III. Industry Analysis
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[Company Name]directly or indirectly competes with all foodservice providers nearby our store that offer similar products, mainly breakfast foods, breads, desserts, sandwiches and salads. Competition will come from supermarkets, restaurants, coffee shops, bakeries and other retail establishments. Direct competition will come from companies offering 100% natural, organic products like [Company Name].
Industry Statistics & Trends
According to a report, the cookie industry’s revenue was approximately $3.6 billion last year, with an estimated gross profit of 25.52%. Trends and data include:
- Health is strengthening as a food purchase mega factor, ranking third after taste and price, and above convenience.
- Frequent shoppers tend to be less health-conscious than the rest of the population, but they are still health-conscious.
- Shoppers say they are buying more reduced-fat milk (+30%), whole-grain products (+29%), and yogurt (+19%).
- More than half of shoppers are trying to avoid trans fat, total fat and saturated fat. Frequent dairy, deli, and bakery shoppers are more concerned about trans fat than the average shopper, but less concerned about a reduced-fat claim on products.
- More than a third of shoppers say that the calorie content of foods is very important to them when they shop in the dairy, deli, and bakery departments. Frequent deli shoppers are the most concerned, with about 40% of full-service and a similar portion of self-service customers indicating they place great importance on calories.
- Frequent shoppers in the self-service deli and self-service fresh bakery are more likely to buy organic and natural foods.
- Seven in ten consumers tried to increase their consumption of whole grains last year.
- About half of frequent deli and bakery shoppers say it’s important for products in these departments to contain added nutrients, such as vitamins or fiber. Added nutrition is ranked even more important by frequent shoppers in the dairy and full-service deli departments.
- In-store bakery items such as cookies (e.g., bakeries in supermarkets) had annual sales increased to $20 billion.
- Sales of bread products have been positively affected by the demise of the low carbs trend, growth of whole grains and an increased interest in crusty bread products.
- There has been growth in the cookie sales. Declines were reported for bagels, pies and donuts.