United Kingdom: Retail Foods

The UK retail sector is one of the most sophisticated in the world, with the UK retail grocery market valued at $282 billion in June 2022. Discounters remain the fastest growing channel, with online grocery shopping remaining stable after achieving unprecedented growth during the pandemic. The UK is experiencing a cost-of-living crisis with rising food, energy, and fuel costs resulting in UK inflation hitting a 40-year high figure of 9.1 percent. Consumers will have less disposable income with some having to make choices as to what they buy. Health and wellness, free-from, and convenience products as well as vegan, vegetarianism, sustainability, and environmentally friendly products are all key drivers in the UK food retail industry.