Natural & Specialty Foods Retail Industry Overview

Companies that retail specialized lines of foods, including organic and natural produce and other foods; also kosher meats and other specialty products.

Summary

A sweet spot in an otherwise sour food market is the natural/organic and specialty foods niche of the grocery business. While traditional supermarket chains have struggled for years with shrinking market share and profits, the nation’s #1 purveyor of natural and organic foods, Whole Foods Market, has experienced double-digit sales growth.

Full Natural & Specialty Foods Retail Industry Description

Growth in Specialty Food Sales

Specialty food sales increased almost 15 percent between 2005 and 2006, according to Mintel. Products introduced in gourmet stores, specialty retailers, and health food stores have driven growth. Most new products came from the confectionery, beverage, and fruit and vegetable categories. Increased availability through mainstream channels has exposed specialty foods to a broad range of consumers and helped grow the market.

Full Natural & Specialty Foods Retail Industry Trends

• A Matter of Taste Inc.
• Bristol Farms
• Earth Fare, Inc.

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Hoover's has developed its own industry classifications to better serve its customers. These classifications are mapped to the North American Industry Classification System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system. The Natural & Specialty Foods Retail maps to a number of NAICS codes including:

Full Natural & Specialty Foods Retail Industry Codes

• Consumer Healthcare Products Association
  
• Food Marketing Institute
  
• Organic Agriculture Centre of Canada
  

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