The Food and Drink Federation (FDF) predicts that consumers will inevitably face higher food and drink prices over the next few years, causing a knock-on effect for food processors across the country.
Supermarket chain Morrisons has accepted a cash offer of £6.3 billion from a US investment group, however, a rival bidder is considering making an offer.
IGD anticipates a five-year period of recovery that will see the market ‘bounce back’ to above pre-pandemic forecasts.
Grocery market share figures from Kantar for the 12-week period ending 13th June 2021 show that the average spend per store trip is down 13.6% compared to last year.
The packaging-free refillable grocery concept Fill Your Own, introduced in three M&S stores in December 2019, is being added to eight more stores and the product range will be expanded.
A report by the British Retail Consortium (BRC) suggested that consumers were likely to see food prices increase later this year as cost pressures and Brexit red tape hit suppliers.
