Consumers Spent €4.3 Billion More On FMCG Products In 2016: Nielsen
Consumers in Western Europe last year spent an additional €4.3 billion on FMCG products in the grocery retail sector, according to research firm Nielsen. This corresponds to a growth of 0.9% compared to 2015.
Nielsen analysed spending habits in Western Europe’s biggest markets: Germany, France, Italy, Spain, Belgium, Austria, Portugal, the UK and the Netherlands, in comprising the survey.
Sales growth in fresh foods and confectionery was most pronounced, as a result of consumers buying more products. In addition, growth in the alcoholic beverages sector was mainly due to raised prices.
Fresh food sales accounted for 38% of total industry growth (€1.6 billion), confectionery/snacks for 23% (€1 billion) and alcoholic beverages for 20% (€849 million). Together, the three categories were responsible for 80% of the increased sales.
While the ten biggest food producers in the sector have witnessed a decrease of €430 million in consumer spending, they still accounted for 30% of the overall growth.
Nielsen noted that smaller producers currently have a combined market share of 46.6%, followed by private label products (36%) and the ten biggest food producers (17.4%).
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Larissa Zimmer. Click subscribe to sign up to ESM: The European Supermarket Magazine.