Boston, MA -- (SBWIRE) -- 06/23/2014 -- The UK economy will set the pace for growth in Europe this year. Given the strength of recent growth numbers and the continued slew of positive macro data, we have revised up our 2014 growth forecast to 2. 6 % from 2.1 % previously. However, we continue to warn that without a robust recovery in wages and business spending, the current rebound is at risk of losing momentum. In fact, most of the recent boom in consumer spending has been encouraged by rising property prices in London and other localised areas, which is unsustainable for retailers. As a result, we are cautious about growth in the food and drink area, especially in value terms as competition for value and consumer's more careful spending habits will limit potential for the industry in the near term.

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Headline Industry Data

- 2014 total food consumption growth (local currency terms): +3.0%; compound annual growth rate (CAGR) to 2018: +4.1%.

- 2014 per capita food consumption growth (local currency terms): +2.4%; CAGR to 2018: +3.6%.

- 2014 total soft drinks value sales (local currency) growth: +4.8%; CAGR to 2018: +4.8%.

- 2014 alcoholic drinks value sales (local currency) growth: +2.0%; CAGR to 2018: +2.3%.

- 2014 mass grocery retail (MGR) sales (local currency) growth: +2.2%; compound annual growth rate (CAGR) 2014 to 2018: +2.8%.

Key Company Trends

Premier Foods Sells Majority Stake In Hovis : UK food company Premier Foods has had a particularly tough few years. The company owns a number of ubiquitous British food brands, including Bisto Gravy and Mr. Kipling Cakes, but has been on a downward spiral, with operating income declining in three out of the last four years. This is requiring the firm to increase its focus on its more profitable grocery business at the expense of laggards such as bread.

Coffee#1 Sales Increase 55% In 2013 : UK-based coffeehouse chain Coffee#1 has reported a 55% increase in sales for its FY13 ended October 31 2013. The firm, purchased by Welsh...

The United Kingdom Food & Drink Report features Business Monitor International (BMI)'s market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.

BMI's United Kingdom Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in United Kingdom.

Key Benefits

- Benchmark BMI's independent food and drink industry forecasts for United Kingdom to test other views - a key input for successful budgeting and strategic business planning in the British food and drink market.
- Target business opportunities and risks in United Kingdom through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
- Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, and views, covering food and drink manufacturing and consumption and the retail market.

Business Environment Ratings

BMI's Food & Drink Business Environment Ratings provide a country-comparative Risk-Reward Ratings index aimed at investors, food and drink manufacturers and mass grocery retailers.

The ratings methodology makes sophisticated use of over 40 industry, economic and demographic data points.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the food, drink and mass grocery retail sectors, and within the broader political, economic and business environment.

Food Forecasts

BMI's food chapter is divided into sections such as Meat, Fish, Confectionary, Dairy and Canned Foods, and provides insight into a market's food industry, centred on a forecast to end-2018 for the sector. The chapter includes the following elements:

Industry Forecast Scenario - Historical data series and forecasts to end-2018 for growth of key indicators within a market's food industry. Including consumption, food consumption as % of GDP, canned food sales, confectionery sales and food and drink imports and exports, among others.

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