Food - United Kingdom

United Kingdom

Revenue in the Food market amounts to US$171.70bn in 2024. The market is expected to grow annually by 4.22% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$30.88bn in 2024.
In global comparison, most revenue is generated in China (US$1,603bn in 2024).
In relation to total population figures, per person revenues of US$2,526.00 are generated in 2024.
In the Food market, 9.2% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 32.68bn kg by 2029. The Food market is expected to show a volume growth of 2.0% in 2025.
The average volume per person in the Food market is expected to amount to 442.50kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

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Analyst Opinion

The Food market in the United Kingdom has seen minimal growth in recent years, influenced by various factors such as shifting consumer preferences towards healthier options, increasing concerns about sustainability and food waste, and the rise of e-commerce and online grocery shopping. Additionally, the sub-markets of dairy products, meat, fruits, and vegetables have been particularly affected by changing dietary trends and consumer demand for ethically sourced and locally grown products. Despite the negligible growth rate, the convenience of processed and pre-packaged foods and the growing popularity of plant-based and alternative protein products have contributed to the overall stability of the UK food market.

Customer preferences: With the growing awareness and concern for sustainability, consumers in the United Kingdom are increasingly seeking out eco-friendly and ethically-sourced food options. This trend is also fueled by the rise of plant-based diets and the demand for locally-produced, organic products. Furthermore, the increasing diversity in the UK population has led to a demand for more diverse and international food options, resulting in a rise in popularity of fusion cuisines and exotic ingredients.

Trends in the market: In the United Kingdom, The Food market industry is experiencing a surge in demand for organic and locally-sourced products. This trend is driven by a growing consumer awareness of the health and environmental benefits of sustainable food options. As a result, major players in The Food market are expanding their organic product lines and partnering with local farms to meet this demand. This trend is expected to continue as consumers prioritize health and sustainability in their food choices, creating opportunities for industry stakeholders to differentiate themselves and capitalize on this growing market segment.

Local special circumstances: In the United Kingdom, The Food market is heavily influenced by the country's rich food culture and strong agricultural industry. The demand for locally sourced and organic food has been on the rise, driven by the growing trend of health and sustainability. The UK government's focus on reducing food waste and promoting sustainable farming practices also plays a significant role in shaping the market. Additionally, the country's diverse population and multicultural cuisine contribute to the variety and uniqueness of The Food market.

Underlying macroeconomic factors: In the context of The Food market market in the United Kingdom, macroeconomic factors play a crucial role in shaping its performance. The global economic trends, such as trade policies and international trade agreements, can have a significant impact on the market's growth. Moreover, the national economic health of the UK, including factors such as inflation, interest rates, and consumer spending, can also influence the demand for food products. Additionally, fiscal policies, such as taxes and subsidies, can affect the market's competitiveness and profitability. Other relevant financial indicators, such as the GDP and consumer confidence, can provide insights into the overall health of the market. Overall, a stable and favorable macroeconomic environment can create opportunities for growth and development in The Food market market in the UK.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.