DELOITTE REPORT FINDS PRICE IS DRIVING STRONG FROZEN FOOD SALES
More consumers are being driven to buy frozen food because they perceive it to be cheaper, new research by Deloitte has found.
The study from the professional services company also found that young people have an especially positive perception of frozen food.
However, the research also found that only four in 10 consumers felt that eating frozen food made them happy, compared to nine in 10 who took that view with fresh food.
The findings are detailed in a Deloitte report called, “Fresh vs. Frozen: The Future of Fresh in a Changing Competitive Landscape.”
In a statement, Deloitte said that frozen food was “gaining an advantage in the food fight to capture growth in at-home consumption”, with the Covid-19 pandemic continuing to influence how people shop for food.
“Ninety-percent of consumers say price is the most important purchase driver for fresh food,” the statement said. “With inflation driving prices up, cheaper frozen food is looking better by comparison. In addition, 82% of consumers believe fresh food prices have increased more than justified.”
In head-to-head comparisons, almost half of consumers said that frozen food was just as good as, or better than, fresh food. Among younger consumers, the preference for frozen food was greater.
Among 18 to 34-year-olds, 57% of those questioned for the Deloitte report thought frozen vegetables were just as good as or better than fresh, while among people aged 55 or older the figure was only 39%.
Similarly, 51% of 18 to 34-year-olds said frozen meat was just as good as fresh meat, but only 29% of people aged 55 or older took this view.
In related news, Sial Paris Newsroom recently reported that the frozen food packaging market is set to be worth $60.58 billion (€52.26 billion) in 2028, which is 50% up on last year’s figure, with growth driven by emerging markets.