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 The cooking and eat-at-home trend resulting from COVID restrictions benefited producers of specialty foods. According to the Specialty Foods Association, sales were 13 percent higher in 2020 attaining $170.4 billion. Protein including meat, poultry, seafood and cheese were the top categories in value although sales soared in all sectors including confectionary, entrees and condiments. Bill Lynch, president of the Association stated, “The ripple across all channels of the specialty food industry has been tremendous.” He added, “We have seen businesses flex their creativity in ways they never could have imagined including pop-up specialty food groceries in closed restaurants to meet demand by consumers”.
Going forward, specialty food manufacturers will face increased competition from major companies including Conagra Brands, Campbell Soup Company, Smithfield Foods, Post Holdings and Hormel Foods.
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Bill Lynch |