Economic woes may have impacted away-from-home dining, but consumers still crave restaurant-quality food and beverage options—and expect retail products to deliver the same quality and cutting-edge taste experience.
According to the Specialty Food Association’s “The State of the Specialty Food Industry 2013,” specialty food is among the fastest growing U.S. industries with sales skyrocketing 22.1% between 2010-2012. Last year alone, dollar volume grew by 14.3%.
The group defines “specialty food” as “foods and beverages that exemplify quality, innovation and style in their category. Their specialty nature derives from some or all of the following characteristics: their originality, authenticity, ethnic or cultural origin, specific processing, ingredients, limited supply, distinctive use, extraordinary packaging or specific channel of distribution or sale. By virtue of their differentiation in their categories, such products maintain a high perceived value and often command a premium price.”)