumers, said Trendspotter Patsy Ramirez-Arroyo, PG Consulting Group, LLC. Peach. In the coming year, peach as a flavor will excite consumers with some new variation and exciting reinterpretations, said the panel. Calabrian chili peppers are appearing in both conventional and slightly unconventional products: pasta sauce, hot sauce, cured meats, snacks, relish, hot honey. Tahini. Tahini milkshakes and coffees, cookies, and pastries featuring tahini are popping up in metropolitan areas like New York, San Francisco, and Philadelphia. Soup. "Universal, warm, convenient. Never really goes out of style," said Trendspotter Jenn de la Vega, Put A Egg On It. Black Sesame, ube, and milk tea. Three iconic Asian flavors will follow the path of matcha and continue to enter a more familiar sphere among makers and consumers. Value. As consumers watch their pennies they'll place more importance on value. "This may be versatile uses, low-stress flavor building, or longer shelf life (yes, longer shelf life!)," said Trendspotter Melanie Bartelme, Mintel. Specialty Food Ecommerce FOODSERVICE TRENDS Forecasted Category 2022 Sales CAGR% 2023-2027 2027 Sales Entrees (refrigerated) $4.34B 6.4% $5.95B Appetizers and Snacks (frozen) $850M 6.4% $1.171B Chocolate and Other Confectionery $3.88B 6.1% $5.31B Chips, Pretzels, Snacks $6.08B 5.8% $8.28B CATEGORIES FORECASTED TO BE FAST GROWING IN 2024 Ecommerce growth has been impressive in 2023 and is expected to stay strong in 2024. In-store growth is good but challenged by inflation and unit declines. Monthly Trend Reports SFA's Trend Reports, brought exclusively to members by SFA's Distributor Council, focus on a different category each month. These reports offer retail and foodservice data and buyer commentary on top sellers. On the Cover ← A flaming tomahawk steak served dangling from a hook over the table at the new Las Vegas restaurant Stanton Social Prime. PHOTO: CAESARS ENTERTAINMENT 12 in this issue PHOTO: THE SUNDRY

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