UK Convenience Market To Be Worth £48.2bn By 2024: IGD
The UK convenience market is projected to grow by £6.9 billion (€7.5 billon) in the next five years to £48.2 billion (€52.2 billion) by 2024, according to IGD.
The category is expected to see a compound annual growth rate of 3.1%, boosted by new store openings during the period.
'Period Of Consolidation'
Senior business analyst at IGD, Patrick Mitchell-Fox, explained, "While we expect relatively muted store development across the sector as a whole in the next two years, with the sector undergoing a period of consolidation, we forecast key segments – in particular co-operatives, multiples, and symbols – to benefit from strong store growth again from 2021."
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!