The UK retail parks market is forecast to be worth almost £64 billion by 2029. It is expected to be the fastest-growing retail location over the next five years (with retail spend rising 13.7% between 2024 and 2029) due to the appealing mix of value players and essential products. Retailers and property management firms alike must continue to invest in retail park formats to capitalise on this momentum as shoppers seek to dwell longer and utilise these locations for services such as gyms and coffee shops alongside retail spending, according to GlobalData, a leading data and analytics company.

GlobalData’s latest report, “Retail Location Series: UK Retail Parks, 2024-2029”, reveals that the UK retail parks market will grow by 2.8% in 2025, outpacing the 2.0% growth forecast in the UK offline market. This retail location is expected to outperform offline retail as shoppers seek the advantages that these destinations provide, such as value retailers, free parking, food service options, and various family-friendly activities.

Zoe Mills, Lead Retail Analyst at GlobalData, comments: “With CPI inflation reaching 3.8% in October 2025, shoppers are prioritising affordability and necessity-led purchases. The food & grocery sector is expected to grow by 20.9% within retail parks between 2024 and 2029, making value grocers a dependable anchor choice. Value food & grocery retailers, including Aldi and Lidl, provide broad customer appeal and stable trading in weaker economic periods. While the UK offline retail market is expected to accelerate marginally in 2026, centring retail parks around strong value grocery retailers will drive consistent and reliable footfall that can benefit adjacent retailers, as well as leisure and service providers.”

Outside of the food & grocery segment, health & beauty retailers have the most to gain through opening or enhancing retail park stores. Health & beauty’s share of the UK retail parks market is forecast to rise to 8.9% by 2029, as sector spend increases by 16.9% between 2024 and 2029, reaching an estimated £5.7bn by 2029.

Mills concludes: “More health & beauty retailers, such as Boots and Superdrug, are expanding their presence in retail parks, driving this robust growth. These larger-format stores can stock a wider variety of products and offer more engaging services for customers. Indeed, with time spent shopping at retail parks rising (more consumers are spending between 2- 4 hours at these locations in 2025), shoppers have the time to browse more items, locate niche up-and-coming brands, and spend time having a pamper or talking to healthcare services.”