Abstract
Premium foods have been one of the fastest-growing sectors of the food market. Rising consumer demand for premium quality foods, indulgence and treats, have allowed supermarkets and manufacturers to invest in premiumisation to grow value sales and opened more opportunities for smaller food specialists.
This report assesses suppliers' strategies for continuing that growth, and for developing new opportunities. This includes an assessment of what impact rising food prices will have on buying behaviour, if any.
Key report themes:
- More informed and knowledgeable consumers buying more selectively
- Ethical and environmental awareness growing - its impact on buying behaviour
- The strong growth of own label premium foods, and its role and share of the market
- Healthier eating and its impact on how foods are chosen, eg eating chocolate or desserts less often but making them more special (an indulgent treat)
- The potential impact of rising food prices and tougher economic conditions
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