At the Summer Fancy Food Show, held June 30th-July 2nd in New York, 2,600 exhibitors and more than 200,000 products were featured, highlighting the latest food and beverage innovations. According to a new report from the Specialty Food Association and MintelInternational, “Nearly two-thirds of consumers buy specialty foods and beverages, catapulting the industry to $140.3 billion in retail and food service sales last year.”
Specialty food now has a nearly 16% share of the total food market, led by fresh, frozen, plant-based and refrigerated categories.
Denise Purcell, head of content at the Specialty Food Association, said, “Specialty is up about 13%, and all food is up about 1% in sales. That bodes very well for the industry.” He added, “Plant-based is so enormous that it’s almost not even a trend anymore; it’s more of a movement at this point.”
Specialty food consumer trends tend to be between the ages of 24 to 41, and 18 to 23, which are the ages pushing the industry forward. From their more open and adventurous palates and love for clean labels and local companies, Millenials demand companies keep up with their changing, expanding needs.
So, what foods led the way?
- Carbonated juices
- Asian flavors
- Tea-flavored ice cream
- Functional drinks
We’re looking forward to seeing plant-based food trends continually increase, year after year.
How about some meals incorporating the trends?
With these vegan recipes from our Food Monster App, you can enjoy some of these beloved favorites.
This Crunchy Cashew Asian Cauliflower Rice Salad incorporates both cauliflower and Asian flavors. This recipe is the perfect easy lunch or dinner which you can enjoy throughout the year. The cashews add some extra crunch.
Blackberry Lavender Ice Cream is a delicious way to enjoy a tea flavor in a cold dessert. Make new memories with this light, calming, but also decadent blackberry lavender ice cream.
This Fig and Caramelized Onion Flatbread is perfect for your next gathering or event and tastes delicious warm or cold. Enjoy the fig trend with this unique lunch or dinner option.