Approximately one fourth of the global market is based in Europe. It is dangerous to group all European market into one convenient basket, even within a region their prospect varies a lot. Not all market are suffering from a slump, but equally not all are dynamic fast growing economies; otherwise cultural sensitivities are equally important factors for consideration. Growing global demand went hand in hand with a changing consumer profile. The strength of consumers varies across Western European countries: job security concerns more in France, Spain and Italy; utilities bills concerns more in Germany and UK. Nielsen outlook shows that once covered the essential living expenses, the spare cash is put into savings (35%), in new clothes (30%), in holidays (28%), entertainment (23%), loans (21%), home improvement (19%). The recovery in consumption will be modest with polarized performances and divergences. The categories under pressure will be clothes in Italy, OOH entertainment in France and Spain.
What can be said about food consumption? According to European Food and Drink Industry, the trend shows the food industry remains a pillar of the EU economy. The sector ranks among the top three manufacturing industries in terms of turnover, employment in France, Spain, UK and Italy. Germany, France and Italy are the largest EU food producers and the share of industry employment surpasses 15% in more than Half Member States. In 2013 households spent on average 14.6% of they expenditure in food. Food products rank second in the consumption of household after housing, water and energy.
European Food and Drink Industry ranked the ten most innovative food sectors in Europe and dairy products are the leaders in innovation, followed by ready-made meals which surpass soft drinks ranked third. The others sectors are: savoury frozen products, biscuits, meat-delicatessen, appetizers grocery products, cheeses, condiments and sauces.
