Consumers are turning to frozen food items as the economy slows down, something that has cut into the chilled goods market, it has been claimed.
Northern Foods chief executive Stefan Barden said that growing inflation has led to the trend towards frozen ready meals, even if some shoppers are being influenced by TV chefs to make meals from scratch, reports the Daily Telegraph.
And Barden noted that food prices could grow even further this year as inflation continues to increase.
“We are seeing people trade down from chilled to frozen pizza and people who aren’t going to pizza restaurants so much are turning to ready meals,” he commented.
He added that shopping habits are altering and that this is a change that will be seen as the summer progresses.
Meat and protein prices will rise the sharpest in the coming months, Barden stated, after dairy prices, wheat and flour rose in the last 12 months.
