SFG is focused on the growing premium prepared food category, which includes ready to eat and prepared food products requiring limited preparation.
The products are usually sold in a frozen or fresh (refrigerated) format. They are distributed through the retail, foodservice or industrial channels, both branded and private label.
The market size is substantial with the frozen prepared food segment representing approximately $12.5 billion (including Hors d’oeuvres/snacks at $1 billion and Ethnic Food at $2.5 billion), augmented by the refrigerated prepared food market which in the retail channel alone, represents an additional $10 billion.
The growth rate of the prepared food segment is the highest in the food industry, varying from 6% to 20% depending on the category (the more premium, the higher) with Hors d’oeuvres and Ethnic Food leading the trend.