UK food industry aims for 20% growth by 2020

The Food and Drink Federation (FDF), representing the UK’s food and drink manufacturing (FDM) industry, and the UK Government have launched a shared vision to achieve 20% growth in food and drink manufacturing by 2020.

The federation plans to boost the potential of the industry by gaining new export markets, ensuring that the food industry can retain and attract the skills and talent it requires over the next few years, especially in important roles such as food scientists and engineers.

Secretary of State for the Environment, Food and Rural Affairs Caroline Spelman MP said there was going to be huge opportunities for the UK’s food industry to supply an increasingly hungry world in coming years and sell high quality products to emerging markets.

“That’s why alongside manufacturers we’re leading a range of strategies, focussed on competitiveness, to drive economic growth. 2020 is a welcome project that will fully complement all the ambitious work we’re doing,” Spelman added.

According to the FDF, recent research undertaken by Grant Thornton has helped the organisation to identify the major opportunities and barriers to the growth in the sector.

Together with the government and develop a detailed plan to work towards the shared vision, to maximise the sector’s potential and contribute to the UK economy.

The Grant Thornton report evaluated 102 interviews, which were conducted amongst senior executive and staff of UK food and drink manufacturing businesses.

The report concluded that the FDM industry can achieve sustainable growth and contribute to the UK economic recovery by building on its strengths and minimising its weaknesses.

The report identified that the industry will be able to achieve this only if it functions in a supportive regulatory environment that incentivises business investment.

The food industry is the largest manufacturing sector in the UK, and according to the 2009 figures, it contributed significantly to the UK economy through turnover of £72.7bn, exports of £10.8bn, average employment levels of 377,000.

Caption: FDF and the UK Government set out a shared vision for the food and drink manufacturing industry to achieve 20% growth by 2020. Image courtesy of lyzadanger.