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Specialty Foods Global Market Report 2020-30: Covid 19 Growth and Change

Region:Global

Product Code:7509

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Published On

May 2020

Total pages

400 Table of Content

Market Overview
Scope Of The Report
Product covered
Table Of Content
Research Methodology
FAQs

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About the Report

Major players in the specialty foods market are Compass Group, Chobani, World Central Kitchen, Eden Creamery, AeroFarms, Safe Catch Foods, Union Wine Co., Daily Harvest, a2 Milk, and Amy's Kitchen.

The global specialty foods market is expected to decline from USD 165.06 billion in 2019 to USD 145.25 billion in 2020 at a compound annual growth rate (CAGR) of -12%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach USD 209.47 billion in 2023 at CAGR of 12.98%.

The market for specialty foods consists of sales of specialty foods and their related services. Specialty foods are made from high quality ingredients and have limited distribution with unique or beautiful packaging. The specialty foods consist of cheese & plant-based cheese, non-RTD cocoa and coffee, refrigerated and frozen poultry/seafood/meat, yogurt, candy, pretzels/snacks/chips, bread & baked goods, and others.

North America was the largest region in the specialty foods market in 2019.

In August 2018, Indiana Packers Corporation (IPC), producer of Indiana Kitchen premium pork products announced the acquisition of Specialty Foods Group, LLC (SFG) based in Owensboro, Kentucky for a purchase-price between USD 25-27 million. The acquisition is expected to strengthen the Indiana Packers Corporation (IPC) growth for manufacturing, marketing, sales, and raw material utilization capabilities. Specialty Foods Group LLC is a manufacturer and distributor of private-labeled and premium branded meat products in the USA.

The specialty foods market covered in this report is segmented by product type into cheese and plant-based cheese; frozen or refrigerated meat, poultry, and seafood; chips, pretzels, and snacks; bread and baked goods; chocolate and other confectionery; others and by distribution channel into food service; retail; online.

The high cost of specialty food is likely to hinder the growth of the specialty foods market during the period. Specialty foods are made from high-quality ingredients such as gluten-free, non-GMO, and ingredients rich in vitamins and minerals, thus include a higher cost of raw materials. According to specialty foods association, the high cost of ingredients, certifications, and production is increases the prices of specialty foods making it unaffordable for the large group of the populace. Therefore, the high cost of specialty foods is predicted to hinder the growth of the specialty foods market during the forecast period.

The launch of high quality and innovative products such as plant-based, convenience, better-for-you, non-GMO products with authenticity, and products with unique attributes such as low fat, low calorie, low sodium, high protein, no dairy and organic is a major trend shaping the growth of the specialty foods industry. For instance, in February 2020, PANOS Brands, engaged in production and sales of a unique portfolio of specialty and natural brands announced the launch of its new products which includes Amore Organic Ready-To-Eat Legumes, KAME Asian Rice Crackers, Amore Organic Ready-To-Eat Legumes, Chatfield's premium allergen-safe Organic Baking Bars, Andrew & Everett rBGH-BST Hormone Free Melting Cheese, and MI-DEL Organic Apple Cinnamon Cookies. Therefore, the launch of new innovative and healthy products is likely to be a major trend driving the sales of the specialty foods industry.

The growth in the number of millennials preferring at-home and healthy meals coupled with growing interest in having nutritious food for a healthy lifestyle is increasing the demand for specialty foods. According to Specialty Foods Association (SFA), millennials are twice likely to plan at-home meals and high preferences for specialty products to create interesting and healthy eating experiences. Moreover, according to the research from the NDP Group in 2019, millennials, gen X, and baby boomers are expected to eat more meals at home. Thus, growth in at-home cooking activities of millennials and preferences for healthy foods is anticipated to boost the revenue for specialty foods market over the forthcoming years.

Scope of the Report

Products

1) By Product Type: Cheese and Plant-based cheese; Frozen or refrigerated meat, poultry, and seafood; Chips, Pretzels, and Snacks; Bread and Baked goods; Chocolate and Other Confectionery; Others 2) By Distribution Channel: Food Service; Retail; Online

Companies

Compass Group; Chobani; World Central Kitchen; Eden Creamery; AeroFarms; Safe Catch Foods; Union Wine Co.; Daily Harvest; a2 Milk; Amy's Kitchen; Archer Daniels Midland Company; E.I. du Pont de Nemours and Company; Cargill, Incorporated; Kerry Group; Ingredion Incorporated; Tate & Lyle PLC; Pacmoore Products Inc.

