Specialty Food Magazine

Summer 2018

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/986636

Contents of this Issue


Page 100 of 191

S10 STATE OF THE SPECIALTY FOOD INDUSTRY 2018 Protein 20g energy bar Protein 20g energy bar Protein 20g energy bar PERFORMANCE JERKY P 2 SPECIALTY FOODS— WHAT WILL SELL IN THE FUTURE? Better-for-you, functional, and health-forward foods and beverages will stay on the radar over the next five years, according to Mintel's category forecasts. Fresh items like refrigerated entrees and refrig- erated juices and functional beverages are expected to grow 44.7 percent and 49 percent, respectively, as consumers seek out the benefits from macro trends like fresh and convenience. HEALTH HALO REMAINS THE TREND + "Everything is health focused. Our core audience is millennials [and Gen Xers] from 24 to mid- 40s. These individuals have families, and they're saying, 'What's best for my kids and myself?'" "The demand for clean, minimally processed food is only going to get more mainstream. I look at it generationally, and the first half of the boomer generation is buying differently than the second half. Gen Xers and millennials are buying differently … and their kids are going to be buying more differently, and with more people seeking cleaner, simpler foods it's only going to increase demand for even cleaner and more simple foods," says a vice president of sales and marketing for a specialty condi- ment category. "Everything is health focused," agrees the head of shopper marketing for a specialty food brand. "Our core audience is millennials [and Gen Xers] from 24 to mid-40s. These individuals have families, and they're saying, 'What's best for my kids and myself?'" This demand will put producers and their business values and production methods front and center. "The producer has become the most relevant in the supply chain. As categories like local and organic grow, the supplier is going to continue to be more relevant," says an owner of a specialty grocery. Younger consumers are also less brand-loyal than genera- tions before them, a mindset that is benefiting small companies and new upstarts. "Local is going to become bigger and bigger all the time in response to enormous multinational companies," notes a retailer. On the foodservice side, menus will emphasize traditional recipes rather than modernized/fusion recipes. "With traditional recipes, you don't need to modify them to make them healthier," says a chef of a New York City Mediterra- nean restaurant. "It's about bringing awareness to food preparation, dietary choices, and ingredients that were used hundreds and thousands of years ago, and applying them now." Water has emerged as a specialty food darling, poised for 76.5 percent growth over the next five years, a direct result of SFCs turning away from sugar-filled sodas and soft drinks. Flavored sparkling waters have especially grown in response to that shift. Plant- or tree-derived waters have an increasing base, as do those with added functional ingredients. Interestingly, despite the rise of plant-based foods (see next page), the protein craze is projected to continue. Jerky and meat snacks are forecast to grow 65.2 percent by 2022, driven in part by high-protein diets as well as flavor innovations in the category. Plant-based, meat-vegetable hybrid products could offset concerns about cholesterol or sodium. The supply chain does caution against "trend fatigue," with the near-constant array of the latest food trends having less stickiness than in years past, says Mintel. Clean, health-oriented foods may be the most lasting food trend to latch on to.

Articles in this issue

Archives of this issue

view archives of Specialty Food Magazine - Summer 2018