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Milk & Dairy Products Market Report Plus 2010
Key Note Publications Ltd, July 2010, Pages: 121
This Market Report Plus examines the UK retail market for milk and dairy products. The main segments considered in the report are: liquid milk; cheese; yogurts, yogurt drinks and chilled desserts; yellow fats (butter and spreads); and cream.
Sales of milk and dairy products were hit by the recession in 2009. While the market has managed consistent levels of growth in recent years, substantial value increases in 2008 and 2009 were driven by rising input costs, which were reflected in higher retail prices.
The squeeze on consumer incomes has led to increased in-store focus on price, and a significant volume across a number of categories has been sold through price-based offers. The ‘buy one get one free’ (BOGOF) offers that were popular pre-recession have given way to ‘special price’, ‘multibuy’ and ‘round-pound’ deals. Much of this activity has been centered on brands, and suppliers have seen volume growth ahead of retailer own labels in categories such as cheese and yellow fats.
There has been some product innovation in the milk and dairy market in recent years. The advent of 1% milk was well received, not least by the Food Standards Agency (FSA), which is looking to see this promoted further to take a larger share of liquid sales. The cheese market has had success with the introduction of more varieties to convenience formats, such as grated and sliced options. Within the butters and spreads sector, the major thrust of activity has been in product relaunches and revamps. The yogurt drinks and chilled desserts category continues to take the lead in terms of promotion and advertising.
The introduction of the new EU Health and Nutritional Claims legislation at the start of 2010 banned the use of terms such as ‘x% fat free’ and ‘extra light’, bringing with it the need for some relabelling. In addition, the EU recognized that plant stanol esters played a positive role in heart health, and gave the go ahead for the use of this claim in related products. Brands with less extensive clinical evidence have had to dilute health messages to ensure that they do not fall foul of the new rules.
The milk and dairy products market is relatively mature, and products have a high level of penetration across consumer categories. However, there is scope for further value growth in sales. To some extent, this will be driven by inflationary influences, but a revival in the economy will also bring with it the opportunity to target higher spending. Key drivers of innovation will be premium, ‘better-for-you’ and convenience products.
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