World cuisine market value is £2.3bn and is forecast to grow to nearly £2.6bn by 2026.
•Income squeeze will continue to support world cuisines market.
•World cuisines continue to enjoy almost universal usage.
•Cooking skills gained during the pandemic will further encourage people to cook from scratch. Long term increase in cooking from scratch predicted.
•Healthy food is a top priority for consumers with HFSS legislation being delayed to October 2023.
•Ready meals and sauces play a sizeable role in the world cuisine market and are among product categories falling within the regulation.
• Restrictions on television advertising for HFSS products due beginning of 2024, will further impact sales of sauces and ready meals, potential growth for the accompaniments sector.
•Considerable interest in products that are suitable with both meat and meat-free dishes.
*World Cuisine UK, May 2022, Mintel; **Meal Kit Global Market Report 2022, Market Size, Trends and Global Forecast 2022-2026’, The Business Research Company
Having grown their business purely online up until this point, in 2023, Bang Curry developed and launched a new range which is food service and retail ready. A new patented product approach will significantly increase convenience across our sales channels.
Employing a new sales team and onboarding senior industry advisors in the last 6 months, means the company are well-positioned to scale in these markets. Food service will give Bang the volume of sales to support our further expansion and scaling.
Bang Curry’s 5 year business plan represents scaling in the UK market in year 1 and starting to export in Year 2.