Expenditure of Food Preparation Market is expected to Rise 1.8% in 2016: Radiant Insights

Report provides an overview of the major issues currently affecting the food preparation market.

“Food preparation 2016”, The Radiant Insights Food Preparation report forms part of the Home Retail Series, and offers a comprehensive insight into food preparation retailing in the UK, analyzing the market, the major players, the main trends, and consumer attitudes. Food preparation expenditure is expected to rise 1.8% in 2016. Growth in 2015 and 2016 has been predominantly volume driven, with the category benefitting from the cooking at home, healthy eating and baking trends boosting sales of items such as specialist knives, spiralizers and measuring jugs. This report provides an overview of the major issues currently affecting the food preparation market.

The report “Food Preparation 2016; Market, Retailers and Consumers” is available now at http://www.radiantinsights.com/research/food-preparation-2016-market-retailers-and-consumers

Key Findings

– Food preparation expenditure is expected to rise 1.8% in 2016 to £577m. Growth in 2015 and 2016 has been predominantly volume driven, with the category benefitting from the cooking at home, healthy eating and baking trends boosting sales of items such as specialist knives, spiralizers and measuring jugs. 
– The June EU referendum result will impact potential category growth. A slow in property transactions will hinder volumes, while the expected consumer confidence drop will reduce spend on premium items. We forecast 2017 and 2018 growth will be reduced, although accessories and gadgets will hold up better due to healthy eating and cooking at home trends. 

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– 43% of consumers purchased a food preparation product in the last year. Product purchases are generally made for replacement purposes and 42.7% of shoppers do not conduct any research prior to purchase.
– Tesco is the largest food preparation retailer. However, the retailer has lost share, driven by a decline in food and grocery footfall at larger format stores. Asda, the third largest player in the market, has also seen its share stagnate, due to similar food and grocery woes and the growth of the convenience format- which Asda fails to compete in.

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Reasons to Buy

– This Home Retail Series Report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the food preparation market based on insights from within Verdict’s database and consumer insight from our bespoke annual survey.
– The report is designed for an executive-level audience, boasting presentation quality that allows it to be turned into presentable material immediately.
– The broad but detailed perspective will help manufacturers and retailers to understand and succeed in food preparation market.

Read more related reports by Radiant Insights:

• Cooking and Baking Market

http://www.radiantinsights.com/research/cooking-and-baking

The cooking and baking market grew by 2.4% in 2015, outperforming the overall home wares market. Growth however is forecast to slow in 2016 due to weakening consumer confidence and economic instability following the Brexit vote – with shoppers delaying purchases in discretionary categories such as home wares.

• UK Accessories Market

http://www.radiantinsights.com/research/the-uk-accessories-market-2016-2021

The Accessories Sector report offers a comprehensive insight into the accessories market in the UK, analyzing the market, the major players, the main trends, and consumer attitudes. It covers in detail various sectors within accessories, and provides forecasts to 2021.

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