FDBusiness.com

UK Food and Grocery Market to Reach £183 Billion by 2015

 Breaking News
  • Ready Meals – Not Ready For the Future New research (1) published by Eating Better, a powerful alliance of more than 50 organisations, shows that supermarkets need to shake up their ready meal ranges. They are not catering for the growing number of flexitarian customers who are cutting back on their meat eating for their health and the health of the planet (2). [...]...
  • Top 100 Largest Spirits Brands Revealed The world’s most popular alcoholic drink in 2017 was the South Korean soju brand Jinro, owned by Hite-Jinro, according to the IWSR Real 100, the definitive ranking of the world’s largest spirits brands by volume. Selling almost 76m nine-litre cases, Jinro retains its number one position from last year, and once again by a staggering [...]...
  • Ireland’s Most Sustainable Paper-free Cup Launched Ireland’s only completely paper-free compostable cup has been launched by Zeus, the Irish global packaging solutions company. Unlike other compostable cups, the Treefree Cup contains absolutely no paper product, making it the most sustainable single-use cup available in the Irish market. Additionally, to tackle the composting waste problem in Ireland, the cups and lids will be [...]...
  • GEA Supplies Largest Buttermaking Machine in India GEA recently sold its first buttermaking machine type BUE to an Indian dairy producer. Creamy Foods Limited, located in the state Uttar-Pradesh, placed an order for a GEA BUE 6000, which has a capacity of up to 6000kg/h butter, making it the largest buttermaking machine in India. The new machine will be brought into operation in [...]...
  • Clearance For Arla Foods UK and Yeo Valley Deal The British Competition and Markets Authority (CMA) has cleared Arla Foods UK’s proposed acquisition of Yeo Valley Dairies, a subsidiary of the Yeo Valley Group. The transaction will give the farmer-owned dairy co-operative the rights to use the Yeo Valley brand in milk, butter, spreads and cheese under an intellectual property licence with Yeo Valley. The [...]...

UK Food and Grocery Market to Reach £183 Billion by 2015

UK Food and Grocery Market to Reach £183 Billion by 2015
December 06
14:56 2010

UK consumers will spend £182.7b in grocery retail outlets by 2015 – an average annual growth of 3.9% – according to latest figures released by IGD, the international food and grocery retailing expert.

IGD’s ‘UK Grocery Retail Outlook: Opportunities Beyond 2010’ report,  predicts that the UK convenience sector, currently valued at £32.1b, will continue to outperform the grocery market and is projected to increase sales by 5.8% per year to £42.6b in 2015

Accounting for 8.2% of the UK grocery sector, non-food sales reached £12.4b in 2010 and are predicted to increase to £17.1b by 2015.

Online grocery retailing is set to double in value from £4.8b to £9.5b by 2015. This is due to technological enhancements, improvements to websites and delivery/collect methods, and greater confidence among shoppers.

Joanne Denney-Finch, chief executive of IGD.

The report, which also includes a supplier survey, found that food and drink manufacturers expressed a high level of optimism about the prospects of their businesses in the next three years, with 63% scoring 8 out of 10 or higher.

They are also aware of the need to innovate to grow. When asked how they would change their product strategy in the next three years, nearly two thirds (64%) of suppliers said that they envisage creating products and pack sizes tailored to meet different store formats or channel-specific needs.

“Despite a tough trading environment, the food and grocery industry has demonstrated a resilient performance in the last twelve months. Companies have responded quickly to shifting shopper trends and adapted their business models accordingly to win the contest for value and convenience,” says Joanne Denney-Finch, chief executive of IGD. “The road ahead remains uncertain, but those businesses that keep up with the pace of change will continue to reap the rewards and prosper.”

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements