Retail and foodservice will grow in 2021, report finds Print
The UK food and drink market is forecasted to grow by 12% in 2021, new research reveals.
The latest Eating In vs Dining Out report, produced by IGD in collaboration with foodservice consultant Peter Backman, finds the forecasted increase is driven by strong retail growth from January to March and foodservice sales that will begin to strengthen from July onwards as ‘”pent-up demand for socialising” boosts the sector.
Foodservice will grow by 54% (£18.6bn) on last year’s figures, the report predicts. Some of this growth will impact retail, but elevated levels of homeworking, at-home social gatherings, and financially stretched consumers will see the retail sector continue to grow.
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