Specialty Food Sales up 12.9%, Far Outpacing all Food Sales

About two-thirds of consumers purchase specialty foods, leading the industry to $140.3 billion in retail and foodservice sales in 2017, an 11 percent increase over 2015, show the findings of the State of the Specialty Food Industry 2018 report, published by the Specialty Food Association in collaboration with Mintel.

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SmartLabel Is Rapidly Taking Over the Retail Front

Industry efforts to get in front of the labeling debate with the SmartLabel initiative is both meeting consumer demand for transparency and boosting sales, prompting initiative leaders Grocery Manufacturers Association (GMA) and Food Marketing Institute (FMI) to launch a campaign in a bid to raise consumer awareness.

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Balancing authenticity and innovation

Regional street foods are playing a more influential role on restaurant menus. Such chains as The Cheesecake Factory, and others known for featuring international dishes that honor the original recipes, are keeping close tabs on what’s “hot” at street level.

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Recovering Vitality and Relevance in the Next Five Years

Food retailing has seen steady growth in competition and in order to succeed, retailers must understand how to differentiate themselves. Trading relationships between retailers and manufacturers have also been impacted. Collaboration is becoming a necessity for big food manufacturers and retailers. CPGs need to understand how much time they should invest in this type of collaboration and the best strategies for execution.

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HelloFresh Retail Range

Meal kit delivery company HelloFresh has expanded into the retail segment for the first time with the introduction of a meal kit range, initially available from 581 Giant Food and Stop & Shop stores throughout the US.

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