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Ethnic Foods Market Report Plus 2009
Key Note Publications Ltd, April 2009, Pages: 117
We estimate that the UK market for ethnic foods (including rice) was worth £1.49bn at retail selling prices (rsp) in 2008 — a 4.6% increase compared with 2007. Excluding rice, the value of the market rose by 4% to £1.24bn at rsp. The market was affected by food-price inflation in 2008, which pushed up the prices of most products. In the case of ethnic foods, the price of rice, in particular, rose sharply due to shortages on world markets.
The ethnic foods market is split into two main sectors: ethnic foods and rice. The ethnic foods sector is, in turn, divided into six subsectors: Indian, Chinese, Mexican/Tex-Mex, Thai, Caribbean and other types of ethnic foods. Indian food and Chinese food are the two largest subsectors, and have dominated the market for many years. However, these two categories are relatively mature, and much of the growth is coming from other subsectors, such as Caribbean food and other varieties, particularly Polish food.
The ethnic foods market is highly competitive and, in order to help sustain consumer interest in their brands, suppliers are constantly reviewing and refreshing their products. The strategies adopted to achieve this include new product developments (NPDs), brand extensions, advertising/promotion, new packaging designs and reformulations of the food. New brands also continue to be launched into the market; for example, in 2008, Mars introduced its Asian ready meal concept, PurAsia.
The Competition Commission has published a draft Order for consultation that will see the creation of a new strengthened and extended Groceries Supply Code of Practice (GSCOP). The new Code will be included in all retailers’ contracts with their suppliers, and will provide a much clearer framework for these agreements. The Code will prohibit retrospective changes to terms and conditions, and limit the extent to which suppliers are required to pay for listings, promotions or inaccurate forecasts, etc. It will also set out the requirement for retailers to provide reasonable notice and commercial justification before a supplier is de-listed. Should the code be implemented in full, it will have major implications for the supplier supermarket relationship, including the suppliers of ethnic foods.
We forecast that the total UK ethnic foods market (including rice) will show further growth in 2009. Demand for ethnic foods will continue to benefit from the ongoing introduction of new products, as well as from the extensive advertising and promotional support that these products receive. The market will also gain from the strong position that ethnic foods have as a part of many consumers’ diets. Food price inflation may contribute to increases in the value of retail sales, although consumer resistance to any sizeable rises, as well as downward pressure on prices from the leading supermarket chains, may limit the impact of this.
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