Frozen food thriving as consumers remains under pressure
according to new data from Kantar Worldpanel.
The frozen food sector is “continuing to succeed” despite difficult economic circumstances posting a 6% value growth for the year to 10 June, 2012, according to new data from Kantar Worldpanel.
The data shows that the category has expanded its value in all product sectors Y.O.Y.This is particularly clear in the case of meat and poultry which has grown 13% in value and 6% in volume as consumers continue to realise the financial and nutritional benefits of frozen meats.
Brian Young, director general of British Frozen Food Federation (BFFF), said: “Despite the UK entering a double-dip recession in the second quarter of 2012, the frozen food sector is continuing to thrive.“
As frozen food manufacturers continue to invest in premium NPD the value of the industry is continuing to grow despite economic instability. This is demonstrated in the ice cream category which, despite a 4.5% volume drop caused by bad weather, has seen a 4.4% value growth as consumers opt for luxury products.”
A particularly strong area of growth is in the potato products category which has seen 9.9% value growth in the last two quarters.
Other success stories from the figures, supplied by Kantar Worldpanel include fish and vegetables, which have experienced continued steady growth in value over the last two years, with respective growth at 3.4% and 7.8% Y.O.Y in the 52 weeks to 10 June 2012.
Pizza continues to be the product sector which is excelling in the face of the recession with both value 5.9% and volume 2% growth in the last six consecutive quarters.
Source: British Frozen Food Federation