Record spending on tasty treats

12 April 2012

Britons are spending more than ever on speciality food and drink, according to a new report.

People in the UK splash out an average of £56 each per year on gourmet coffee, handmade chocolates and organic food, independent market analyst Datamonitor found.

The boom in spending means that the UK is now Europe's second largest speciality food and drinks market.

Brits spent a total of £3.6 billion on fine foods last year, a figure that is expected to rise to £4.2 billion by 2011.

But it is the French, well known for their love of fine cuisine, that are the biggest spenders at £80 per person.

The report found that retail sales in France reached £5.2 billion last year and are set to top £6.2 billion in five years' time.

The trend for buying more edible treats, including everyday items like coffee from Starbucks, is thought to be driven by increasing wealth and changing consumer tastes.

Matthew Adams, consumer markets analyst for Datamonitor and author of the report, said: "One of the most important drivers has been the 'democratisation of luxury', with consumers of all income groups purchasing whichever premium products they can afford."

More consumers are also buying organic products in a bid to maintain a healthier lifestyle, according to the report. These organic versions of food and drink are classed as speciality items because they generally include a price premium.

Datamonitor defined speciality products as high quality items that have "individual, different, country or gourmet food characteristics" and are not mass-produced.

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