In 2023, the value added of the food and beverages sector in the UK stood at £30.45 billion. The forecasted figures for the following years show a steady increase: £30.79 billion in 2024, £31.15 billion in 2025, £31.49 billion in 2026, £31.83 billion in 2027, and £32.16 billion in 2028. The year-on-year variations indicate a consistent upward trend:
- 2024: +1.12%
- 2025: +1.17%
- 2026: +1.09%
- 2027: +1.08%
- 2028: +1.04%
Over the last five years, the compound annual growth rate (CAGR) is approximately 1.10%, reflecting a stable but moderate growth trajectory.
Future trends to watch for include the impact of post-Brexit trade deals, advancements in food technology, and shifts in consumer preferences towards sustainable and health-conscious products. Additionally, economic factors such as inflation and supply chain disruptions could influence growth in this sector.
