Between 2013 and 2023, the output of paper products in the UK demonstrated periodic fluctuations. The data for 2023 shows that the value stood at £12.79 billion. Over the last two years, from 2022 to 2023, the year-on-year variation was 1.12%, reflecting moderate growth after witnessing a substantial decline in 2020 due to external factors possibly including the pandemic. Despite these fluctuations, the compound annual growth rate (CAGR) over the last five years averaged 0.79%, indicating slight but steady growth.
Looking forward, the forecast suggests a continued upward trajectory with a projected value of £13.53 billion by 2028. The next five years forecast a moderate CAGR of 0.89%, with an overall growth rate of 4.51% over this period.
Future trends to watch for include the impact of sustainability and environmental regulations on production processes and the increasing demand for eco-friendly paper products. Additionally, advances in digitalization may influence the demand curve for paper products.
