Since 2008, predictions for the prepared consumer foods sector have been uniformly glum. This year, however, there are signs of a recovery, even though it is unevenly distributed around the country. Unfortunately, the domestic grocery sector, upon which consumer foods companies depend, is spread across recovering and non-recovering regions and is likely to remain flat overall in 2014.
The sector will continue to enjoy export growth as companies diversify markets while continuing to target Britain — its key market. Thus, the sector will likely face a dual recovery; those companies focused on exports will see growth, while those focused on the domestic economy are likely to continue to face challenges.