Specialty Food Industry Growth 2008

The NASFT just released their State of the Industry Report for 2009, which details activity, growth, and trends in the industry for 2008. Anna Wolfe from Gourmet News covered it here.

Specialty Food Sales grew by 8.4% last year, and I think everyone agrees that it is due in part to the fact that more people are eating out less (sorry to the foodservice segment) and spending more on better foods at home. I personally think we will continue to see this trend increase in 2009. We might not see 8% growth this year, but I highly doubt we will see a decline in growth as some have been predicting (hopping on the “gloom and doom” bandwagon). I’d be interested to see what others think about this report, as well as what people feel 2009 holds for the specialty food industry.

For us? Well, we are ramping up marketing, adding to our staff, and looking to grow by over 80% this year. We grew by over 40% last year, and so far have seen an influx of companies retaining our services (already doubling last year’s revenues for Q1). I have to say the industry has been pretty good to us!