The UK food and grocery market is set to grow 15% between 2019 and 2024, according to the latest research.
The grocery market will be worth £174.5bn by the end of 2024. However, the big four grocers will lose 1.1% of the market share – worth £1.9bn according to Global Data.
The big four supermarkets – Tesco, Sainsbury’s, Adsa and Morrisons – grocery sales will grow 12.6% between 2019 and 2024, however the online grocers and discounters will grow 55.1% and 25% respectively.
Global Data retail analyst Thomas Brereton said: “The recent set of supermarket Christmas trading results shows that UK shoppers still have an unsatisfied appetite for the proposition of the discounters; Lidl performed especially admirably, growing year-on-year sales 11% in December.
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