Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Fastest Growing Industries by Imports in the UK in 2023
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View a list of the Top 25 fastest growing industries by importsGrowth in Imports for 2023: 163.0%
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 Imports for 2023: 73.4%
Over the five years through 2023-24, office and shop furniture manufacturing revenue is forecast to contract at a compound annual rate of 4% to £2.1 billion. Economic uncertainty caused by the Brexit vote encouraged businesses to manage spending budgets with greater caution, restricting sales of office and shop furniture. Similarly, commercial construction activity weakened, reducing the number of commercial premises needing to be furnished. These uncertainties were worsened by the COVID-19 pandemic, as businesses prioritised cashflow, causing spending to be reduced and investments or projects to be postponed or even cancelled.
During 2023-24, revenue is forecast to grow by 4.1%. Business... Learn More
Growth in Imports for 2023: 64.4%
Health concerns have supported demand for poultry production, highlighting the status of poultry products as staples. Despite revenue growth, profit has remained low and decreased since 2017, mainly because of intense price competition, exacerbated by supermarket buying power and rising operating costs. Also, increased animal feed costs have restricted operating profit since 2017-18 relative to foreign producers. Consequently, despite revenue growth, some farmers have stopped operations and a degree of consolidation has occurred. Poultry producers have increased investment in automation following concerns over labour shortages after Brexit.
Chicken is the most lucrative product offering and the Poultry Raising industry's key markets... Learn More
Growth in Imports for 2023: 61.6%
The Sanitary Product Manufacturing industry is challenged by companies restructuring their operations and moving production overseas to take advantage of lower production costs. Stronger brands face competition from low-cost alternatives and higher input costs, putting pressure on prices and squeezing profitability. Despite a temporary surge in sales toilet paper, tissues and other personal-care items when COVID-19 hit (UK consumers stockpiled goods as they feared shortages), revenue dipped in 2020-21, with lockdown measures cutting into demand from businesses. Industry revenue will fall at a compound annual rate of 1.6% over the five years through 2022-23 to £2.7 billion, including a 3.5%... Learn More
Growth in Imports for 2023: 60.1%
Coffee is one of the world's most popular drinks and one of the most traded commodities, second only to oil. According to the British Coffee Association, Britons consumed approximately 98 million cups of coffee daily in 2021, up from 70 million in 2008. However, this is significantly less than in other European nations. Finland, for instance, ground its way through 14.7 kilograms of coffee per capita in 2019, compared with 3.4 kilograms in the UK, according to the International Coffee Organization. This indicates that there is substantial room for growth in the British market.
Volatility in the world price of coffee... Learn More
Growth in Imports for 2023: 59.7%
Revenue is forecast to contract at a compound annual rate of 2% over the five years through 2023-24 to £3.3 billion. Weak economic conditions since the Brexit vote have plagued the industry's performance as businesses reduced spending budgets amid uncertain economic conditions. However, strong demand from construction industries prior to the pandemic alongside the replacement of ageing energy infrastructure supported revenue, limiting the overall decline. Despite the pound's depreciation, competition from imported products has remained strong, weighing on the market share of domestic firms.
The pandemic decimated demand from key downstream industries, especially customers in the industrial and construction sectors. Despite... Learn More
Growth in Imports for 2023: 57.9%
Sales of wooden containers move in line with manufacturing activity, wholesaling activity, UK export levels and demand for the transportation and storage of goods. Industry revenue is anticipated to rise at a compound annual rate of 6.6% over the five years through 2022-23 to £1.2 billion. This growth can be attributed to a surge in wooden container prices in recent years because of swelling timber prices – manufacturers have upped the amount they charge to cover higher input costs, accelerating revenue expansion. Revenue is set to increase by 1.8% in 2022-23. Despite strong recent growth, moderate import competition and strong... Learn More
Growth in Imports for 2023: 56.3%
Revenue prospects for the lifting and handling manufacturing industry largely depend on the performance of downstream manufacturing, construction and freight-handling industries and their business expenditure levels. Following the EU referendum, business confidence dipped, weighing on domestic market prospects, as downstream companies restricted their capital spending. However, construction activity has been resilient, with overall growth in the total value of construction supporting industry revenue. Exports have grown, spurred by a weak pound making UK-manufactured products more competitive in overseas markets. However, import competition has remained intense thanks to cost advantages held by manufacturing excellence like Germany, driving down prices.
Over the five... Learn More
Growth in Imports for 2023: 54.3%
The Animal Feed Production industry is an essential producer of feed for farm animals, including concentrated animal feed, feed supplements and unmixed feeds. Animal feed comes in various forms, from raw grains to compound animal feed that offers particular nutritional benefits to maintain the animal's health and enhance the quality of the end product. Cereals account for approximately half of the production inputs, while oil cake accounts for nearly one-quarter. A combination of minerals, protein concentrates and other food production by-products accounts for the remaining share.
Over the five years through 2023-24, the animal feed production industry is expected to creep... Learn More
Growth in Imports for 2023: 52.9%
Hollow glass is used to bottle, store and pack food and beverages sold by downstream retailers and hospitality establishments. This industry also caters to the packing need of cosmetics, perfume and pharmaceutical markets, with other applications included the production of stemware and tableware. Demand for hollow glass products is ultimately determined by levels of private consumption, which is dictated by factors like consumer confidence and disposable income.
Revenue is set to increase at a compound annual rate of 2.2% to reach £1.2 billion over the five years through 2022-23. Operators have capitalised on the war on plastic by offering an alternative... 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 2023
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 2023
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