Between 2013 and 2023, the UK’s sold production of prepared meals and dishes fluctuated significantly. It peaked in 2015 with a 16.57% year-on-year increase but plummeted by 48.28% in 2018. A recovery followed, and by 2023, the sector saw a modest 1.92% growth with the value reached 3.7713 Billion Euros. For the last two years, there was a notable uptick of 2% in 2022 and 1.92% in 2023. The last CAGR was 12.85% over the past five years.
Future forecasts indicate a slow and steady growth with an expected CAGR of 1.48% from 2024 to 2028, amounting to a 7.6% growth rate over the five-year period.
Future trends to watch include:
- Changing consumer preferences towards healthier and organic ready meals.
- Impact of inflation and economic conditions on consumer spending.
- Technological advancements in food preparation and packaging.
