Purchasers of gourmet food products may make some concessions to stay within budget, but they are not wiling to compromise on sophisticated taste—they are merely finding more wallet-friendly ways to indulge. That was the major finding reported in Packaged Facts’ Gourmet, Specialty and Premium Foods, Beverages and Consumer Trends in the U.S., 8th Edition.
- Changes in marketing strategy and a decline in consumers dining outside the home has helped gourmet products increase sales to more then $67 billion in 2009, compared to $65 billion the previous year
- About 20% of consumers seek these high end products and over 30% are willing to pay more for them
- It is estimated that in the next five years, the gourmet products market will approach $87 billion
- Gourmet retailers have reclaimed food dollars by developing “restaurant quality” items that help budget-savvy consumers bring the experience home