In 2023, the plastic packaging goods sector in the UK accounted for 46.6 million hours worked. From 2024 to 2028, forecasts indicate a gradual year-on-year decline in hours worked, from 46.553 to 46.234 million hours. This reflects a consistent reduction in labor input, signifying a slight contraction trend of approximately 0.14% annually. The five-year compound annual growth rate (CAGR) suggests minimal variation, emphasizing stability with marginal contraction.
Future trends to watch for include:
- Technological advancements reducing the need for manual labor.
- Shifting industry dynamics, possibly due to sustainability and regulatory changes.
- Potential impacts of geopolitical factors on labor resources.
