Retail food prices in the UK look set to increase by 5% during 2025. Moreover, it’s a trend that looks set to be maintained well into the future.
This is the strongly held view of food business analyst Dr. Clive Black. He spoke at the recent Northern Ireland Food and Drink Association (NIFDA) annual conference.
According to Black, UK consumers must be prepared to pay more for their food into the future.
“Food expenditure currently represents 9% of most household incomes,” he explained.
“Previously, this figure was up at 40%. So there is significant scope for consumers to allocate higher proportions of their income to food and drink purchasing.”
Currently, Northern Ireland accounts for 15% of all the food produced in the UK.
“There is no reason why this figure cannot be increased to 20%. And this expansion in output can be achieved in a wholly sustainable manner,” Black added.
Despite the hype that has recently surrounded laboratory cultured meat alternatives, the food business consultant believes that demand for grass fed beef and lamb that is produced in the UK will increase
“And this is more good news for the farming and food sectors in Northern Ireland,” he stressed.
Northern Ireland Minister for Agriculture, Environment and Rural Affairs, Andrew Muir, also addressed the NIFDA conference.
“The food and drink processing sector is our largest manufacturing sector in Northern Ireland. But food delivers so much more beyond the economy and has a direct role to play in tackling a range of societal issues, such as obesity, food poverty, waste, climate change, and biodiversity loss,” he said.
“I was proud to launch the NI Food Strategy Framework last year, which sets out a long-term vision for an innovative food systems approach and recognises the interconnectedness between food, health, the economy, and the environment.
“An environmentally sustainable approach that protects and enhances our natural resources for future generations, whilst being economically ambitious and providing safe nutritionally balanced, accessible food for all.”
“I believe in the quality Northern Ireland produce, and I believe whole heartedly in the potential of our agri-food sector to rise to the challenge of continuing to produce healthy, nutritious food, whilst doing more to tackle the climate and nature crisis.
“The agri-food sector has a huge amount to gain from taking an active role in improving our environment, and I am determined to support the sector in this endeavour,” the minister added.
