As they tighten their purse strings, British consumers are turning to frozen foods, including seafood, more often.
According to new figures from market tracker TNS Worldpanel, consumer spending on frozen fish at retail in the United Kingdom was up 5.1 percent through 29 November 2009, compared to the same period in 2008. The frozen food market is currently valued at about GBP 5.1 billion (USD 8.3 billion, EUR 5.7 billion).
“Over the last three years, the frozen food market has grown by 15.9 percent; potato products, vegetables, meat, poultry and fish have all grown by more than 20 percent during this period,” said Brian Young, director general of the British Frozen Food Federation (BFFF).
Year-on-year growth for frozen fish at retail saw spending jump from GBP 842,150 (USD 1.36 million, EUR 937,812) in November 2008 to GBP 884,978 (USD 1.43 million, EUR 985,505) in November 2009.
The growth in value came despite a 1.5 percent drop in overall volume sales. Data from TNS Worldpanel shows sales fell from 163,453 kilograms on 30 November 2008 to 161,057 kilograms by 29 November 2009.
Food industry observers suggest that in a tougher climate innovation is crucial to retain market share and place food companies in a position to enjoy further gains once the economy emerges from a recession.
Young agrees. “We are delighted with the amount of new innovations, especially from the big brands, which I believe are playing a part in sustaining momentum and growth in the sector,” he said.
Among the frozen fish products recently introduced to the UK market is Birds Eye’s Bake to Perfection range of ready-to-cook seafood products, sales of which have reached GBP 15.5 million (USD 25.1 million, EUR 17.3 million) since being launched in March 2009.
