Full belly: Despite favorable consumer preference trends, growth will decelerate

The Specialty Food Stores industry in New York sells specialty and premium food products, which include a variety of baked goods, candy and chocolates, nuts and snacks, artisanal cheese and yogurt, packaged coffee and tea and dozens of gourmet foods. Over the past five years, the industry has grown steadily as rising disposable income levels and higher consumer spending have driven overall economic recovery. In the coming years, the industry is expected to continue expanding steadily as economic conditions improve and a greater share of Americans develop a taste for specialty, premium or all-natural foods. Competition, however, will continue to hinder industry operations as consumers do the bulk of their shopping in grocery and wholesale stores...read more.

Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 12-17
2.7%
Forecast Growth 17-22
Profit
Employment
11,144
Businesses
4,491

Industry Threats & Opportunities

  • The industry will be challenged by greater competition from natural food stores and regular supermarkets
  • The number of companies operating in this industry has been steadily expanding
  • The success of individual industry operators will be based on the variety of products offered
  • Industry Report - Industry Locations Chapter

    As is common with a retail industry, the location of establishments within the Specialty Food Stores industry in New York falls broadly in line with population distribution. New York City, which accounts for 43.0% of New Yok's total population, is home to 52.3% of industry establishments. Long Island and the Hudson Valley are the second- and third-most populous regions of New York, accounting for 14.5% and 11.8% of the state's population, respectively. Unsurprisingly, these two regions have the second- and third-highest share of industry establishments, with Long Island accounting for 18.6% and the Hudson Valley accounting for 11.1%. The remaining 18.0% of industry establishments are distributed among New York's other regions, with no single region accounting for over 5.0% o...purchase to read more.

    Additional Insights for the Specialty Food Stores in New York Industry

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

  • Maintenance of excellent customer relations
  • Having a clear market position
  • Attractive product presentation
  • IBISWorld analysts also discuss how external factors such as Per Capita Disposable Income in New York and Consumer Spending in New York in the Specialty Food Stores in New York industry impact industry performance..

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    What's in this report

    What is the Specialty Food Stores in New York Industry?

    Stores in this industry are specialized retailers of premium food products, including baked goods, candy and chocolate, snacks, dairy products, coffee, tea, soft drinks and gourmet foods. The industry only retails packaged products not sold for immediate consumption. This industry also does not include butcher shops, seafood markets or produce markets. Producers of chocolate, bread and bakery goods are excluded from this industry as well.

    Industry Products
  • Bakery products
  • Candy and snacks
  • Dairy products
  • Coffee and tea
  • Meats and eggs
  • Gourmet prepared foods
  • Industry Activities
  • Retailing candy
  • Retailing confectionery products
  • Retailing packaged nuts
  • Retailing packaged coffee and tea
  • Retailing dairy products
  • Retailing gourmet foods
  • Retailing soft drinks
  • Retailing spices
  • Retailing organic and health foods
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per Capita Disposable Income in New York
  • Consumer Spending in New York
  • External competition for the Specialty Food Stores industry
  • Healthy eating index

  • Current Performance
  • Rising demand
  • Industry competition and structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Participation and profit
  • External competition
  • Table: Specialty Food Stores in New York Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Caterers
  • Consumers

  • Key Selling Industries
  • Bread Production
  • Coffee Production
  • Confectionery Wholesaling
  • Dairy Wholesaling
  • Seasoning, Sauce and Condiment Production
  • Soft Drink, Baked Goods & Other Grocery Wholesaling
  • Tea Production

  • Products & Services
  • Other
  • Bakery products
  • Candy and snacks
  • Dairy products
  • Coffee and tea
  • Meats and eggs
  • Gourmet prepared foods
  • Chart: Specialty Food Stores in New York Industry Products and Services Segmentation

  • Major Markets
  • Consumers aged 22 to 39
  • Consumers aged 40 to 51
  • Consumers aged 55 to 70
  • Consumers aged 70+
  • Chart: Major Market Segmentation for the Specialty Food Stores in New York Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesOther
  • Chart: Cost Structure Benchmarking – Sector vs Specialty Food Stores in New York

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Specialty Food Stores in New York Industry

  • Dylan's Candy Bar, It'Sugar LLC, Murray's Cheese Shop, Scarborough Fare,
  • Table: Dylan's Candy Bar - financial performance
  • Table: It'Sugar LLC - financial performance
  • Table: Murray's Cheese Shop - financial performance
  • Table: Scarborough Fare - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Specialty Food Stores in New York 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 in New York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Per capita disposable income in New York (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Big-Box Store
  • A retail store that is differentiated by its sheer size and large range of products, including electronics, household goods and other consumer products.
  • Brick-And-Mortar
  • A store that has a physical presence and location, as opposed to an online retailer.
  • 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?

    The Specialty Food Stores in New York industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

    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
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    This report on Specialty Food Stores in New York:
    • 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 in New York 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 in New York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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