Are we really as cash rich, time poor as we think? Mintel’s new British Lifestyles report indicates that we’re clawing back time for the important things – and this includes food preparation.
Undoubtedly our lives have been transformed by the introduction of a plethora of convenience products and services that save us time and energy. With all these in place and at our fingertips can we really still be considered a cash rich, time poor society?
The overall food market has grown relatively slowly (32% growth) over the past ten years. But when we look at the separate sections of the food market, different foods have had very different fortunes.
The real star of the food market has been the convenience foods sector. This has grown by an impressive 70% over the past ten years – massively more than the staple foods, such as dairy, bread, meat and fruit and vegetables.
Not only has the convenience food sector grown the fastest over these years it is also the largest sector, as almost £17bn (US$31.2bn) was spent on convenience food in 2003. This is a billion more than in 2002 and amounts to almost a third (32%) of the total spend on food.
The overall food market has grown relatively slowly (32% growth) over the past ten years. But when we look at the separate sections of the food market, different foods have had very different fortunes.
The real star of the food market has been the convenience foods sector. This has grown by an impressive 70% over the past ten years – massively more than the staple foods, such as dairy, bread, meat and fruit and vegetables.
Not only has the convenience food sector grown the fastest over these years it is also the largest sector, as almost £17bn (US$31.2bn) was spent on convenience food in 2003. This is a billion more than in 2002 and amounts to almost a third (32%) of the total spend on food.
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