The U.S. food market is a diverse landscape with many opportunities for innovative products from around the world. With market size there is opportunity, but without understanding and a solid strategy it is easy for products to get lost in the abyss. Prior to entering the market, we work with our partners to help them gain understanding and inform themselves prior to launch. Below is a very high level look at the U.S. market.
FACTS & STATS
Knowledge is power
Population: 311 million
Time Zones: 6 zones (4 continental)
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Population: 5.5 million
Time Zone: ETA (GMT -5)
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Atlanta has one of the largest metropolitan areas in the United States with a total population of more than 5.5 million.
Atlanta is a historic and modern day hub of commerce and its economy ranks 15th largest among world cities and 6th in the United States. With a temperate climate and warm southern hospitality Atlanta is a great place to work, live, and visit.
Food Market Channels
The foodservice channel in the United States is generally defined as "food which is not prepared at home". Total food sales for the channel have been slowly but steadily growing with revenues of just under $600 billion. The primary outlets in this channel are bars and restaurants, though it also includes hospitals, education, and travel and leisure. The foodservice channel is served almost exclusively by a network of distributors. There are a few national accounts which will buy direct, but this is the exception rather than the rule.
This channel includes outlets such as traditional supermarkets where consumers purchase food for home consumption. There are a number of sub-categories within this channel including supermarkets, warehouse clubs, supercenters, limited assortment store etc. Distribution can be handled several different ways depending on the product category and the retailer. Sales in this channel are roughly the same as the foodservice channel.
Specialty Food Market
Specialty foods are those that exhibit quality, innovation, and style in their category. These products often have a high perceived value and thus can command a higher retail price. Many imported products fall into this category due to their special and unique nature. Growth in this sector has been very strong over the last several years with sales topping $90 billion. These products can be found across numerous categories in traditional supermarkets and are not necessarily restricted to the international or natural aisle. There is also a vast network of gourmet food shops across the U.S. carrying a wide variety of specialty food items. Logistics are typically handled by specialty distributors.