New York:
Consumer willingness try new foods and flavors helped propel U.S. retail and foodservice sales of specialty food and beverages to $75 billion in 2011, a 6.9% increase over 2010 sales, according to a new report from the National Association for the Specialty Trade (NASFT). Surging demand for yogurt, energy bars, nut and seed butters and coffee drinks helped drive sales to new highs for the second year in a row.
The report, “The State of the Specialty Food Industry 2012″ tracks sales of specialty food through supermarkets, natural food stores and specialty food retailers, and includes research from interviews with food retailers, distributors, brokers and others involved in the supply chain.
“Consumers are making better food a part of their lifestyle,” said Ron Tanner, vice president, communications and education, for the NASFT. “They are embracing new foods and flavors and are willing to choose top-quality even while they economize elsewhere.”
Cheese continues to dominate specialty foods, pulling in $3.44 billion in retail sales in 2011. The next largest retail sales categories are meats, poultry and seafood; chips, pretzels and snacks; coffee, coffee substitutes and cocoa; and bread and baked goods. Functional beverages are the fastest-growing segment, followed by yogurt and kefir.
While 2011 product introductions declined 6.2% a manufacturers focused on existing lines, there is positive momentum for the industry as the average transaction size for specialty food stores jumped 11.4% to $41.49.
Key takeaways from the report include:
Specialty foods represent 13.7% of all food sales at retail.
Kosher is the leading claim for new specialty food products, followed by All Natural.
Natural food stores are the fastest growing retail channel, with a sales increase of 19.8% from 2009-2011.
In 2011, 41% of specialty food manufacturers reported a sales increase of more than 20%.
Local is the most influential product claim today, according to 75% of retailers surveyed.
Latin is the fastest-emerging cuisine, retailers said. Importers report growth in cuisines from Eastern Europe and India.
Sources:
National Association for the Specialty Food Trade: Specialty Food Industry Hits New High
www.foodproductdesign.com / Home> News / April 02nd, 2012
