The import of flavored or colored refined sugar in solid form to the UK is forecasted to decline steadily from 1.389 million kilograms in 2024 to 0.952 million kilograms in 2028. In 2023, the import volume stood at 1.512 million kilograms, indicating a downward trajectory moving forward. Year-on-year declines are significant, with a projected Compound Annual Growth Rate (CAGR) of around -8.06% for the period from 2024 to 2028. This trend suggests a consistent drop in import volumes driven by factors such as changes in consumer preferences, increased domestic production, or potential trade barriers.
Future trends to watch for include:
- Potential changes in trade policies post-Brexit and their impact on sugar imports.
- Shifts in consumer demand towards healthier alternatives reducing flavored sugar imports.
- Technological advancements or innovations in the sugar industry that could alter supply chains.
- Economic factors like currency fluctuations that could affect import costs and volumes.
