The medium-hard cheese production in the UK has experienced a significant decline over the period from 2013 to 2023, where it stood at 17.73 Thousand Metric Tons. The year-on-year variations indicate consistent negative growth in recent years, with values plummeting from 48.14 Thousand Metric Tons in 2013 to the current level. Noteworthy year-on-year changes include the substantial drops observed in 2016 (-39.59%) and 2019 (-12.13%). The five-year Compound Annual Growth Rate (CAGR) leading to 2023 is -8.53%, underlining the sector's steady contraction.
Going forward, from 2024 to 2028, the medium-hard cheese production is anticipated to continue its downward trajectory, forecasting an annual reduction rate of -11.12% and an overall decrease by 44.54% by 2028. This trend reflects not only current market conditions but also broader challenges such as changing consumer preferences and potential supply chain disruptions.
Future trends to watch for:
- Shift in consumer dietary preferences towards plant-based alternatives.
- Impact of Brexit on the dairy supply chain and international trade relationships.
- Innovations in cheese production technology aimed at sustainability.
- Potential policy changes affecting dairy farming and production subsidies.