According to food and drink industry experts at Clydesdale & Yorkshire Banks, the time is right for businesses to consider capitalising on export opportunities.
Strong export figures for the UK’s food and drink industry in mature and emerging markets has left the sector well-placed to enjoy a period of prolonged growth, say the Banks.
UK food and drink exports increased by 14.8% in 2011 (compared to 2010) and were worth a total of £18.1bn, according to recent figures from the Food and Drink Federation.
The statistics show Ireland remains Britain’s number one export destination but emerging trends indicate there is plenty to be positive about elsewhere. These trends in 2011 included a 55% increase in exports to China, and by 49% to Poland.
The figures highlight that the food and drink sector remains remarkably buoyant, despite wider speculation about the prospects for the global economy.
The growth in Asian markets can be partly put down to changing eating habits, with more westernised products being bought by wealthier customers.
While their supermarkets may not yet be widely stocked with UK products, there is a growing trend for specialist shops to carry well-known brands, with meat and cereals amongst the leading growing markets.
Source: Clydesdale & Yorkshire Banks