Global Specialty Foods Market Report 2024

Specialty Foods Global Market Report 2023 – 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, Other Product Types), By Distribution Channel (Food Service, Retail, Online), By Consumer Generation (Gen-Z, Millennials, Gen-X, Baby Boomers) – Market Size, Trends, And Global Forecast 2023-2032

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Specialty Foods Market

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Specialty foods are unique foods that are made from high-quality ingredients and in small quantities.

The main product of specialty foods market types are cheese and plant-based cheese, frozen or refrigerated meat, poultry, and seafood, chips, pretzels, and snacks, bread and baked goods, chocolate and other confectionery, and others. Cheese is a nutritious food made mostly from the milk of cows and also from other mammals, including sheep, goats, buffalo, reindeer, camels, and yaks. Plant-based cheeses are made from a variety of nuts, most commonly cashews, almonds, and macadamias. The various types of distribution channels are food service, retail, and online.

The global specialty foods market is segmented -

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, Other Product Types

2) By Distribution Channel: Food Service, Retail, Online

3) By Consumer Generation: Gen-Z, Millennials, Gen-X, Baby Boomers

The global specialty foods market grew from $190.42 billion in 2022 to $218.75 billion in 2023 at a compound annual growth rate (CAGR) of 14.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global specialty foods is expected to grow from $361.3 billion in 2027 at a CAGR of 13.4%.

The growth in the number of millennials preferring at-home and healthy meals, coupled with a 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 giving high preferences for specialty products to create interesting and healthy eating experiences. Moreover, according to the Segmanta survey “The Ultimate Food Survey 2020”, a US-based DIY survey platform, conducted a study of more than 2,000 U.S. customers to learn about their thoughts on topics including eating habits, lifestyles, the consumption of fast food, preferred fast food joints, and others, comparison to other age groups studied, older Millennials (30-39 years old) are the most likely (4.4/5.0) to eat meals prepared at home. Thus, growth in millennials' at-home cooking activities and preferences for healthy foods are expected to boost revenue for the specialty foods market in the coming years.

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, Amy’s Kitchen.

The high cost of specialty foods market 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, which means they include a higher cost of raw materials. According to the specialty foods association, the high cost of ingredients, certifications, and production is increasing the prices of specialty foods, making them unaffordable for a large segment 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 include Amore Organic Ready-To-Eat Legumes, KA•ME 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.

In April 2021, Brazilian-based JBS SA, a meat processing company, announced that it would acquire Vivera, a European plant-based food company, for €341 million ($410 million). The deal includes three manufacturing facilities and a research and development centre located in the Netherlands. This acquisition is an important step to strengthen JBS SA's global plant-based protein platform. For the same reason, Vivera will give JBS a stronghold in the plant-based sector, with technological knowledge and capacity for innovation. Vivera produces a range of plant-based meat replacement products, and these products are distributed to retailers in more than 25 countries across Europe.

Asia-Pacific was the largest region in the speciality foods market in 2022. Western Europe was the second-largest region in the specialty foods market report. The regions covered in the specialty foods analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the specialty foods market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The specialty foods market consists of sales of cheese and plant-based cheese, non-RTD cocoa and coffee, refrigerated and frozen poultry/seafood/meat, yogurt, candy, pretzels/snacks/chips, bread & baked goods, and other specialty foods. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The specialty foods market research report is one of a series of new reports from The Business Research Company that provides specialty foods market statistics, including specialty foods industry global market size, regional shares, competitors with specialty foods market share, detailed specialty foods market segments, market trends and opportunities, and any further data you may need to thrive in the specialty foods industry. This specialty foods market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

    Table Of Contents

    1. Executive Summary

    2. Specialty Foods Market Characteristics

    3. Specialty Foods Market Trends And Strategies

    4. Specialty Foods Market – Macro Economic Scenario

    4.1 COVID-19 Impact On Specialty Foods Market

    4.2 Ukraine-Russia War Impact On Specialty Foods Market

    4.3 Impact Of High Inflation On Specialty Foods Market

    5. Specialty Foods Market Size And Growth

    5.1. Global Specialty Foods Historic Market, 2017-2022, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Specialty Foods Forecast Market, 2022-2027F, 2032F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Specialty Foods Market Segmentation

