Premier Foods Group Ltd remains the leading company in the United Kingdom condiments market in 2012, with a value share of 15%. This reflects its strong position in cooking sauces, where it holds a value share of 23%, thanks to its wide range of popular brands such as Sharwood's and Loyd Grossman.
The cooking sauces category benefited from the successful launch of pouch and sachet formats. The new formats are smaller than the traditional jars, which makes them attractive to consumers willing to try new flavours but without committing to purchasing larger jars. They also appeal to those who seek convenience. These formats tend to come at a higher price, which is reflected in the fact that volume sales are growing at a slower rate than value sales. While the format is perceived to be cheaper by some consumers as they are paying less than for some jar products, the price per kg of sauce in a sachet is higher than the equivalent in the traditional jar.
The poor economic outlook that is predicted for the UK over the forecast period is likely to result in the continuation of existing consumer behaviour, with people continuing to cook more at home whilst conversely leading hectic lifestyles, resulting in heightened demand for convenience and value for money. This should continue to be beneficial both for cooking sauces and table sauces, products that help consumers to cook at home with less time and effort, providing further opportunities for innovation to meet the demand for convenience.
- In 2012 the sauces, dressings and condiments category records 1% volume growth and 5% value growth
- The introduction of innovative and convenient smaller formats for cooking sauces is driving value growth
- Consumers opting for innovative and exotic flavours are driving the growth of spicy chili/pepper and soy based sauces
- Unit prices increase due to the success of smaller formats and the rise of commodity prices
- Major brand operators such as Premier Foods Group Ltd lead the category, however smaller and more innovative brands are increasing their share of sales
- The category is expected to grow at a 3% CAGR in constant value terms over the forecast period as consumers continue to search for convenience and greater variety when cooking at home
For more information on the United Kingdom condiments market, please click here: United Kingdom condiments market
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