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://specialtyfoodmagazine.epubxp.com/i/802137
• Forty-three percent of brokers say they will develop or further grow a private-label program. Clearly, distributors and retailers are asking for these products to add to their mix. • Brokers are another segment of the supply chain who see sustainable products growing in consumer interest in the next three years. Manufacturers and retailers both should be prepared to address the need. What You Need to Know Mean Annual Sales: $6,745,000 Mean # of SKUs: 2,125 Mean # of Stores Serviced: 978 Fastest Growing Channels Specialty Food Stores Conventional Supermarkets (e.g., Kroger, Safeway) Foodservice (e.g., restaurants, cafes, school/office cafeterias) Source: Mintel % THE SPECIALTY FOOD SUPPLY CHAIN DISTRIBUTORS alf of distributors surveyed saw sales grow 10 percent or more in 2016. Specialty foods comprise 86 percent of total SKUs that distributors carry and account for 84 percent of their total dollar sales. Special- ty food store sales make up an average of 37 percent of distributors' sales; conventional supermarkets account for 22 percent of sales. • Seventy percent of distributors plan to expand their specialty food offerings in 2017. Ongoing consumer interest in health and wellness products and beverages have their attention. • Eighty percent of distributors currently, or plan to, verify that their suppliers are complying with the Food Safety Modernization Act, a heads-up for manufacturers. • Distributors see growing consumer interest in sustainable and eco-friendly product claims over the next three years. Manufacturers and retailers should consider integrating this into their product development plans and shelf allotment. What You Need to Know Up 30% or more Up 20–29% Up 10–19% Up 1–9% Unchanged Down 1–9% 20% 10% 0% 10% 10% 20% 30% Dollar Sales Change in 2016 Source: Mintel 20% Up 30% or more Up 20–29% Up 10–19% Up 1–9% Unchanged Down 1–9% Down 10–19% Down 20–29% 20% 10% 0% 19% 5% 14% 24% 10% Dollar Sales Change in 2016 Source: Mintel 24% 0% 5% 10% 50% 30% 10% THE SPECIALTY FOOD SUPPLY CHAIN BROKERS rokers are not doing as well as other industry segments, with more than 40 percent reporting flat or declining sales. Specialty foods represent 79 percent of total SKUs that brokers carry and account for 78 percent of total sales. B H Mean Annual Sales: $3,654,762 Mean # of SKUs: 2,274 Fastest Growing Channels Natural Food Stores Specialty Food Stores Source: Mintel % 19% 19% 2016 At-a-Glance 2016 At-a-Glance STATE OF THE SPECIALTY FOOD INDUSTRY 2017 S7