Food Preparation 2016; Market, Retailers and Consumers
Food preparation expenditure is expected to rise 1.8% in 2016. Growth in 2015 and 2016 has been predominantly volume driven, with the category benefitting from the cooking at home, healthy eating and baking trends boosting sales of items such as specialist knives, spiralizers and measuring jugs. This report provides an overview of the major issues currently affecting the food preparation market.
- Food preparation expenditure is expected to rise 1.8% in 2016 to £577m. Growth in 2015 and 2016 has been predominantly volume driven, with the category benefitting from the cooking at home, healthy eating and baking trends boosting sales of items such as specialist knives, spiralizers and measuring jugs.
- The June EU referendum result will impact potential category growth. A slow in property transactions will hinder volumes, while the expected consumer confidence drop will reduce spend on premium items. We forecast 2017 and 2018 growth will be reduced, although accessories and gadgets will hold up better due to healthy eating and cooking at home trends.
- 43% of consumers purchased a food preparation product in the last year. Product purchases are generally made for replacement purposes and 42.7% of shoppers do not conduct any research prior to purchase.
- Tesco is the largest food preparation retailer. However, the retailer has lost share, driven by a decline in food & grocery footfall at larger format stores. Asda, the third largest player in the market, has also seen its share stagnate, due to similar food and grocery woes and the growth of the convenience format- which Asda fails to compete in.
“Food preparation 2016”, The Verdict Food Preparation report forms part of the Home Retail Series, and offers a comprehensive insight into food preparation retailing in the UK, analysing the market, the major players, the main trends, and consumer attitudes.Reasons To Buy
- This Home Retail Series Report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the food preparation market based on insights from within Verdict’s database and consumer insight from our bespoke annual survey.
- The report is designed for an executive-level audience, boasting presentation quality that allows it to be turned into presentable material immediately.
- The broad but detailed perspective will help manufacturers and retailers to understand and succeed in food preparation market.
- THE MARKET
- THE RETAILERS
- THE CONSUMER