LONDON--(BUSINESS WIRE)--UK’s food retail market has witnessed steady growth these last few years. Despite sales increasing from various avenues, market share is still dominated by four leading supermarket chains: Tesco, Sainsbury’s, ASDA, and Morrison’s. However, new trends have emerged as discount chains and e-commerce food retail are gaining popularity in the market. These trends have generated incredible impact for the UK food and beverage industry.
In a recent article titled Food Retail Market in UK Seeing Increased Growth, BizVibe takes a look at the latest developments and news from UK’s food retail market.
BizVibe notes that UK’s food retail market was valued around £179.1 billion (US$232.8 billion) in 2016. The market value is projected to grow nearly 10%, to £196.9 billion by 2021. Currently, over 70% of the market share in UK’s food retail sector is dominated by the four leading supermarket chains, including Tesco, Sainsbury’s, ASDA, and Morrison’s, of which Tesco is the largest food retailer in UK, with 28.2% market share.
However, the rise of food discounters such as Lidl and Aldi, as well as the fast-growing e-commerce for food retailing are expected to bring more competitions to the market in near future. The growth rate of food discounters’ sales has already outpaced the “big four”, posting an impressive 11% value growth rate in 2016. Meanwhile, the sales of online food retail continue to standout in UK’s food retail market with total value of £9.3 billion.
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