Dublin, June 04, 2020 (GLOBE NEWSWIRE) -- The "Specialty Foods Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This provides the strategists, marketers and senior management with the critical information they need to assess the global specialty foods market.
The global specialty foods market is expected to decline from $165.06 billion in 2019 to $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 $209.47 billion in 2023 at CAGR of 12.98%.
This report focuses on the specialty foods market which is experiencing strong growth. the report gives a guide to the specialty foods market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
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Where is the largest and fastest growing market for the specialty foods? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? the Specialty Foods global market report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. it traces the market's historic and forecast market growth by geography. it places the market within the context of the wider specialty foods market, and compares it with other markets.
- the market characteristics section of the report defines and explains the market.
- the market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- the regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. it covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- the trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- the specialty foods market section of the report gives context. it compares the specialty foods market with other segments of the specialty foods market by size and growth, historic and forecast. it analyses GDP proportion, expenditure per capita, specialty foods indicators comparison.
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 $ 25-27 million. The acquisition is expected to strengthen the Indiana Packers Corporation's (IPC) growth in manufacturing, marketing, sales, and raw material utilization capabilities. Specialty Foods Group LLC is a manufacturer and distributor of private-labelled 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 increasing the prices of specialty foods making it unaffordable for the large group of the populace.
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 highly prefer 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 combined with preferences for healthy foods is anticipated to boost the revenue for specialty foods market over the forthcoming years.
Key Topics Covered:
1. Executive Summary
2. Specialty Foods Market Characteristics
3. Specialty Foods Market Size And Growth
3.1. Global Specialty Foods Historic Market, 2015 - 2019, $ 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, $ 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, $ Billion
4.2. Global Specialty Foods Market, Segmentation By Distribution Channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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, $ Billion
5.2. Global Specialty Foods Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6. Asia-Pacific Specialty Foods Market
7. China Specialty Foods Market
8. India Specialty Foods Market
9. Japan Specialty Foods Market
10. Australia Specialty Foods Market
11. Indonesia Specialty Foods Market
12. South Korea Specialty Foods Market
13. Western Europe Specialty Foods Market
14. UK Specialty Foods Market
15. Germany Specialty Foods Market
16. France Specialty Foods Market
17. Eastern Europe Specialty Foods Market
18. Russia Specialty Foods Market
19. North America Specialty Foods Market
20. USA Specialty Foods Market
21. South America Specialty Foods Market
22. Brazil Specialty Foods Market
23. Middle East Specialty Foods Market
24. Africa Specialty Foods Market
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. About the Publisher
29.5. Copyright And Disclaimer
Companies Mentioned
- 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.
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