In 2023, the UK cereal products industry recorded 161.75 million hours worked. Forecasts for 2024 to 2028 indicate a slight decline in hours worked, from 161.55 million in 2024 to 160.73 million in 2028. The year-on-year variation between 2024 and 2025 shows a decrease of 0.13%, and a similar trend continues throughout the forecast period. Over the five-year horizon, the compound annual growth rate (CAGR) suggests an average decrease of approximately 0.13% per year.
Future trends to monitor include:
- Technological advancements that could improve productivity and reduce labor hours.
- Changes in consumer demand that may impact production schedules.
- Potential shifts in international trade policies affecting cereal product exports.