New Report Highlights Opportunities In £8bn Frozen Food Market
A new report by the British Frozen Food Federation (BFFF) has highlighted the growth opportunities for manufacturers in the frozen food market.
The ‘Frozen Food Report II’ shows the total value of the frozen food market in the UK is now £8.13bn with retail worth £5.73bn and foodservice sales worth £2.4bn.
Despite the tough trading conditions, the value of retail sales are expected to continue growing at between 1% and 2% over the next five years, driven by innovation and demand for convenience. In foodservice, it is estimated the value of frozen food sales will grow at over 2% on the back of an increasingly buoyant eating out sector.
As well as examining the achievements of industry in the last five years, the report highlights the opportunities and challenges it faces in the next five years, by focussing on four broad themes: market growth, changing customer perceptions, food industry drivers and the future of frozen.
Commenting on the launch of the report, BFFF chief executive, Brian Young said: “The UK’s frozen food industry is a real success story and I am proud to say that, despite a challenging period for the entire food industry, the sector has demonstrated its resilience and has enjoyed solid growth. In the next five years we are set to enjoy further growth as the industry continues to innovate and respond to changing consumer demands.”
He added: “The case for frozen food is no longer in dispute thanks in part to BFFF and our members who have built up a significant bank of evidence to promote the nutritional, cost, quality and sustainability benefits of frozen.
“Looking ahead, frozen will benefit from the growth of online retailing, and as the economy improves and net disposable income grows, foodservice will undoubtedly continue to benefit from more people eating out and eating on the go.”