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Specialty foods lead expansion of food gifting market
Today's Restaurant Internet Exclusive
Wednesday, 15 December 2010 12:07

Gifts_Homepage_1New York, NY - Specialty foods have become the foundation of the U.S. market for food gifting, which has helped the industry expand sales and product offerings in a challenged economy where few other areas of gift-giving have found success, according to Food Gifting in the U.S., 2nd Edition, from market research publisher Packaged Facts.

“There’s a reason why specialty foods are the main components of food gifts, especially popular items such as gift baskets,” says Don Montuori, publisher of Packaged Facts. “People want to give gifts that are that are unique, personal, indulgent, convenient, and fun. For many consumers, buying specialty foods during recession is an affordable luxury that meets the criteria of their ‘ideal’ gift for others or even themselves.”

Packaged Facts estimates the overall market for gift-giving in the U.S. increased 7% from $113 billion in 2007 to $121 billion in 2009. Likewise, the total market for food gift-giving in the U.S. grew from $16 billion in 2007 to $18 billion in 2009, representing a 9% increase. Packaged Facts projects that healthy growth across all food gifting channels will propel the market past $21 billion by 2014.

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