The output of Food, Beverages, and Tobacco in the UK has seen a steady increase over the years. Starting from £89.65 billion in 2013, it reached £105.89 billion in 2023, marking a significant growth trajectory. The year-on-year variation in values shows periods of notable increases and slight declines. The most recent annual growth rates were 1.49% in 2022 and 1.43% in 2023. The five-year compound annual growth rate (CAGR) leading up to 2023 was 1.32%.

Looking ahead, forecasted data from 2024 to 2028 suggests continued growth, with the output expected to rise to £113.71 billion by 2028. The forecasted five-year CAGR is 1.12%, leading to an overall projected growth rate of 5.75% over this period.

Future trends to watch for:

Technological advancements and innovation in food processing and production.
Increased consumer demand for health-focused and sustainably-produced products.
Potential impacts of macroeconomic factors including Brexit-related trade adjustments.