Between 2013 and 2023, the UK dairy products market saw fluctuations in volume with notable trends. From 2013 to 2016, the market experienced a consistent decline, culminating in a 3.99% decrease in 2016. A significant recovery occurred in 2017 with a 9.11% increase, followed by another upswing in 2018. However, the market dropped again in 2019 with a 7.72% decrease. The uptrend resumed from 2020 onwards, achieving 9.1245 billion kilograms in 2023. The most recent CAGR over the last five years (2018-2023) stood at approximately -1.23%, indicating a slightly downward trend.
Forecasts from 2024 to 2028 predict minimal growth with a 5-year CAGR of 0.02% and an overall growth rate of 0.09%, suggesting market stabilization. For example, the predicted volume for 2028 is 9.1346 billion kilograms.
Future trends to watch for include:
- Potential impacts of sustainability practices and environmental regulations on production methods.
- Consumer preferences shifting towards plant-based and alternative dairy products.
- Technological advancements in dairy production and distribution.
- The potential impact of economic factors such as inflation and global trade policies on the dairy sector.
