About the Book
There has never been a better time to be a local, regional, or emerging food brand. An overwhelming number of market indicators suggest that there is an unprecedented amount of volatility in the food industry:
- Smaller and private food brand manufacturers grew more rapidly (4.0 percent growth), than the 25 biggest U.S. food and beverage manufacturers (1.0 percent growth) between 2009 and 2013. (Deloitte Consulting, Food Marketing Institute, and the Grocery Manufacturers Association 2015 study)
- The USDA predicts that the sales of locally produced foods, which hit $12 billion in 2014, will surge to $20 billion by 2019. (fooddive.com)
- Opinions and attitudes toward traditional national food companies are changing, with consumers showing high levels of distrust in those companies and their brands. (adage.com, 2015)
- According to our retail buyer interviews, fully aware local sourcing is trending and actively building relationships, and buyers are looking to small brands for partnership and innovation.
All these evolving factors—the increasing influence of millennials, the desire for local products, and a distrust in “Big Food”—add up to significant leverage for local, small, or mid-sized food companies.
Now is the time to strike. Many industry analysts say that today’s volatility will create big opportunities for emerging food brands, with some of them comparing the current rise of smaller food brands to the high-tech start-up boom in Silicon Valley not so long ago.