Grocery Markets in the UK - Market Research Report (2014-2029)
London, United Kingdom
Last Updated: May 2024
SIC G47.810Revenue
£370.8m
Past 5-Year Growth
Profit
£XX.Xm
Employees
7,286
Businesses
1,445
Wages
£XX.Xm
Grocery Markets in the UK industry analysis
Grocery markets' performance is sensitive to the level of household disposable income, health consciousness, environmental awareness and competition from other grocery retailers like supermarkets. Health consciousness and environmental awareness are ever-growing, with individuals more concerned about the provenance of their food. Organic, sustainable and local products are growing in popularity and boosting revenue as consumers are happy to pay a premium for higher-quality goods with traceable production.
Trends and Insights
- The COVID-19 outbreak damaged industry revenue. The Grocery Markets industry was considered essential by the government. However, many markets were closed or operated at reduced capacity to ensure the safety of operators and customers.
- Consumers are seeking higher-quality meats. Consumers have become increasingly interested in the provenance of their meats and the perceived higher quality of meats from grocery markets.
- London is home to historical markets. These include Borough Market, Portobello Market and Spitalfields Market. The city also has the most affluent population in the UK, meaning consumers tend to spend more on grocery products.
- Market stalls compete on price and quality. Price is often competitive within each market, though prices can be higher when there is a relative monopoly on products. As price competitiveness can harm profit, stalls differentiate on product range and provenance.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 8.3 % over the past five years, to reach an estimated £370.8m in 2024.
Trends and Insights
COVID-19 wreaked havoc on revenue
- The Grocery Markets industry was considered essential by the government. However, many markets were closed or operated at reduced capacity to ensure the safety of operators and customers.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Consumer preferences for organic and local produce will strengthen
- The ongoing shift in buying habits to favour sustainably sourced, organic and local products as a result of ever-growing health consciousness and environmental awareness will benefit grocery market sales.
Biggest companies in the Grocery Markets in the UK
| Company | Market Share (%)
2025 | Revenue (£short_0)
2025 |
|---|
There are no companies that hold a large enough market share in the Grocery Markets in the UK industry for IBISWorld to include in this product.
Products & Services Segmentation
Grocery Markets in the UK
Products & Services
Industry revenue is measured across several distinct product and services lines, including Meats, Fruit and vegetables and Bakery products. Meats is the largest segment of the Grocery Markets in the UK.
Trends and Insights
Consumers are seeking the higher-quality meats offered by grocery markets
- Grocery markets often sell various meat products, including more traditional meats like beef, chicken, lamb and pork and more exotic meats like ostrich, kangaroo and reindeer.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- There are no industries to display.
International industries
- Meat Markets in the US
- Specialty Food Stores in Canada
- Fresh Meat, Fish and Poultry Retailing in Australia
- Specialised Grocery Retailing in New Zealand
- Einzelhandel mit Obst, Gemüse und Kartoffeln
Table of Contents
About this industry
Industry definition
Operators in this industry retail food and beverages, such as meat, fish, fruit, vegetables and other groceries, via stalls and markets. The industry excludes the sale of prepared food for immediate consumption.
What's included in this industry?
MeatsFruit and vegetablesBakery productsFishBeveragesOther groceriesCompanies
Purchase this report to view all major companies in this industry.
Related Terms
STALLFISHMONGERSOURDOUGHIndustry Code
SIC 47.81 - Grocery Markets in the UK
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The COVID-19 outbreak damaged industry revenue. The Grocery Markets industry was considered essential by the government. However, many markets were closed or operated at redu...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Consumers are seeking higher-quality meats. Consumers have become increasingly interested in the provenance of their meats and the perceived higher quality of meats from groc...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
London is home to historical markets. These include Borough Market, Portobello Market and Spitalfields Market. The city also has the most affluent population in the UK, meani...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Market stalls compete on price and quality. Price is often competitive within each market, though prices can be higher when there is a relative monopoly on products. As price...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
There are no companies operating in the industry. The owner-operator nature of the industry and small size of stalls mean that no individual company is likely to have any sub...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Over 2022-23, real household disposable income is falling. Real household disposable income represents the ability for consumers to purchase the higher-value discretionary go...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit has been hindered by soaring purchase costs. Grocery markets must pass increased costs on to their customers to remain profitable, although constrained disposable inco...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2018-2022)
- Coverage Ratios (2018-2022)
- Leverage Ratios (2018-2022)
- Operating Ratios (2018-2022)
- Assets (2018-2022)
- Liabilities (2018-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the UK include:
- Office for National Statistics
- Office for Budget Responsibility
- Bank of England
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Grocery Markets in the UK industry in United Kingdom in 2024?
The market size of the Grocery Markets in the UK industry in United Kingdom is £370.8m in 2024.
How many businesses are there in the Grocery Markets in the UK industry in 2024?
There are 1,445 businesses in the Grocery Markets in the UK industry in United Kingdom, which has grown at a CAGR of 4.4 % between 2019 and 2024.
Has the Grocery Markets in the UK industry in United Kingdom grown or declined over the past 5 years?
The market size of the Grocery Markets in the UK industry in United Kingdom has been growing at a CAGR of 8.3 % between 2019 and 2024.
What is the forecast growth of the Grocery Markets in the UK industry in United Kingdom over the next 5 years?
Over the next five years, the Grocery Markets in the UK industry in United Kingdom is expected to grow.
What does the Grocery Markets in the UK in United Kingdom include?
Meats and Fruit and vegetables are part of the Grocery Markets in the UK industry.
How competitive is the Grocery Markets in the UK industry in United Kingdom?
The level of competition is high and increasing in the Grocery Markets in the UK industry in United Kingdom.
