Connoisseurs Will Enjoy $96 Billion of Premium Foods and Beverages by 2012

By 2012 the gourmet/premium foods and beverages industry should rise to $96 billion, with the cheese and dairy sector expected to post the highest growth rate at 13%.

30/11/07 Connoisseurs craving gourmet, specialty and premium foods and beverages consumed mass quantities in 2007 valued at $59 billion -- a growth of 10.9% over 2006, according to Gourmet, Specialty and Premium Foods and Beverages in the U.S., a new report by market research publisher Packaged Facts. By 2012 the gourmet/premium foods and beverages industry should rise to $96 billion, with the cheese and dairy sector expected to post the highest growth rate at 13%.

As a growing population of gourmands seeks high quality and natural ingredients, a proliferating number of new gourmet/premium products are reaching the marketplace. This surge in products coupled with increased availability within supermarkets and convenience stores have contributed to the hearty growth in the gourmet/premium foods and beverages markets. By October of 2007, 15% of all new food & beverages introduced to the market fell into the gourmet category.

A synergy occurring between the gourmet and natural foods industries is helping to nourish consumers' desire for healthier food choices. Gourmet foods and beverages tagged as natural rose from 174 in 2006 to 259 in 2007. Simultaneously, national and independent supermarkets are quickly reinventing themselves with "fresh formats," carrying greater numbers of gourmet and specialty products to attract more customers.

"Mainstream supermarkets and grocery stores lead the market for gourmet/specialty foods and beverages, accounting for 52% of the total retail dollar sales in 2007," notes Tatjana Meerman, the Publisher of Packaged Facts. "We anticipate this broadening of the gourmet/premium market well into the next decade as growing numbers of marketers and retail channels offer an ever- increasing number of products to attract more customers."

Gourmet, Specialty and Premium Foods and Beverages in the U.S. provides a comprehensive and in-depth market analysis of gourmet/premium food and beverage products sold in the U.S. retail market. The report focuses on seven classifications; Beverages, Baked Goods, Pasta and Grains, Fresh Foods, Condiments and Sauces, RTE Meals, Cheese and Dairy Products and Ice Cream and Frozen Desserts.