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/438836
F orty years ago, one company dominated the soup market: Campbell Soup. The brand filled supermarket shelves and was considered an essential in home pantries nationwide. Today, soups, stews, and chili have evolved and expanded with a cornucopia of offerings from dozens of producers that cater to a variety of consumers. The category has not only matured but also become more sophisticated, breaking beyond comfort food status. Health-conscious consumers with increasingly refined pal- ates have inf luenced new bold f lavors like Thai chiles or green curry, and ingredients such as sustainable wild seafood, kale, and quinoa have become the norm. A Growing Market Specialty soup sales increased 9.3 percent between 2011 and 2013, to $558 mil- lion, according to the Specialty Food Association's 2014 "State of the Specialty Food Industry" report. Market research firm Euromonitor International predicts the overall category will grow by 8 percent between 2014 and 2018 to reach $5.4 billion in sales. New introductions at higher price points with simpler, more natural ingredient lists are expected to be a factor in this growth. With the consensus that f lavor and ease of use are priorities among customers, the category targets two distinct market segments: shoppers who want to participate in meal preparation and prefer scratch or almost-scratch cooking and those who prefer quick convenience. In both segments, f lavor, freshness, and nutrition are top priorities. Fischer & Weiser Mom's Limited Edition Tomato Basil Soup WINTER 2015 61