In 2023, the food, beverages, and tobacco sector in the UK consumed 79.2 Thousand Tonnes of Oil Equivalent of renewables and biofuels. The forecast indicates a steady growth in consumption from 2024 to 2028, with values increasing annually from 83.13 to 99.64 Thousand Tonnes of Oil Equivalent. The year-on-year percentage growth from 2024 onwards is:
- 5.13% from 2024 to 2025
- 4.77% from 2025 to 2026
- 4.46% from 2026 to 2027
- 4.18% from 2027 to 2028
The compound annual growth rate (CAGR) over this five-year period is approximately 4.77%. Future trends to watch include policy changes in sustainability, investment in renewable technologies, and shifts in consumer preferences towards eco-friendly products, which could influence further increases in consumption.
