For goodness bakes: Health consciousness and evolving consumer palates boosted industry demand

The Specialty Food Stores industry in Canada sells specialty food products, such as baked goods, candy and snacks, artisanal cheeses and premium packaged coffee. Operators sell products labelled as organic, gourmet or all-natural. Thus, industry goods are differentiated from standard foods sold at mainstream retail and grocery outlets. Increasingly health-conscious consumer preferences and disposable income growth have enabled operators to charge a premium for industry products. While improvements in the economy and favourable shifts in consumer preferences have helped boost industry revenue over the past five years, rising external competition has gradually constrained the performance of specialty food stores...read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 13-18
3.2%
Forecast Growth 18-23
Profit
Employment
23,693
Businesses
6,731
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Profit margins have risen, withstanding price-based competition from external industries
  • The organic and health food categories have been key drivers of industry growth
  • Demand varies widely across different product segments
  • Industry Report - Industry Products Chapter

    Candy and snacksConfectioneries and snacks represent the largest line of products sold by specialty food stores, accounting for 29.0% of industry revenue in 2018. Specialty food stores that specialize in confections typically focus on premium candy varieties such as old-fashioned taffy or premium chocolate. Other specialty food stores sell a wide range of non-GMO, organic or otherwise all-natural snacks such as trail mix, snack bars, jerky and gourmet popcorn. This segment has grown steadily over the past five years, as Canadians have chosen to snack more often throughout the day.Bakery productsBaked goods are estimated to account for 22.6% of industry revenue in 2018. Bak...purchase to read more.

    Additional Insights for the Specialty Food Stores Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Specialty Food Stores Industry are

  • Attractive product presentation
  • Experienced work force
  • Having a clear market position
  • IBISWorld analysts also discuss how external factors such as Demand from supermarkets and grocery stores and Per capita disposable income in the Specialty Food Stores industry impact industry performance..

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    What's in this report

    What is the Specialty Food Stores Industry?

    Operators in this industry retail specialized food products, including baked goods, confectionery, nuts, dairy products, coffee, tea and soft drinks. This industry only retails packaged products and excludes establishments that sell products for immediate consumption, such as coffee shops. Butcher shops, seafood markets and produce markets are also excluded from this industry, along with producers of chocolate, bread and bakery goods.

    Industry Products
  • Bakery products
  • Dairy products
  • Candy and snacks
  • Coffee and tea
  • Meats, seafood and eggs
  • Industry Activities
  • Retailing baked goods (not baked on premises)
  • Retailing candy
  • Retailing confectionery products
  • Retailing dairy products
  • Retailing gourmet foods
  • Retailing organic and health foods
  • Retailing packaged coffee and tea
  • Retailing packaged nuts
  • Retailing soft drinks
  • Retailing spices
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from supermarkets and grocery stores
  • Per capita disposable income
  • Adult obesity rate
  • Population

  • Current Performance
  • Increasing competition
  • Healthy trends
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Economic trends and consumer tastes
  • External competition intensifies
  • Table: Specialty Food Stores Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Specialty Food Stores Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Caterers in Canada
  • Consumers in Canada

  • Key Selling Industries
  • Candy Production in Canada
  • Coffee & Tea Production in Canada
  • Cookie, Cracker & Pasta Production in Canada
  • Dairy Wholesaling in Canada
  • Seasoning, Sauce and Condiment Production in Canada

  • Products & Services
  • Other
  • Candy and snacks
  • Bakery products
  • Coffee and tea
  • Dairy products
  • Meats, seafood and eggs
  • Chart: Specialty Food Stores Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Consumers aged 35 to 54
  • Consumers aged 18 to 34
  • Consumers aged 55 and older
  • Chart: Major Market Segmentation for the Specialty Food Stores Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Specialty Food Stores

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Specialty Food Stores Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Specialty Food Stores Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Specialty Food Stores Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Per Capita Disposable Income (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Brick-And-Mortar
  • A store that has a physical presence and location, as opposed to an online retailer.
  • Organic Foods
  • Foods produced without using synthetic pesticides and fertilizers.
  • Radio Frequency Identification (Rfid)
  • A technology that tracks products from the time they leave the assembly line, to the time they leave the store by releasing continuous signals from a chip.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Specialty Food Stores market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Specialty Food Stores:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Specialty Food Stores market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Specialty Food Stores, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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