NEW FEATURE! Monthly Insight – April
10 FACTS ON THE FUTURE OF FOOD-TO-GO! POTENTIAL OPPORTUNITIES TO CAPITALISE ON FORECASTED GROWTH IN THE NEXT THREE YEARS
THE FOOD-TO-GO MARKET WILL BE WORTH £21.2 BILLION IN 2019, RISING 3% COMPARED TO 2018
Food-to-go is outperforming the overall eating-out market and is set to account for almost a quarter of total eating out spend. This is attributed to its greater affordability, which makes it attractive to today’s cash-strapped consumer
While food-to-go is expected to grow 1.8% in 2019, this is a smaller rise than in previous years
OVER THE NEXT THREE YEARS THE FOOD-TO-GO SECTOR IS EXPECTED TO ADD £2 BILLION TO ITS VALUE, REACHING £23 BILLION IN 2022
This growth is driven by the growing time pressures faced by the UK’s workforce as well as widening accessibility
Winners will be operators and retailers who impress on the core needs of speed, value and quality, but we believe growing opportunities will also be presented through innovating around the emerging trends for more conscious consumerism & ultra-convenience
With key younger adult consumers in particular looking to be more responsible in terms of their health and the wider environment, and also wanting technology-led time-saving solutions, the next few years promises to be an exciting period as the market adapts and evolves
FOOD-TO-GO IN CONVENIENCE RETAIL IS EXPECTED TO RISE TO £0.5 BILLION OVER THE NEXT THREE YEARS
Convenience stores can expect to see a total of £6.2bn in 2019, making up around 30% of the total food-to-go market
However, convenience stores are losing market share to more specialist foodservice food-to-go operators, so that despite continuous growth in food-to-go, the share held by convenience retail has declined slightly since 2013
PRICE, CONVENIENCE AND QUALITY ARE THE KEY TRENDS THAT RETAILERS NEED TO FOCUS ON TO BOLSTER THEIR SHARE IN THE FOOD-TO-GO SECTOR
Lunch and snack occasions are dominated by the grocery retailers; however, consumers are placing greater importance on range, in particular healthier options. Those retailers that are seeing great success in food-to-go are offering a variety of hot and cold options that cater to the needs of their particular shoppers.
Expect more growth to come in breakfast, healthy snacks, hot food, global food and plant-based offerings – exciting times ahead for food-to-go!