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Web Report: Good News in Tough Times
Despite challenges from increased competition within the sectors and a tough economic climate, the UK market for preserves & condiments - currently worth £1bn in value - is expected to perform well over the next five years.
Research by RTS reveals that the UK preserves & condiments market will see growth of 1.7% in value over the next five years to 2013, although this is significantly less than the 5% growth seen from 2003 to 2008. 290,500 tonnes of preserves & condiments were consumed in the UK in total in 2008, with the average person consuming 4.8 kilos per year.
Jamie Rice, Marketing Director of RTS, says: "Whilst growth rates will be significantly reduced over the next five years, the preserves & condiments market will still see overall growth, which is much better than other areas of the food industry. However, the market is complex and not all areas will perform well. Manufacturers must carefully set about identifying the opportunities that do exist and exploiting them with some urgency."
Understanding the market
Drawing on information from its extensive database of global food and drink consumption, RTS is able to offer manufacturers essential information on the latest developments in the preserves and condiments market. Being able to access market information is invaluable, especially when it comes to identifying trends and opportunities for growth.
"The ability to understand the market has never been more important," Jamie explains, "especially in the current economic climate, when market gains are diminishing. Knowing where new opportunities exist and understanding ever-changing consumer trends will be vital to successfully exploit the market and ensure future sustainability.
"That's where RTS can give your business the edge. With the information we have to hand, we can advise you on everything from maintaining market share and understanding the current consumer climate, to new opportunities, growth areas and where best to focus your NPD."
Taken from Preserves and Condiments, produced by RTS for Food Manufacture Market Reports. To find out more, or buy the report, click here.