The UK fruit and vegetable processing sector has experienced varied growth rates over the past decade. In 2023, the sector's production stood at 7.21 billion pounds sterling. Year-on-year analysis reveals that there was a modest increase of 1.68% from 2022 to 2023, following a growth of 1.74% from 2021 to 2022. The compound annual growth rate (CAGR) over the last five years (2018-2023) is calculated to be 2.59%, indicative of a steady upward trend overall.
Looking ahead from 2024 to 2028, forecasted data suggest a continuation of this upward trend with an anticipated CAGR of 1.3%, leading to a forecasted value of 7.84 billion pounds sterling in 2028. This period is projected to witness a cumulative growth rate of approximately 6.68% over the five years.
Future trends to watch for:
- Technological advancements impacting processing efficiency.
- Shifts in consumer preferences toward health-conscious and sustainable products.
- Regulatory changes that may affect production costs and operations.
- Impact of global supply chain dynamics, particularly in the context of post-Brexit and COVID-19 recovery phases.
