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Sales of Specialty Foods to Diminish Post-COVID-19

07/06/2020

According to the Specialty Food Association growth in purchase of specialty foods will diminish after home confinement is lifted.  This is attributed to decreased disposal income related to prevailing and future economic conditions.  Specialty foods include refrigerated plant-based meat alternatives, shelf-stable and refrigerated creamers, frozen breakfast foods, refrigerated meat, poultry and seafood and baked goods.

 

In 2019 specialty foods and beverages accounted for $159 billion in sales through brick and mortar stores. On-line sales attained $5.4 billion in 2019, up 50 percent from 2018.

 

Post COVID-19, retailers and distributors will cull low-volume items and will concentrate on essentials to the detriment of specialty foods.  Bill Lynch, Interim president of the Specialty Food Association stated, "food retailers are an essential business channel and while that has been beneficial to sales for our members the overall landscape is uncertain".