Top Factor Driving Specialty Foods Market Growth in 2025: The Growing Demand For Specialty Foods Driven By Millennials' Health-Conscious At-Home Cooking

"What combination of drivers is leading to accelerated growth in the specialty foods market?
The rising trend among millennials for home-cooked and nutritious meals, accompanied by a heightened enthusiasm for a well-balanced diet for good health, is amplifying the need for specialty foods. Based on Specialty Foods Association (SFA) data, millennials are twice as likely to prepare meals at home and exhibit a strong preference for specialty products to facilitate intriguing and wholesome culinary experiences. Furthermore, the Culinary Visions study conducted in March 2022 surveyed more than 2,000 US consumers and revealed that 91% of them take pleasure in cooking at home. Consequently, the anticipated rise in revenue for the specialty foods market in the forthcoming years can be attributed to an increase in millennials' inclination towards home cooking and a taste for health-promoting food.

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What is the projected compound annual growth rate (CAGR) of the specialty foods market from 2025 to 2034, and what factors influence it?
The market size for specialty foods has seen a swift increase lately. The forecast suggests an expansion from $264.03 billion in 2024 to $300.92 billion in 2025, demonstrating a yearly compound growth rate (CAGR) of 14.0%. Factors such as food regulations and standards, marketing and branding techniques, retail and distribution networks, changing consumer tastes, and the surge in food tourism have contributed to the observed growth during the historical period.

In the forthcoming years, the specialty foods market size is anticipated to experience an expeditious expansion. By 2029, it is projected to reach a size of $473.56 billion, with a compound annual growth rate (CAGR) of 12.0%. The expected growth in the forecasted period can be ascribed to changes in the retail environment, creative packaging and display, the influence of diversity and ethnic cuisine, clear labelling and transparency, along with the increase in culinary tourism. The forecast period also foresees significant trends like online and direct-to-consumer sales, narrative and brand storytelling, localized and seasonal emphasis, the emergence of innovative ingredients and flavors and the rise in demand for gourmet convenience foods.

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How are the latest trends influencing the growth of the specialty foods market?
The specialty foods industry is growing significantly, driven by the introduction of high-quality, innovative offerings like plant-derived, convenient, healthier, non-GMO items with characteristics such as low fat, low calorie, low sodium, high protein, dairy-free, and organic. Take for example Century Pacific Food Inc., a food and beverage company based in the Philippines. In July 2022, they introduced a groundbreaking plant-based substitute called 'unMEAT Fish-free Tuna'. Completely absent of fish and made from non-GMO plant-based ingredients, this product has a distinctive composition, touting a low-fat profile while eliminating any traces of mercury or trans fats. The company diligently crafted this product to mimic the taste, texture, and visual appeal of tuna, despite being fully fish-free.

What are the major segments of the specialty foods market and their role in driving growth?
The specialty foods market covered in this report is segmented -

1) By Product Type: Cheese And Plant-Based Cheese, Frozen Or Refrigerated Meat, Poultry, And Seafood, Chips, Pretzels, And Snacks, Bread And Baked Goods, Other
2) By Consumer Generation: Gen-Z, Millennials, Gen-X, Baby Boomers
3) By Distribution Channel: Food Service, Retail, Online

Subsegments:
1) By Cheese And Plant-Based Cheese: Soft Cheese, Hard Cheese, Blue Cheese, Cream Cheese, Vegan Cheese
2) By Frozen Or Refrigerated Meat: Beef, Pork, Lamb, Processed Meat, Meat Alternatives
3) By Poultry And Seafood: Chicken, Turkey, Duck, Processed Poultry Products , Fresh Fish, Shellfish, Frozen Seafood, Smoked Seafood, Seafood Alternatives
4) By Chips: Potato Chips, Tortilla Chips, Puffed Snacks, Vegetable Chips
5) By Pretzels And Snacks: Hard Pretzels, Soft Pretzels, Pretzel Snacks, Nuts And Seeds, Trail Mix, Popcorn, Rice Cakes
6) By Bread And Baked Goods: Artisan Bread, Sourdough, Gluten-Free Bread, Flatbreads , Cakes, Pastries, Cookies, Muffins
7) By Others : Dark Chocolate, Milk Chocolate, White Chocolate, Chocolate Truffles, Gummie*s, Hard Candy, Licorice, Mints, Jams And Jellies, Sauces And Condiments, Pickles And Fermented Foods, Spices And Seasonings

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Which regions are key players in the growth of the specialty foods market?
Asia-Pacific was the largest region in the specialty foods market in 2024. Western Europe was the second-largest region in the specialty foods market report. The regions covered in the specialty foods market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the specialty foods market?
Major companies operating in the specialty foods market include Cargill Incorporated, Archer Daniels Midland Company, United Natural Foods Inc., Compass Group plc, DuPont de Nemours Inc., International Flavors & Fragrances Inc., Hormel Foods Corporation, Koninklijke DSM NV, Kerry Group plc, Ingredion Incorporated, Novozymes A/S, Tate & Lyle plc, AMCON Distributing Company, Lancaster Colony Corporation, Krispy Kreme Inc., Sensient Technologies, Calavo Growers Inc., The a2 Milk Company Limited, Chobani LLC, Amy's Kitchen Inc., Farmer Bros. Co., Beyond Meat Inc., Daily Harvest Inc., Bear Creek Corporation, American Spoon Foods Inc., Pacmoore Products Inc., AeroFarms LLC, Eden Creamery LLC, World Central Kitchen Inc., Axiom Foods Inc., Safe Catch Inc., Union Wine Company LLC

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What Is Covered In The Specialty Foods Global Market Report?

•Market Size Forecast: Examine the specialty foods market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the specialty foods market for a structured understanding.
•Key Players Overview: Analyze major players in the specialty foods market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the specialty foods market.
•Segment Contributions: Evaluate how different segments drive overall growth in the specialty foods market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the specialty foods market.
•Industry Challenges: Identify potential risks and obstacles affecting the specialty foods market.
•Competitive Landscape: Review strategic developments in the specialty foods market, including expansions, agreements, and new product launches.

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