UK Sector Series: Food & Grocery, 2023-2028

UK Sector Series: Food & Grocery, 2023-2028

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 market forecasts out to 2028.

The value of the UK food & grocery sector rose 7.5% in 2023, driven by double-digit food inflation. Volumes declined 7.1% as consumers adjusted their spending in response to rising prices.

The UK tobacco & e-cigarette market is expected to decline at a CAGR of 0.4% between 2023 and 2028, as the influence of legislative changes and growing health consciousness among consumers creates deeper volume declines.

With consumer budgets squeezed, value for money was ranked the most integral driver of purchases in food & grocery among shoppers.

Scope

• The outlook for the food & grocery sector will be softer over the next five years, with the market forecast to increase at a 2.4% CAGR between 2023 and 2028.
• Online food & grocery sales will outpace the offline market in 2024.
• The food market, representing a substantial 65.6% of the total food & grocery sales, is projected to continue its growth trajectory, with a CAGR of 2.9% between 2023 and 2028.

Reasons to Buy

• Using our five year forecasts to 2028, learn which categories in the food & grocery market will be the fastest performing to enable focus and investment in these winning product areas.
• Understand how drivers of food & grocery purchases, such as range, price and quality, vary in importance among different demographics to maximise sales potential.
• Use our in-depth analysis and forecasts to understand the current and future performances of the different channels, including online and offline.