The UK production of processed cheese has seen significant fluctuations over the last decade. From a peak value of 112.49 million Euros in 2013, production dipped sharply to a low of 27.283 million Euros in 2014, followed by varied annual increases and decreases. Notably, there was a marked growth of 122.07% in 2018 and a moderate decline of 0.54% in 2023, standing at 101.06 million Euros by 2023. The compound annual growth rate (CAGR) over the last five years up to 2023 was marginally negative at -0.11%.
The forecast from 2024 to 2028 indicates a gradual decline with an average annual decrease of -0.46%, predicting a trend towards subdued production levels with a total reduction of -2.27% over five years.
Future Trends to Watch For:
- Potential industry shifts due to evolving consumer preferences towards natural or less processed foods.
- Impacts of regulatory changes and trade agreements post-Brexit on production costs and sales.
- Technological advancements in manufacturing processes that could drive efficiency and lower costs.
- Environmental sustainability efforts impacting packaging and production practices.