The UK’s food-to-go sector is set to grow at twice the rate of overall grocery retail, with research organisation IGD predicting the channel to grow to £22.8bn by 2023.
The predicted growth of £22.8bn by 2023 is up from a £17.8bn growth in 2018.
Food-to-go research splits the market into five segments, with the organisation’s latest forecasts suggesting food-to-go specialists will experience the fastest growth.
Increasing fusion between the different segments within the market is also anticipated as businesses look to extend their core capability into new areas.
Gavin Rothwell, head of food-to-go at IGD, says: “The food-to-go market remains a strong growth opportunity that continues to provide a great source of inspiration and innovation.
“Across food-to-go, collaboration between partners with the same values and mutually beneficial propositions, have been in the ascendance.
“Crussh and Sainsbury’s, M&S and Wasabi are two high profile collaborations, but there are already many more underway and we expect significant development here.
“Larger retail stores undergoing remodelling in particular offer some great opportunities for collaborations between retailers and food-to-go partners.”
Food-to-go is said to be increasingly moving beyond the high street, as operators look to open up new types of locations.
Rothwell explains that new, different types of locations, including forecourts and other travel locations, are likely to be an increasingly significant route to growth for a rising number of players in food-to-go.
Rothwell concludes: “Across a variety of missions, locations and segments, the food-to-go market remains worthy of considerable focus and attention for those looking to grow food and drink businesses over the next five years.”