Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Fastest Growing Industries by Exports in the UK in 2024
Want to see more fastest growing industries by exports?
View a list of the Top 25 fastest growing industries by exportsGrowth in Exports for 2024: 30.4%
Per-capita alcohol consumption, income, price, health consciousness and consumer preferences drive non-alcoholic beer producers' performance. Over the five years through 2022-23, revenue is set to grow at a compound annual rate of 30% to £807.6 million, including growth of 34.2% in 2022-23, with the average industry profit margin hitting 19.7%.
Shrinking alcohol consumption per capita alongside growing health consciousness is paving the way for industry growth. Popular craft beer producers are rapidly introducing no-alcohol and sustainable beer varieties, driving growth in the non-alcoholic beer industry. During the COVID-19 pandemic, many consumers stuck at home cut out booze, dabbing into non-alcoholic beer... Learn More
Growth in Exports for 2024: 28.5%
The Footwear Manufacturing industry's revenue is expected to contract at a compound annual rate of 1.3% to £616.3 million over the five years through 2023-24. Before the COVID-19 outbreak, expansion had been facilitated by various government policies targeting innovation within the broader textiles manufacturing sector and growing interest in high-quality British footwear. British independent cobblers have aimed to capitalise on heritage brands and expand their presence abroad.
The COVID-19 outbreak shook the industry in 2020-21. Footwear sales fell, as many retail stores and factories closed during nationwide lockdowns and social distancing measures limited footfall and output even when shops reopened. Revenue... Learn More
Growth in Exports for 2024: 25.5%
The range of products churned out by kitchen furniture manufacturers is fairly wide, covering flat-packs or bespoke kitchens, upholstered and un-upholstered chairs, among other things. Industry revenue is forecast to grow at a compound annual rate of 1.2% over the five years through 2022-23 to reach £2.8 billion. Growing residential construction activity propped up kitchen furniture sales prior to the COVID-19 pandemic, but then housebuilding activity came to a temporary standstill. Kitchen renovation were also halted, with builders unable to enter people's homes to carry out work – these factors ate into kitchen furniture sales in 2020-21. Alongside this, after... Learn More
Growth in Exports for 2024: 24.6%
The Juice Production industry revenue is expected to have shrunk at a compound annual rate of 2.7% over the five years through 2023-24 to £517 million, including a contraction of 2.9% in the current year. The industry has been dealt blow after blow to their supply chains – COVID-19 and related lockdowns restricted international trade for over a year and poor harvests, combined with the Russia-Ukraine war, have led to prices of imported fruit skyrocketing since 2020. Furthermore, criticisms over fruit juice and smoothie sugar contents have also damaged the industry's reputation for having healthy products.
Shocks to inputs are the... Learn More
Growth in Exports for 2024: 15.7%
The Radiator and Boiler Manufacturing industry' revenue is forecast to decline at a compound annual rate of 1.8% over the five years through 2023-24 to £1.6 billion. This includes expected growth of 0.7% in 2023-24. Boiler producers have been insulated from volatility in construction markets by the introduction of government subsidies and schemes encouraging appliance replacement, which bolstered industry sales. Tightening environmental regulations and rising energy prices boosted the appeal of these schemes to consumers, driving up sales. However, import competition is high, with construction companies favouring imported brands.
Residential and commercial activity tanked in 2020-21 because of the COVID-19 outbreak.... Learn More
Growth in Exports for 2024: 15.3%
In recent years, demand has been supported by policies intended to boost housing construction. Continued policy support, like the extension of the Help to Buy scheme through March 2023, has continued to boost demand from the residential construction market. Building plaster product manufacturers have also benefited from the shift towards lightweight dry construction methods, aiding revenue growth. Demand for innovative building plastering products that are more insulating, sustainable, fire-resistant or lightweight has been particularly strong, which has benefited the industry.
The building plaster product manufacturing industry's performance tends to align with conditions in the construction sector. Industry revenue is expected to... Learn More
Growth in Exports for 2024: 14.3%
The Potato Crisps and Snacks Production industry has grown in popularity since 2017-18, with potato product makers adapting to new consumer tastes. Premium crisps have been growing in popularity - brands like Kettle Foods and Tyrrells have benefitted most from this, resulting in KP Snacks acquiring Tyrrells in 2018. However, potato product makers have also come under growing competition from healthier snack alternatives, as many potato products are rich in salt and saturated fats. Over the five years through 2023-24, industry revenue is forecast to fall at a compound annual rate of 0.5% to reach £2.6 billion.
Volatile weather conditions and... Learn More
Growth in Exports for 2024: 13.6%
Pasta product manufacturing revenue is expected to rise at a compound annual rate of 3.5% over the five years through 2022-23 to reach £130.8 million. Industry growth has largely come from new product development and heightening demand for fresh pasta. The perceived superiority of Italian-made pasta and the fact that many Italian producers have firmly cemented themselves in the market limits sales for UK pasta product manufacturers, especially in the dried pasta market.
Although some manufacturers have adapted to changing consumer tastes for alternative flours, this shift has been fairly slow. Local manufacturers are being forced to compete with Italian producers... Learn More
Growth in Exports for 2024: 13.5%
The Bread and Bakery Goods Production industry proves susceptible to changes in consumer tastes and incomes, as well as global events. Over the five years through 2023-24, revenue is set to shrink at a compound annual rate of 1%; this has mostly been as a result of the COVID-19 pandemic slowing down demand, the war in Ukraine hitting wheat supplies and the cost-of-living crisis denting sales. As incomes fall, people cut back on their spending on luxuries, including many bakery goods such as pastries and cakes. The long-term effects of COVID-19 – like the shift to working from home –... Learn More
Growth in Exports for 2024: 13.4%
Industry revenue is expected to grow at a compound annual rate of 1% over the five years through 2022-23 to £1.2 billion. The price of inputs have a major influence on the performance of oil producers, as well as demand conditions. Falling input prices over the three years through 2019-20 had a knock-on effect on industry revenue, which declined over the three years through 2020-21. However, rising prices since the COVID-19 outbreak in March 2020 is has caused rapid growth, including 6.4% in the 2022-23.
Rising health consciousness has caused a shift in the market. Rapeseed oil has grown in popularity... Learn More
Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Biggest Industries by Employment in the UK in 2024
VIEW ARTICLEBased on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Biggest Industries By Revenue in the UK in 2024
VIEW ARTICLEDownload a free sample report today to discover the breadth and depth of information available at your fingertips!
GET SAMPLE REPORT