Forecast: Number of Employees in Bakery Products Sector in the UK

Based on the data provided, the number of employees in the UK bakery products sector stood at 88.14 thousand in 2023. The sector witnessed a gradual decline from 98.33 thousand employees in 2013. Over the last two years, the sector has seen slight negative variations with a year-on-year decrease of approximately 0.75% from 2022 to 2023.

In terms of longer-term trends, the Compound Annual Growth Rate (CAGR) from 2018 to 2023 indicated a contraction of about 0.64% annually. For the forecast period up to 2028, this trend is expected to continue with a forecast 5-year CAGR declining by 0.64% annually, projecting an overall reduction in workforce by around 3.16% during this period.

Future Trends to Watch For:

- Automation and technological advancements may further reduce the demand for labor.

- Potential changes in consumer preferences, including a shift towards healthier options, could impact employment needs.

- Regulatory changes and economic factors such as inflation, Brexit, and supply chain disruptions might influence the sector's labor dynamics.