The industry employs over 400,000 people which will need to increase by 170,000 by 2020 to meet demand.
The UK has 64 million consumers who spend around 200 billion GBP a year on food and drink. Weekly spend has risen by almost 60% since 2007 to around 40 GBP per person per week.
Food and drink businesses looking to set up here will find:
- a country placed seventh in the world for ease of doing business, according to the World Bank
- the most competitive labour costs in Western Europe as rated by the World Economic Forum
- some of the leading food research facilities in Europe including the Institute of Food Research
- the lowest corporation tax rate in the G20, at 19%, falling to 17% by 2020
- a growing ‘freefrom’ market that produces products with gluten and dairy removed