Food Industry: Sales Forecasted to Cross $207 Billion in 2023

Boom in Specialty Food Industry: Sales Forecasted to Cross $207 Billion in 2023

A recent report published by the Specialty Food Association projects that sales in the food and beverage sector are set to surpass $207 billion in 2023.

The thriving specialty food and beverage sector is set to cross a significant milestone with projected sales of $207 billion this year, as revealed by a recent Specialty Food Association (SFA) report.

The industry, known for its diverse and innovative range of artisanal products, has shown impressive resilience despite the ongoing global pandemic. This year alone, the industry is projected to see a growth of $6 billion in sales. The 2023-24 State of the Specialty Food Industry report uncovers a particular interest in categories such as cheese and plant-based cheese, frozen and refrigerated meat, poultry, seafood, chips, pretzels, and snacks.

Celebrating its 20th anniversary, the State of the Specialty Food Industry Report is an essential resource for industry trends, sales data, and category rankings in the specialty food and beverage market.

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The SFA, a not-for-profit trade association, serves as a key player in the specialty food industry, supporting thousands of businesses, from food makers to retailers. Apart from providing valuable industry insights, the SFA hosts North America’s largest specialty food industry events, the Fancy Food Shows, and honors industry excellence with the sofi™ Awards.

The Summer Fancy Food Show kicks off Sunday, June 25, at the Javits Center in New York City and ends Tuesday, June 27. You can catch the highlights in real time by watching their live stream of the show here. Beware, visiting their site may make you hungry!

If you want to reach more food and beverage consumers at your next trade show, we’re ready to bring your goals to life. Give The Trade Group a call at 800-343-2005.

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