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UK food and grocery market to grow 10% by 2022

24 August 2020

The UK food and grocery market is set to grow by 10% between 2019 and 2022, according to the latest market and channel forecast research from IGD. 

The new report reveals the impact of COVID-19 on the overall market over the next three years, with a breakdown of expected implications and performance on individual channels.
 
The pandemic has accelerated the shift to online, a channel IGD expects to mostly retain the loyalty of new shoppers gained during the pandemic. Discount will, however, become the fastest-growing channel in 2021 and 2022, as shoppers looking to economise due to rising unemployment. 
 
Commenting on the report findings, Simon Wainwright, director of Global Insight at IGD, said: “We forecast e-commerce will gain market share faster than previously predicted, following the dramatic influx of new shoppers and bigger order sizes in 2020 as a result of COVID-19. While we expect growth to pause in 2021, it will later resume, with continuing expansion from Amazon and the launch of online operations by M&S through Ocado supplementing activity by the Big Four.

A preview of the IGD Retail Analysis report can be accessed here.


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