Lidl is set to hit £21bn in investment in the British food industry by the end of 2024, exceeding its original five-year target of £15bn by 40%.

The supermarket has invested £5bn in this year alone, covering a range of sectors including transforming two-thirds of its products from its permanent range to be from British suppliers and 100% of its fresh milk, butter, cream, eggs, pork, chicken and beef.

Lidl chief commercial officer Richard Bourns said: “As we celebrate 30 years of Lidl in Great Britain, it’s a fitting time to reflect on how far we’ve come.

“One of the things we’re most proud of are the strong relationships we’ve built with British suppliers, who have grown with us over the years.

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“Now more than ever, we remain committed to supporting British farmers, ensuring we’re a dependable partner to those who put quality, home-grown food on Lidl shelves across the country.

“By continuing to invest in British agriculture, we’re helping to ensure our suppliers can thrive in the future, providing the British-sourced products our customers love all year round.”

Lidl’s commitment follows announcements made by the discounter earlier this year, including last month when it revealed it had injected £1bn into the British free-range egg industry.

Alongside the financial investments, Lidl is also expanding its Grassroots initiative for its suppliers and is set to launch a Grassroots Farming Conference to strengthen ties with British farmers across more sectors.