Food-to-go sector to reach £17.8 billion in 2018, IGD forecasts
The retail analysis company also observes a "blurring" between different segments.
The food-to-go sector will reach £17.8 billion this year, according to a latest forecast by IGD.
Growth will meanwhile slow and deliver growth that will average 5.0% (CAGR) over the next five years to take value to £22.8 billion by 2023.
IGD previously predicted that the food-to-go market will be worth £23.5 billion by 2022.
An infographic showing IGD's forecast on the food-to-go sector.
IGD says they also see an "increasing blurring" between segments. "Specifically, food-to-go specialists as diverse as Greggs and Coco di Mama have been bolstering their coffee credentials, while convenience stores, among the most notable this year being EAT17 and the Coop, have focused on enhancing the range of food-to-go options on offer to meet more missions more effectively," IGD said in a post.
Collaborations and the changing demands in health and wellness and around sustainability are also some trends that IGD observed.
"The best food-to-go operators are highly attuned to the wider mindset of their shoppers. They have responded to shape their wider propositions accordingly. Increasingly this will become expected by food-to-go consumers, and those that don’t keep up will stand out."
Food-to-go is also moving beyond the high street, with operators opening up to new types of locations.
"While online ordering and delivery is one aspect of this, perhaps in its current form the online opportunity will only be transformational for a select few. More widely however, getting into new, different types of locations, including forecourts and other travel locations, is likely to be an increasingly significant route to growth for a growing number of players in food-to-go," IGD added.
