The production in the UK's meat processing sector saw a consistent upward trend with some minor fluctuations over the past decade. In 2023, the sector was valued at 21.32 billion pounds sterling. The year-on-year growth for 2023 was 1.74%, showing stability compared to the previous years with a consistent year-on-year increase. The Compound Annual Growth Rate (CAGR) over the past five years stood at 2.02%, indicating steady growth.
Forecasts from 2024 to 2028 project a moderate growth rate, with the sector expected to reach a value of 23.04 billion pounds sterling by 2028. The forecasted 5-year CAGR is 1.23%, suggesting a slower but continuous growth trajectory.
Future trends to watch include potential impacts of economic policies, trade agreements, and evolving consumer preferences towards alternative proteins which might influence production growth in the sector.
