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/375622
EDITOR'S LETTER A New Way to Look at the Industry FALL 2014 1 HAVE A COMMENT? Visit specialtyfood.com/dpurcell/redefning Y ou'll notice some changes in our annual report, "Today's Specialty Food Consumer." This year, the Specialty Food Association and Mintel revised the food and beverage examples used to identify specialty food consumers. For example, foods once considered niche, like Greek yogurt, have now moved into the mainstream. This has allowed us to fine-tune the definition of specialty foods to ref lect products with a premium status. Denise Purcell Editor, Specialty Food Magazine dpurcell@specialtyfood.com As a result, this year's figures represent a drop from 2013. This year 59 percent of U.S. consumers purchased specialty foods, versus 74 percent last year. The good news is that the difference ref lects the redefinition rather than de- clining purchases; Mintel estimates that the industry experi- enced a sales growth of about 8 percent in 2014. While signs point to a healthy marketplace, future chal- lenges could arise if the trade doesn't expand its reach beyond its core consumers, who are largely young, between the ages of 18 and 44. According to the U.S. Census Bureau, adults in that age group represent 36.1 percent of the 2014 U.S. population, a number expected to dip closer to 35 percent in the next five years. Though Mintel expects this group to remain engaged in specialty foods because the products are so ingrained in their lifestyle, the fact remains that the popu- lation is aging—but it could lead to a long-term f lattening of the specialty food industry's growth. Today, adults over 55 are the fastest-growing segment of the population but the lightest users of specialty foods. This year's research shows that 54 percent of those aged 55–64, and 45 percent of consumers 65 and older, buy specialty foods— compared with nearly 70 percent for younger age groups. Pro- ducers and retailers should consider ways to appeal to more mature adults or risk a dip in performance in the long run. Data shows they are likely to purchase chocolate, olive and other oils, crackers, jams, and locally sourced foods, and they often buy specialty foods for everyday meals at home. As these consumers go grocery shopping the most out of all age groups, there could be ample opportunity to engage them with the specialty items that appeal to them. In this year's report you'll find plenty of useful facts on who is purchasing specialty foods and why, as well as a look at other shopping motivations, attitudes, and concerns. And speaking of changes, you'll notice a big one when you turn to p. 81. We've redesigned the data presentation to be more visu- ally engaging, showcasing key points and highlights. A report that contains full charts and tables is available for download at specialtyfood.com/consumer2014. Many thanks to the Specialty Food Association team who helped with the reinvention of this report: Ian Au, brand specialist, who led the research with Mintel; Maria San Andres, art director, who designed the report, and Eva Meszaros and Susan Segrest, managing editor and contrib- uting editor, respectively, for their copyediting and proof- reading skills with the reams of data.