From 2013 to 2023, the UK bread market demonstrated considerable variability. There was a significant surge in 2013 with a 13.04% year-on-year increase. Between 2014 and 2016, the market saw modest fluctuations and a slight overall decline. 2017 was notable for its 10.05% growth, followed by a drastic 13.32% drop in 2018. Subsequent years depicted a downward trajectory with minor recoveries in 2019 and 2020. By 2023, the market volume stood at 2.6292 billion kilograms, reflecting a steady decline, with a CAGR of -0.49% over the past five years.
Looking ahead to 2028, the forecasted 5-year CAGR stands at -0.26%, suggesting continued decline. Key future trends to watch for include potential innovations in healthier bread alternatives, shifts in consumer dietary preferences towards low-carb diets, and the impact of economic factors on consumer spending.
