Spain – Own Labels Keep Growing As the Spanish Recession Continues

There are differing views over how the frozen food sector is likely to develop in Spain in the short term, as the industry awaits the results for 2012 to be announced.

One thing analysts do agree on, however, is that the value of individual products has been forced down as consumers switch increasingly to own label products in the ongoing economic recession. The effect of Spain’s ongoing sovereign debt crisis has already seen unemployment pass the 25% mark, including more than half the total in the case of young people of working age. Whether that in turn will be enough to contract the value of the frozen food market as a whole depends on who you speak to.

Results so far
Kantar Worldpanel, which researches the market for the main producer companies grouped in the national producers and distributors’ association, AECOC, acknowledges that there has been a fractional reduction in sales. Its most recent annual running totals, for the year through to September 2012, cover only domestic household consumption, and still point to an overall upward trend over the next few years. On the other hand market analysts, DBK, which brought out their most recent report in November 2012, and cover a wider spectrum of the market, suggest that the rise recorded in 2011 was a blip. They believe that market value has already turned the corner in 2012 and is heading downwards. Kantar, however, continues to talk up the market, stressing the overall 38% increase in the value of home-consumed frozen f...

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