The forecasted data for sold production of dairy products and cheese in the UK shows a consistent upward trend from 2024 to 2028, growing from 9.088 billion Euros in 2024 to 9.5006 billion Euros in 2028. This represents a steady year-on-year growth in production value. In 2023, the actual value stood at 8.990 billion Euros. The year-on-year growth rates are as follows:
- 2024: 1.09%
- 2025: 1.17%
- 2026: 1.13%
- 2027: 1.1%
- 2028: 1.07%
Over the last two years (2022-2023), the variations in the production value have shown a noticeable increase, maintaining the positive trend evident in the forecasted projections.
The compound annual growth rate (CAGR) over the five-year period from 2023 to 2028 is approximately 1.13%, indicating a stable and modest increase in production value annually.
Future trends to watch for include the impact of changing consumer preferences, regulatory changes, and potential advancements in dairy production technologies. Any significant economic factors or shifts in trade policies could also influence these forecasts.