Already, the US is the UK’s third most important market for food and drink exports while China is also a top ten market. First-half sales to these countries were up by 11% and 16% respectively. The FDF thinks there is much more to come, with both countries among the five markets it has identified as top targets for growth - alongside India, the United Arab Emirates (UAE), and Japan.
UK food and drink manufacturers should not be afraid to explore the opportunities in these exciting markets. The growing middle classes of India and China offer a huge new customer base for British businesses, with premium products rising in popularity. In Japan, packaged food producers are targeting the large middle class and more elderly population. In the United Arab Emirates (UAE), the international populations of countries such as the United Arab Emirates are enthusiastic consumers of a huge variety of products made in Britain. The US, as the world’s largest economy and featuring similar consumer dynamics to the UK, is a natural fit for our food and drink manufacturers.
Nevertheless, the complexities of individual markets - and the different opportunities from one to another – mean food and drink manufacturers will need support as they expand overseas. That means strategic advice on which markets have most to offer, as well as practical help with entering new territories and trading locally.