1. Executive Summary

2. Specialty Foods Market Characteristics

3. Specialty Foods Market Size And Growth

3.1. Global Specialty Foods Historic Market, 2015-2019, USD Billion

3.1.1. Drivers Of The Market

3.1.2. Restraints On The Market

3.2. Global Specialty Foods Forecast Market, 2019-2023F, 2025F, 2030F, USD Billion

3.2.1. Drivers Of The Market

3.2.2. Restraints On the Market

4. Specialty Foods Market Segmentation

4.1. Global Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Cheese and Plant-based cheese

Frozen or refrigerated meat, poultry, and seafood

Chips, Pretzels, and Snacks

Bread and Baked goods

Chocolate and Other Confectionery

Others

4.2. Global Specialty Foods Market, Segmentation By Distribution Channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Food Service

Retail

Online

5. Specialty Foods Market Regional And Country Analysis

5.1. Global Specialty Foods Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

5.2. Global Specialty Foods Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

6. Asia-Pacific Specialty Foods Market

6.1. Asia-Pacific Specialty Foods Market Overview

6.2. Asia-Pacific Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

7. China Specialty Foods Market

7.1. China Specialty Foods Market Overview

7.2. China Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,USD Billion

8. India Specialty Foods Market

8.1. India Specialty Foods Market Overview

8.2. India Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

9. Japan Specialty Foods Market

9.1. Japan Specialty Foods Market Overview

9.2. Japan Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

10. Australia Specialty Foods Market

10.1. Australia Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

11. Indonesia Specialty Foods Market

11.1. Indonesia Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

12. South Korea Specialty Foods Market

12.1. South Korea Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

13. Western Europe Specialty Foods Market

13.1. Western Europe Specialty Foods Market Overview

13.2. Western Europe Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

14. UK Specialty Foods Market

14.1. UK Specialty Foods Market Overview

14.2. UK Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

15. Germany Specialty Foods Market

15.1. Germany Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

16. France Specialty Foods Market

16.3. France Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

17. Eastern Europe Specialty Foods Market

17.1. Eastern Europe Specialty Foods Market Overview

17.2. Eastern Europe Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

18. Russia Specialty Foods Market

18.1. Russia Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

19. North America Specialty Foods Market

19.1. North America Specialty Foods Market Overview

19.2. North America Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

20. USA Specialty Foods Market

20.1. USA Specialty Foods Market Overview

20.2. USA Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

21. South America Specialty Foods Market

21.1. South America Specialty Foods Market Overview

21.2. South America Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

22. Brazil Specialty Foods Market

22.1. Brazil Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

23. Middle East Specialty Foods Market

23.1. Middle East Specialty Foods Market Overview

23.2. Middle East Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

24. Africa Specialty Foods Market

24.1. Africa Specialty Foods Market Overview

24.2. Africa Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

25. Specialty Foods Market Competitive Landscape And Company Profiles

25.1. Specialty Foods Market Competitive Landscape

25.2. Specialty Foods Market Company Profiles

25.2.1. Compass Group

25.2.1.1. Overview

25.2.1.2. Products and Services

25.2.1.3. Strategy

25.2.1.4. Financial Performance

25.2.2. Chobani

25.2.2.1. Overview

25.2.2.2. Products and Services

25.2.2.3. Strategy

25.2.2.4. Financial Performance

25.2.3. World Central Kitchen

25.2.3.1. Overview

25.2.3.2. Products and Services

25.2.3.3. Strategy

25.2.3.4. Financial Performance

25.2.4. Eden Creamery

25.2.4.1. Overview

25.2.4.2. Products and Services

25.2.4.3. Strategy

25.2.4.4. Financial Performance

25.2.5. AeroFarms

25.2.5.1. Overview

25.2.5.2. Products and Services

25.2.5.3. Strategy

25.2.5.4. Financial Performance

26. Key Mergers And Acquisitions In The Specialty Foods Market

27. Specialty Foods Market Trends And Strategies

28. Specialty Foods Market Future Outlook and Potential Analysis

29. Appendix

29.1. Abbreviations

29.2. Currencies

29.3. Research Inquiries

29.4. The Business Research Company

29.5. Copyright And Disclaimer

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