The UK bread market experienced significant volatility from 2013 to 2023, starting with steady growth, peaking in 2014, and then declining sharply in 2018. Despite some recovery attempts, market value continued to decline modestly with a compound annual growth rate (CAGR) of approximately 0.4% over the last five years, reaching 4.9371 Billion Euros in 2023. Year-on-year variation over the last two years has been negative at -0.41% annually.
Looking into the future, market forecasts suggest a continued decline at a forecasted CAGR of -0.31% until 2028, predicting a market value of 4.8419 Billion Euros by then. This trend indicates a shift in consumer preferences and potential market saturation.
Future trends to watch for:
- Increased demand for healthier bread options with low carbs and high fiber.
- Growing interest in gluten-free and specialty bread products.
- Technological advancements in bread production for longer shelf life and reduced waste.
- Shifts in consumer purchasing patterns towards more sustainable and locally-sourced products.
