Consumer demand for quailty and convenience resulting in significant growth in UK Food market.
Consumer expenditure on the foods and food products covered by this Market Review totalled £47.47bn in 2002, representing an increase of 2.2% on 2001. With so many mature markets, year-on-year growth is fairly moderate in most markets, but strong performances were achieved in 2002 by the markets for fish and fish products; bread, cakes, biscuits and cereals; and ready meals, with sugar and pizza also showing above-average growth.
(PRWEB) December 7, 2003
Research and Markets announces the addition of The UK Food Industry review to its offerings.
Consumer expenditure on the foods and food products covered by this Market Review totalled £47.47bn in 2002, representing an increase of 2.2% on 2001. With so many mature markets, year-on-year growth is fairly moderate in most markets, but strong performances were achieved in 2002 by the markets for fish and fish products; bread, cakes, biscuits and cereals; and ready meals, with sugar and pizza also showing above-average growth.
Contributing to growth in many sectors has been consumer switching to higher-priced products. This reflects demand for both quality and convenience, as well as growing interest in a broader range of foods, e. g from foreign cuisines. Consolidation in the food industry continued in 2002 and 2003, with further mergers and acquisitions. Key trends in the food market over the 5 years from 2003 to 2007 will include: greater participation in the convenience and ethnic foods sectors, and increased consumer interest in healthy eating (which is partly driven by the UK's ageing population profile). Year-on-year growth will remain modest in most markets, reflecting their maturity and already high levels of penetration. The markets forecast to achieve the highest growth are bread, cakes, biscuits and cereals, ready meals, pizzas and pasta.
This report reviews key trends and developments in the UK retail food market between 1998 and 2002, and provides forecasts for the period 2003 to 2007. This includes a PEST Analysis, outling the Political, Economic, Social and Technological factors which impact the industry. The competitive strucute of the market is looked at and the industry is analysed under the following market segments:
Meat and Meat Products, Fish and Fish Products, Fruit and Vegetables, Dairy Products, Eggs, Oils and Fats, Bread, Cakes, Biscuits and Cereals and Miscellaneous Foods.
Both fresh and processed products are included, but confectionery, ice cream, alcoholic drinks, and hot and cold beverages (including fruit juices, tea and coffee) are excluded.
For a complete index of this report click on http://www. researchandmarkets. com/reports/41588 (http://www. researchandmarkets. com/reports/41588)
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