Food Gift-Giving Gains in Popularity, Even as Overall Gift Market Declines

New York, July 19, 2007— The market for food gifts, which grew a heaping 47% between 2004 and 2006, is expected to grow another 45% by 2010, reaching over $23 billion in sales, according to Food Gifting in the U.S. a new report from market research publisher Packaged Facts.

Overall gift sales experienced less joy and receiving. Continuing a longer-term trend embellished by increased self-gifting, or “one for you, one for me” shopping, which rose 8% between the 2005 and 2006 holiday seasons, rising gas prices, stagnant population growth for the under-14 crowd, and old-fashioned “what to buy” frustration, overall gift sales fizzled, dropping 8% for the 2004-2006 period.

Food gift sales, on the other hand, gained in popularity for many of the same reasons as electronic gifts and gift cards, the only other gift categories to post increases: Food gifts are sure to please and they can be shared. But food gifts also provide an “experience” or an indulgence — one that 26% of people polled by Packaged Facts admitted to buying for themselves.

Increasing customization and evolving food tastes, including the craving for more organic, ethnic, and wellness varieties, are expected to continue to drive sales into 2010.

“As more consumers enter the category, some for the first time, preferences will evolve to reflect changing food tastes overall,” notes Tatjana Meerman, Publisher of Packaged Facts. “One in ten shoppers is looking for healthy food gifts, and as the category matures, we expect to see more variation in specialty food gifts.”

Food Gifting in the U.S. provides a comprehensive look at the market for purchased food gifts. The report reviews both the consumer and corporate markets and examines gift-giving trends, offers competitor profiles, and identifies consumer trends and behaviors. The report is available from Packaged Facts by visiting http://www.packagedfacts.com/Food-Gifting-977956. It is also available at MarketResearch.com.

About Packaged Facts
Packaged Facts publishes market intelligence on a wide range of consumer industries, including consumer goods and retailing, food and beverage, and demographics. For more information visit www.PackagedFacts.com, or contact Tom Ehart at 240-747-3014, or tehart@marketresearch.com.