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Specialty Food Association Releases Second Edition of Research Report; Bill Lynch Comments

Specialty Food Association Releases Second Edition of Research Report; Bill Lynch Comments


NEW YORK CITY, NY
Tuesday, May 28th, 2024

To keep the specialty foods industry competitive, the Specialty Food Association (SFA) released a second edition of its groundbreaking research report, Understanding the Real Value of Specialty Foods.

Bill Lynch, President, Specialty Food Association"There is a general perception of specialty foods as inherently worth more, whether in price or in time shoppers spend to procure them. This updated research proves that perception correct," said Bill Lynch, SFA President. "This has meaningful implications for many SFA members and the industry as a whole. In a time of economic uncertainty and fluctuating prices, we hope this research helps food makers, buyers, brokers, and distributors understand the positive impact that specialty products have on retailers' bottom lines.”

According to a press release, this research is built on interviews with 1,000 shoppers, 100 retailers, and other data points, the new report outlines the positive impact of specialty products on retailer profitability and shopper loyalty.

The report describes the current moment as "an era of specialty food prominence," and indicates that sales of specialty products have grown from $88 billion in 2013 to an estimated $207 billion in 2023, an increase of 149 percent.

The Specialty Food Association (SFA) released a second edition of its groundbreaking research report, Understanding the Real Value of Specialty FoodsWith specialty food and beverages now representing 21.6 percent of all center store grocery sales in the 63 categories measured by SFA, they are no longer regarded as niche products, but a major driver of growth in the grocery sector.

The new report contains sections on the economic impact of specialty foods, consumer insights and market dynamics, retailer case studies, growth opportunities, the role of distributors, private-label trends, e-commerce strategies, and the future outlook for the specialty foods market.

To access it, click here.

As always, Deli Market News will be here to report on the latest updates across our industry.

Specialty Food Association
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