Summary The cooking and baking market grew by 2.4% in 2015, outperforming the overall homewares market. Growth however is forecast to slow in 2016 due to weakening consumer confidence and economic instability following the Brexit vote - with shoppers delaying purchases in discretionary categories such as homewares.
Key Findings - Depth and breadth of product ranges and a widely accessible offer sees Asda retain its leading position in the cooking and baking market in 2016. Its share however has stagnated due to a decline in food and grocery footfall at larger format stores limiting share growth in cooking and baking.
- The growth of discounters has intensified the value end of the cooking and baking market, causing Wilko to lose market share in 2016. The aggressive expansion and the broadening of kitchenware propositions at the likes of BandM and Home Bargains will make it a challenge for Wilko to regain market share in the coming years.
- Replacement overwhelmingly drives purchases in cooking and baking, and has been cited by 78.9% of consumers. Other factors such as desiring a new look (33.6%) or impulse (24.8%) are low drivers compared to replacement, and although pertinent to all the product categories, replacement is especially relevant in pans.
Synopsis Cooking and Baking 2016 is part of Verdict Retail's Home Retail Series of report, which provides expert insight into the cooking and baking market, with forecasts of values and volumes up to 2021. It delivers deep quantitative and qualitative insight into the UK market, analysing key trends in the market based consumer data from Verdict Retail's survey.
It provides in-depth analysis of the following:
- Key issues and strategies for success within the cooking and baking market in the UK
- Market size and forecast; a look at the total market size and forecast size for the cooking and baking market in the UK.
- Retailer profiles; a detailed look at the dominant players including market shares and outlooks.
- Consumer data: a detailed look at what, how and where people are buying cooking and baking products.
Reasons To Buy - This HRS Report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the Cooking and Baking market based on insights from Verdict's bespoke consumer survey and analyst insight.
- The report is designed for an executive-level audience, boasting presentation quality that allows it to be turned into presentable material immediately.
- The broad but detailed perspective will help manufacturers and retailers to understand the opportunities within the Cooking and Baking market.
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