The UK food-to-go market will be worth £23.4bn by 2024 according to a study by research and training charity in the food and consumer goods industry IGD .
IGD’s research suggests the UK food-to-go market will grow by 26.4% by 2024 from £18.5bn to £23.4bn. This is double the growth of the wider UK food and grocery market, which is expected to grow by 12.5% over the next five years.
IGD head of shopper and food-to-go insight Rhian Thomas said: “Food-to-go remains a key growth opportunity for businesses and one that appears particularly attractive given the structural and growth challenges being faced by UK supermarkets and hypermarkets right now.
“While there continue to be good opportunities for growth in this area, the gap will continue to grow between those businesses who are actively targeting food-to-go growth and those who simply want a presence in the channel. Opportunities remain, however, for those with clearly defined and relevant strategies.”
Thomas added: “ Food-to-go specialists include a wide selection of different operators, and within this segment we’ve witnessed contrasting fortunes and performance over the past year.”
Fast-food restaurants such as McDonald’s, Burger King, KFC and Five Guys will also see an increase in sales from £5.8bn in 2019 to £7.2bn in 2024.
Thomas added: “The quick-service restaurant (QSR) channel has remained strong despite an increase in the choice of food-to-go options and a greater focus on healthier eating, which is not an area that QSR’s are traditionally known for. The combination of improved in-store environments and technology, along with targeting the online meal delivery channel has all been factors that are driving driven growth.”
Thomas added: “Over the past 12 months we have seen significant developments from coffee specialists, with a clear trend towards the expansion of smaller more niche chains.”