UK Food and Grocery market set to expand to £206bn by 2018

The latest figures issued by The Industry of Grocery and Distribution, the leading  researchers into the food and consumer goods industry, forecast that the food industry is set to grow by 21% over the next 5 years.

However, supermarkets and mega stores are predicted to suffer during this period as consumers increasingly favour online shopping, discount stores and local convenience stores. The internet market alone is set to increase by 123.7 per cent and discount and convenience stores are thought be worth a staggering £64.6 billion.

These predictions call on the UK’s leading supermarket chains to follow in the footsteps of low cost stores such as Aldi, who were recently named the UK’s best supermarket, by creating enticing low cost offers that will draw in consumers looking to save money without comprising on value.