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May 14, 2020

UK noodles firm Mr Lee’s Pure Foods enters US

Mr Lee's Pure Foods Co., a UK supplier of on-the-go noodles, has added a fifth country to its roster of markets.

By Dean Best

Mr Lee’s Pure Foods Co., a UK supplier of on-the-go noodles, has entered the US.

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The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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The business, set up in 2015, has secured listings with Whole Foods Market, with availability on amazon.com to follow “very soon”.

Mr Lee’s launch into the US follows its latest round of investment via Seedrs, the online platform for investment in fledgling firms. The company raised just under GBP1.8m (US$2.2m) from “multiple investors”, it told just-food.

Since Mr Lee’s started business, it has raised GBP6.5m through four rounds on Seedrs. Founder Damien Lee owns 18% of the company, which is based in the southern English town of Bournemouth.

In the UK, Mr Lee’s products are sold at Asda, the country’s third-largest grocer, as well as through health-food retailer Holland and Barrett, Amazon and online pure-play Ocado.

The company also sells in Ireland, France and Australia and has secured listings with European and Australian airlines.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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