The sports goods production value in the UK experienced fluctuations from 2013 to 2023. The production value saw a notable increase from 2013 to 2017, reaching its peak in 2017. However, there were dips in 2018 and 2020 that interrupted this overall upward trend. From 2021 to 2023, the production value witnessed mild recovery, showing year-on-year increases of 0.87% in 2022 and 0.85% in 2023. The compounded annual growth rate (CAGR) over the last five years stood at 1.59% up to 2023.
Looking at the future, the forecasted production values from 2024 to 2028 are expected to show modest annual growth. The forecasted 5-year CAGR is 0.68%, with an overall growth rate of 3.44% by 2028. Future trends to watch for include potential impacts of technological advancements in production, changes in consumer preferences towards sustainable products, and the influence of global economic conditions of the industry.
