Procurement Outsourcing Services in the UK - Industry Market Research Report

Bad Procurement: in 2023-24, Industry Revenue is Forecast to Drop due to Lingering Uncertainty Within the UK Economy

Downstream businesses outsource the procurement of assets to companies in the procurement outsourcing services industry, which helps businesses to focus on their primary business activities, increasing efficiency and profit. Procurement outsourcing companies also provide analysis and expertise to clients with their procurement operations. The main markets for the industry are manufacturers, retailers and food processors. Government contracts are also a significant source of industry revenue. Over the five years through 2023-24, the procurement outsourcing service industry is expected to contract at a compound annual rate of 2.2% to £1.6 billion.

Businesses in this industry provide direct and indirect procurement services for their clients. Procurement is obtaining goods or services, typically for business purposes. Direct procurement relates to obtaining goods or services to maintain the company's primary activity. Indirect procurement includes everything else.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.