Frozen food growth defies market uncertainty

The frozen food retail market saw year on year (YOY) growth in both value and volume in the second half of 2016 despite uncertainty, reports Kantar Worldpanel.

Latest statistics show the sector saw 0.5% volume growth alongside a value growth of 0.1% which value the market at £5.71 billion. These positive results come at a time when much of the food industry is seeing the impact of uncertainty surrounding the Brexit decision.

The statistics also showed impressive growth for both ice cream and frozen confectionery sectors, which saw YOY volume growth of 4.3% and 4.5% and value growth of 3.6% and 9.3% respectively.

John Hyman, chief executive of British Frozen Food Federation, says, “2016 was a year of significant uncertainty for the food industry both in the lead up to and the aftermath of the Brexit decision in June. However, it is pleasing to see the frozen sector in growth in spite of this.

“2017 promises yet more uncertainty for the UK economy which is likely to prove positive for frozen food as consumers look to take advantages of the cost effective quality afforded by frozen food and the opportunity to minimise waste.”

Other sectors seeing positive performances YOY are potato products with a value growth of 3.5% in volume, savoury food with a volume growth of 1.9% and fish with a 1.1% volume and 2.2% value growth.