IGD is predicting the burgeoning food-to-go market will be worth £21.7bn by 2021, up from £16.1bn this year, offering significant opportunities for growth.
IGD splits the market into five segments, with all expected to increase significantly by 2021, and it forecasts food-to-go sales at convenience, forecourts and other retailers will grow from £2.5bn in 2016 to be worth as much as £3.3bn in five years’ time.
Joanne Denney-Finch, IGD chief executive, said: “Over the next five years, we are forecasting growth of up to 35% for the overall food-to-go market, providing there is a favourable economic backdrop. Suppliers are seeking ways to expand, so the growth potential of this dynamic and rapidly shifting sector represents a really clear opportunity. However, food-to-go is a different market to grocery retail and requires a distinct approach to succeed.”
She added: “Busy, flexible lifestyles mean shoppers are shopping little and often, and this culture is causing a boom in food-to-go for convenience stores, which have a strong forecasted annual compound growth of 5.8%. To ensure they meet this demand, we have seen convenience retailers introducing specialist food-to-go counters in their stores, as well tailoring their ranges to the different times of the day shoppers purchase this category.