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UK CASHEW MARKET
Jim Fitzpatrick Ingredient Sourcing Solutions 14th February 2020
WHERE IN
IN THE WORLD?
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UK CASHEW MARKET Jim Fitzpatrick Ingredient Sourcing Solutions 14 - - PowerPoint PPT Presentation
UK CASHEW MARKET Jim Fitzpatrick Ingredient Sourcing Solutions 14 - - PowerPoint PPT Presentation
UK CASHEW MARKET Jim Fitzpatrick Ingredient Sourcing Solutions 14 th February 2020 W HERE IN IN THE W ORLD ? 2 W HY IS THE UK PRESENTED SEPARATELY ? HY IS B REXIT The UK left the EU on 31 st January 2020. May have far reaching
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WHY
HY IS IS THE UK PRESENTED SEPARATELY?
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BREXIT
- The UK left the EU on 31st January
2020.
- May have far reaching
consequences.
- No changes for now.
- Negotiation BREXIT trade terms
now beginning.
- Standards and import requirements
may change
- UK seeking bilateral trade deals
Worldwide.
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- 64 million people - 8.5% of Europe.
- 2nd economy in Europe.
- 5th economy in the World.
- 80% services sector.
- 2nd financial centre – London.
- Diverse, modern country.
- Highly developed retail sector.
- 17% of EU cashew kernels market (2018)
THE
HE UK IN IN THE WORLD
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UK CASHEW KERNELS IMPORTS
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5000 10000 15000 20000 25000 2010 2011 2012 2013 2014 2015 2016 2017 2018
Tonnes
UK IMPORTS CASHEW KERNELS
Total Vietnam Africa Europe Linear (Total)
CAGR +5% Vietnam +10% Africa +8.42%
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UK IM
IMPORT SOURCES COMPARED TO TO EU
EU
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EU 2018 UK 2018 UK less likely to buy in Africa ; Imports from other European countries. Will this be an opportunity after Brexit completed ?
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Developed snack market = WW320
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- Private label & strong brands.
- Nut market circa US$400m.
- Innovation in flavours and textures.
- Better for you plus comfort & taste.
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In Innovation & new applications
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Products suitable for broken cashews – buyers often buy wholes and dice them – do not trust food safety of broken from origin
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UK BIG
IG CONSUMER TRENDS SUIT CASHEWS
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PROTEIN FREE FROM…
CONVENIENCE
SWEET & SAVOURY NATURAL , HEALTHY, LOW FAT
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UK CASHEW MARKET PLAYERS – CROWDED MARKET.
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SUPERMARKETS RULE. MAJOR BRANDS AND MANUFACTURERS. “YOUNG” INNOVATORS. MANY IMPORTERS. SOME LONG ESTABLISHED
BROKERS.
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