In 2023, the UK's import of protein concentrates and textured protein substances stood at an estimated 37.5 million kilograms. The forecast for 2024 shows an increase to 38.184 million kilograms, marking a 1.82% year-on-year rise. Subsequent years continue this upward trend, with similar percentage increases culminating at 41.746 million kilograms in 2028. The compound annual growth rate (CAGR) over these five years is projected at 2.16%, indicating modest yet steady growth in demand.
Future trends to watch for:
- Health and wellness trends driving higher consumption of protein-rich diets.
- Potential trade policy changes affecting import volumes.
- Technological advancements in production and processing potentially impacting supply chains.
- Emerging consumer preferences for plant-based proteins.