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UK: Food & Grocery 2019-2024

UK: Food & Grocery 2019-2024

  • November 2019
  • 67 pages
  • ID: 5843027
  • Format: PDF
  • By GlobalData

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UK: Food & Grocery 2019-2024

Summary
The UK Food & Grocery report offers a comprehensive insight into the food & grocery market in the UK, analysing the sector, the major players, the main trends, and consumer attitudes; as well as providing forecasts out to 2024. Consumer data is based on our 2019 UK How Britain Shops survey, using a panel of 10,000 nationally representative consumers.

UK Food & Grocery spend is expected to rise by 15.0% to £174.5bn in 2024, ahead of the growth seen in 2014-2019 as macro-economic conditions are set to improve and the lure of the discounters Aldi and Lidl begin to wane. However, while a recovery in volume growth is forecast, overall market growth will remain driven by inflationary pressures over the next five years.

Scope
- The UK food & grocery market is forecast to grow 15.0% between 2019-2024 - considerably higher than that achieved in the five years prior - as macroeconomic uncertainty drives inflation across core categories.
- The future of the UK’s relationship with the EU post-Brexit will be pivotal for food operators, with a no-deal Brexit likely to cause elevated inflation levels (as a result of imposed tariffs) and issues around availability.
- Sustainability is becoming an increasingly visible metric against which consumers rate supermarkets, with 93.5% of UK consumers stating that it is the responsibility of retailers to act sustainably.
- With almost a quarter of all consumers identifying as having a dietary requirement, supermarkets now need to fully integrate free-from ranges into their proposition, rather than considering it an optional extra.
- While l-f-l sales growth at the discounters is beginning to show signs of slowing, aggressive expansion plans from Aldi and Lidl - coupled with growing consumer awareness of the food proposition at non-food specialists such as B&M and Poundland - will see the discounter channel grow 25.0% over the next five years.

Reasons to buy
- Understand the dynamics of the food & grocery market and identify fast-growing sub-sectors, allowing you to tailor your sales mix to better meet the needs of your customers.
- Gain insight into the far-reaching trends affecting the food & grocery market - including the impact of Brexit, the importance of sustainability investment, and the need for retailers to adapt quicker to changing diets - to allow you to better prepare strategies for long-term success.
- Learn how the major players are investing in the online channel, enabling you to evaluate the importance of online delivery to your customers and how to adapt to the changing landscape.
- See how non-food discounter specialists, such as B&M, are posing a threat to traditional food retailers, and reveal how best to fend off competition from price-orientated rivals.

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