Investigate, Outline and Analyze UK Food Industry Essay

Investigate, Outline and Analyze UK Food Industry - Essay Example As the report stresses in the modern world of globalisation, the economy of one country is related to that of another. Under such a scenario, free markets exist where the governments do not regulate the prices rather the prices are fixed by the demand and supply system. Therefore, an industry not only depends on the products offered by the domestic companies, but also in this era of globalization and free market, on the competitors in the industry. With the presence of many competitors in the market, people get the high quality products at lower prices. In UK, the government’s liberalization of the economy from the 1980s has led to increased market competition in all the industries. The researcher has chosen the food industry of UK for the analysis. The paper declares that the food industry in UK is ruled by supermarkets and retailers that have an effective supply chain system. The process starts from the cultivation of food in the farm land. The farmers produce the food and the retailers buy the raw materials from them. The retailers then pack the food and bring it to the customers. There are many players in the industry and so the competition is intense. As the market is a free one, so the entry barriers are lower and for that there are new companies who want to enter the market. The food sector can contribute in an effective way. As the food industry is growing and employment conditions are better here, the industry can take a leading role towards the growth of UK’s economy.