    6.1. Global Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ 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

    Other Product Types

    6.2. Global Specialty Foods Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Food Service

    Retail

    Online

    6.3. Global Specialty Foods Market, Segmentation By Consumer Generation, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Gen-Z

    Millennials

    Gen-X

    Baby Boomers

    7. Specialty Foods Market Regional And Country Analysis

    7.1. Global Specialty Foods Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    7.2. Global Specialty Foods Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    8. Asia-Pacific Specialty Foods Market

    8.1. Asia-Pacific Specialty Foods Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    9. China Specialty Foods Market

    9.1. China Specialty Foods Market Overview

    9.2. China Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

    10. India Specialty Foods Market

    10.1. India Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    11. Japan Specialty Foods Market

    11.1. Japan Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    12. Australia Specialty Foods Market

    12.1. Australia Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    13. Indonesia Specialty Foods Market

    13.1. Indonesia Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    14. South Korea Specialty Foods Market

    14.1. South Korea Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    15. Western Europe Specialty Foods Market

    15.1. Western Europe Specialty Foods Market Overview

    15.2. Western Europe Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    16. UK Specialty Foods Market

    16.1. UK Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    17. Germany Specialty Foods Market

    17.1. Germany Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    18. France Specialty Foods Market

    18.3. France Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    19. Eastern Europe Specialty Foods Market

    19.1. Eastern Europe Specialty Foods Market Overview

    19.2. Eastern Europe Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    20. Russia Specialty Foods Market

    20.1. Russia Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    21. North America Specialty Foods Market

    21.1. North America Specialty Foods Market Overview

    21.2. North America Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    22. USA Specialty Foods Market

    22.1. USA Specialty Foods Market Overview

    22.2. USA Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    23. South America Specialty Foods Market

    23.1. South America Specialty Foods Market Overview

    23.2. South America Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    24. Brazil Specialty Foods Market

    24.1. Brazil Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    25. Middle East Specialty Foods Market

    25.1. Middle East Specialty Foods Market Overview

    25.2. Middle East Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    26. Africa Specialty Foods Market

    26.1. Africa Specialty Foods Market Overview

    26.2. Africa Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    27. Specialty Foods Market Competitive Landscape And Company Profiles

    27.1. Specialty Foods Market Competitive Landscape

    27.2. Specialty Foods Market Company Profiles

    27.2.1. Compass Group

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Chobani

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. World Central Kitchen

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Eden Creamery

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. AeroFarms

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    28. Key Mergers And Acquisitions In The Specialty Foods Market

    29. Specialty Foods Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Table 3: Global Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 4: Global Specialty Foods Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 5: Global Specialty Foods Market, Segmentation By Consumer Generation, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 6: Global Specialty Foods Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 7: Global Specialty Foods Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 8: Asia-Pacific, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 9: China, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 10: India, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 11: Japan, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 12: Australia, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 13: Indonesia, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 14: South Korea, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 15: Western Europe, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 16: UK, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 17: Germany, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 18: France, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 19: Eastern Europe, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 20: Russia, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 21: North America, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 22: USA, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 23: South America, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 24: Brazil, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 25: Middle East, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 26: Africa, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 27: Compass Group Financial Performance
  • Table 28: Chobani Financial Performance
  • Table 29: World Central Kitchen Financial Performance
  • Table 30: Eden Creamery Financial Performance
  • Table 31: AeroFarms Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Figure 3: Global Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 4: Global Specialty Foods Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 5: Global Specialty Foods Market, Segmentation By Consumer Generation, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 6: Global Specialty Foods Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 7: Global Specialty Foods Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 8: Asia-Pacific, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 9: China, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 10: India, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 11: Japan, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 12: Australia, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 13: Indonesia, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 14: South Korea, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 15: Western Europe, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 16: UK, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 17: Germany, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 18: France, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 19: Eastern Europe, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 20: Russia, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 21: North America, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 22: USA, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 23: South America, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 24: Brazil, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 25: Middle East, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 26: Africa, Specialty Foods Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 27: Compass Group Financial Performance
  • Figure 28: Chobani Financial Performance
  • Figure 29: World Central Kitchen Financial Performance
  • Figure 30: Eden Creamery Financial Performance
  • Figure 31: AeroFarms Financial Performance
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