Consumers Fueling Billion-dollar Gourmet Sector

Nearly 20 percent of American adults can now be considered ‘gourmet consumers,' underlining a significant growth trend that food companies should be paying attention to. They are fueling a $41.2 billion industry, according to a new report and the market research group projects that the market for gourmet foods and beverages will top $62 billion by 2009. Higher disposable incomes and consumer’s more demand on quality ingredients drive consumers to buy gourmet at higher prices. Based on data from Simmons Market Research Bureau, the report estimates that 18.3 percent of adults try to eat gourmet food whenever they can. Gourmet products are made more available, appealing and affordable, including greater involvement in gourmet on the part of mainstream food marketers, expanding retail distribution of gourmet products and a growing synergy between the natural and gourmet foods industries. “More gourmet products are using natural and organic ingredients (and appealing to consumers' social consciences by offering products that are good for the environment and for the workers who produce them), and more natural foods retailers are carrying upscale, gourmet food and beverage items that meet their quality standards,” said Don Montuori, publisher of Packaged Facts. Convenience is another major force influencing everyday purchases of gourmet products. It is no coincidence that some of the fastest-growing products in this market — including bottled water, RTD beverages, bagged salads, and refrigerated “supermarket sushi” — benefit from the convenience angle in terms of portability, being fully prepared, ease of preparation, and no-mess consumption. http://www.foodnavigator-usa.com/news