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
LOOKING AHEAD Households that earn $75,000 or more annually represent less than 30 percent of the country's population, according to U.S. Census Bureau data from 2012. To grow the industry, specialty food retailers and manufacturers may want to adapt pricing strategies or develop private-label offerings to engage a larger audience of less affluent consumers. 59% of adults have purchased specialty food products in the past six months Since 2006, women, younger adults, afuent households, and Hispanics have been the most likely purchasers of specialty foods C2 TODAY'S SPECIALTY FOOD CONSUMER 2014 Who Buys Specialty Foods 2013 2014* Have you purchased specialty foods in the past six months? 2,000 1,649 All 74 59 Gender Male 74 57 Female 75 61 Age 18-24 82 69 25-34 73 70 35-44 75 60 45-54 75 56 55-64 74 54 65+ 69 45 Household Income Under $25K 58 41 $25K–49.9K 72 49 $50K–74.9K 78 64 $75K–99.9K 78 70 $100K+ 83 70 Race/Hispanic Origin† White 77 58 Black 60 64 Hispanic 78 71 Region New England 82 58 Mid-Atlantic 74 63 Mountain 77 57 Pacific 80 67 South 72 55 Midwest 70 57 Base: internet users aged 18+ *Survey dates: August 2013, June 2014 †Sample size too small for Asian or Pacific Islander Source: Mintel KEY DEMOGRAPHICS % % T he core specialty food consumer defined by Mintel is aged 18 to 44. Within this group, 18–24s and 35–44s are the most likely to purchase the largest range of specialty food categories. The core specialty food consumer also tends to be affluent, earning more than $75,000 annually. Women are more likely than men to purchase specialty foods and Hispanics have the highest prevalence of purchasing specialty foods among ethnic groups. The Pacific and Mid-Atlantic regions show the highest rate of specialty food purchases.