Specialty food sales outpaced the growth of all food at retail – up 10.3% vs. 3.1%.
The Specialty Food Association’s (SFA) annual State of the Specialty Food Industry Report reveals that specialty food remains one of the fastest-growing segments of the food business. Fueled by increasing interest from both consumers and retailers, total sales jumped 9.8% between 2016-2018, reaching $148.7 billion last year.
Specialty food sales outpaced the growth of all food at retail – up 10.3% vs. 3.1%. Product innovation and the wider availability of specialty foods through mass-market outlets is playing a part in the industry’s success. Sales through foodservice represented 22% of sales, with retail taking the top spot with 76% of sales. While online represents less than 3% of sales, it has grown 41% since 2016.