Frozen surges ahead, despite dismal summer Published: 03 October, 2007
Frozen fish growth is strong, according to new data
THE retail frozen market has grown even faster than previously reported with the market now up by 3.4% year over year as of September 9, according to the latest TNS data.
Remarkably, in a difficult year for retailers, frozen is growing from strength to strength as growth has accelerated from 1.7% to 2.8% and now hitting 3.4% year over year growth.
Frozen in virtually every category is showing substantial growth year over year with potato products at 9.9% leading the way closely followed by the fish sector at 8.7%. However the good news doesnt end there with meat and poultry showing a very impressive 6.9% growth year on year lead by a real surge in cook from frozen joints pioneered by Iceland.
In a spectacularly good set of results, even ready meals have shown growth from the previous quarters numbers, with the market now being worth £623 million compared to £620 million in June of this year. The fantastic performance achieved in frozen is against a backdrop of difficult numbers within the grocery trade in general. Tesco, for example, have announced that like for like growth in their second quarter was only 2.4%.
Frozen continues to benefit from some inflation particularly in the potatoes, fish and vegetables sectors because of supply shortages but also from the growing choice that retailers are providing aspirational consumers. A resurgent Iceland, a strong performance from Asda, an improving offer in their premium lines from Sainsburys, strong performance at Tesco and a solid performance in Morrisons, have all helped to buoy the frozen food sector.
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