OUR ABILITY TO TRANSLATE MARKET TRENDS INTO COMMERCIALLY-SUCCESSFUL PRODUCTS IS CRITICAL TO OUR LONG-TERM GROWTH, PARTICULARLY IN TODAY'S COMPETITIVE BUSINESS ENVIRONMENT.

Four key macro trends are influencing consumer behaviour which, in turn, is shaping retail investment decisions. Ultimately these trends impact the foods which we develop and make at Bakkavor.

Here we outline some of the key reasons behind our focused investment in the fresh prepared foods market and summarise the macro trends which are influencing consumer trends, shaping retail developments and, ultimately, the foods that we make.

why fresh prepared foods?

DYNAMIC & RESILIENT GROWTH

The fresh prepared foods sector is one of the most dynamic and diverse in the food industry. It continues to grow faster than the overall food market by meeting consumer demand for high-quality food with fresh ingredients, alongside choice, convenience and value for money.

2
TIME-SAVING & COST-SAVING LIFESTYLE CHOICE

People are interested in new tastes and quality ingredients but do not always have the time, skill or budget to cook from scratch every day. Fresh prepared foods bridge this gap, increasingly becoming a lifestyle choice, due to their fresh appeal, ease of cooking (or preparing) and availability across a range of price tiers.

3
STRATEGIC IMPORTANCE FOR PRIVATE LABEL GROWTH

Fresh prepared foods are sold predominantly under retailer private labels and are an integral part of a retailer's overall brand strategy. They enable retailers to differentiate themselves from their competitors, which is crucial in today's challenging retail environment. Private label continues to gain share in developed countries around the world.

4
BUILT ON LONG-LASTING RELATIONSHIPS

Making fresh prepared foods under private labels brings with it the need for deep trust and understanding between suppliers and their customers. As products are made with fresh natural ingredients, suppliers must meet demanding customer specifications, involving day-to-day communication and excellent relationships. This is a barrier to entry rather than a risk.

5
BENEFIT OF SPEED TO MARKET

Compared to manufacturer-branded products, fresh prepared foods give retailers the opportunity to launch differentiated private label ranges relatively efficiently and cost-effectively, allowing them to benefit quickly from the demand for high-quality, convenient foods with fresh ingredients.