Specialty Food Stores in the US - Industry Market Research Report

January 2022 •
38 pages •
Report ID: 237441 •
Format: PDF

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Fully stocked: Industry profitability is forecast to continue improving as consumer spending increases

Abstract

Specialty Food Stores in the US
Although improved economic conditions and shifts in consumer preferences have been beneficial to the Specialty Food Stores industry, rising competition from other industries has constrained growth for specialty food stores over the past five years. In particular, industry operators have experienced intense competition from the specialty food aisles of traditional supermarkets and grocery stores. However, these conditions were more than offset by rising health awareness and a shifting consumer preference toward premium, all-natural foods. Over the five years to 2024, the industry is expected to experience greater competitive pressure from natural food stores and regular supermarkets, both of which are increasingly focused on offering the same products sold by industry operators. Accordingly, industry growth is expected to decelerate slightly, despite favorable consumer preference trends and increasing disposable income levels.

Stores in this industry are specialized retailers of premium food products including baked goods, candy and chocolate, snacks, dairy products, coffee, tea, soft drinks and gourmet foods. The industry only retails packaged products not sold for immediate consumption. This industry does not include butcher shops, seafood markets or produce markets. Producers of chocolate, bread and bakery goods are also excluded from this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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