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Chilled Foods
The UK chilled foods market is a sector of the larger food industry. In 2001, the chilled foods market was valued at £6.58bn. Sales followed an upward trend over the 1990s. This report concentrates on the main sectors of the market, which are as follows: cheese, yoghurts and chilled desserts, delicatessen meats, yellow fats, ready meals, pizza, savoury pastry products, dressed salads, cream and accompaniments and other chilled prepared foods.
The UK market has grown as a result of a number of strategies. Spending is boosted by premium and value-added products. In more mature markets, such as chilled dairy foods, the introduction of new products by extending established brands rather than trying to launch new ones carries lower risks. The chilled format also favours fast stock turnaround in areas such as ready meals. This type of activity can maintain interest in the market but actual growth potential is limited.
Increased spending in developing areas has been encouraged by a rise in consumer personal disposable income levels, which means that consumers are more willing to pay for convenience. The erosion of kitchen skills and a reduction in food preparation times have also tended to favour ready-to-eat formats. Other trends in the wider food market are recognised in product launches, with a growth in organic foods and healthy-eating recipes, which are lower in fat or functional in nature.
The wide product range covered by the chilled foods market means that it is served by a diverse range of companies. These include some of the UK's leading food groups, such as Geest PLC, Northern Foods PLC, Uniq PLC and Dairy Crest Group PLC. Some are internationally-trading companies with a large portfolio of strong brands, supported by advertising and promotion. This includes companies such as Kraft Foods UK Ltd and Nestl? UK Ltd. Medium-sized companies operating in this market tend to have a more limited brand offer, but many trade on at least a national level, serving the multiples, which are the main customers in this market.
The chilled foods market is very diverse in terms of products and brands. As a result, there are many sectors of the market with considerable scope for growth, although others are more mature in nature. The market prospects are positive, and it is anticipated that the market will continue to grow between 2002 and 2006.
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