As the European economy prepares for the sales frenzy of December, we thought it would be interesting to feature several market analyses in this issue of FFE.
You’ll read about the pre-baked and ready-to-bake market, about convenience and frozen products for catering and foodservice, and the current status of the Scandinavian frozen food market.
A recent Kantar study, which you can read more on in our ‘European Retail’ topic, addresses the struggles that retailers are likely to face in 2024, but also ways in which they can mitigate these upcoming challenges. Amongst them – and this shouldn’t come as a surprise to anyone – is the lasting shadow of inflation. And while we’ve seen some positive movements recently, the danger is still present and will continue to be throughout the next year.
This sort of positive trajectory should also be seen next year, as consumers start rewarding not just the practical benefits of frozen food, but also the saving side of things. It will be interesting to see how things progress throughout the next 12 months, but cautious optimism is probably the best option for everyone.
Another good sign, albeit earlier in the year was the fact that the volume of frozen food sales has returned to growth in the first quarter of 2023, according to data from the British Frozen Food Federation (BFFF). Volume sales of frozen food grew by over 2,5 million tons, compared to the same period last year, while the value of the retail frozen food sales also continued to increase in the same period, up +9.5%.
Finally, as this year comes to an end, I’d like to thank our collaborators, partners, and all others involved in another successful year, which has been a great way to prepare for our 35th year in business. Indeed, in 2024 we’ll be celebrating as we embark on the next decades of supporting the frozen food industry.
Enjoy this holiday season and have a great 2024!