Agriculture - United Kingdom

  • United Kingdom
  • Gross production value in Agriculture market is projected to amount to C$53.49bn in 2024. An annual growth rate of 2.17% is expected (CAGR 2024-2028), resulting in gross production value of C$58.29bn in 2028.
  • The import value in Agriculture market is projected to amount to C$38.5bn in 2024. An annual growth rate of 4.66% is expected (CAGR 2024–2028).
  • The export value in Agriculture market is projected to amount to C$7.7bn in 2024. An annual growth rate of 3.08% is expected (CAGR 2024–2028).

Key regions: United States, Brazil, Germany, Italy, Spain

 
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Analyst Opinion

The Agriculture market in United Kingdom has experienced significant changes in recent years.

Customer preferences:
Consumers in the United Kingdom are becoming more health-conscious and are seeking organic and locally grown produce. This has led to an increase in demand for organic and sustainable farming practices. Additionally, there is a growing preference for plant-based diets, which has led to an increase in demand for crops such as soybeans and pulses.

Trends in the market:
The Agriculture market in the United Kingdom has seen a shift towards larger, more efficient farms. This is due to increased competition and the need to reduce costs. As a result, there has been a consolidation of farms and an increase in the use of technology to improve efficiency. Additionally, there has been a trend towards diversification, with many farms expanding into non-agricultural activities such as tourism.

Local special circumstances:
The United Kingdom's decision to leave the European Union has had a significant impact on the Agriculture market. The loss of subsidies and access to the EU market has led to uncertainty and a need for farmers to adapt to new trade agreements. Additionally, the COVID-19 pandemic has disrupted supply chains and led to a shortage of seasonal workers, which has impacted the harvesting of crops.

Underlying macroeconomic factors:
The Agriculture market in the United Kingdom is influenced by a range of macroeconomic factors, including changes in global commodity prices, currency fluctuations, and government policy. The UK government has set ambitious targets to reduce greenhouse gas emissions and improve sustainability, which has led to increased investment in renewable energy and sustainable farming practices. Additionally, the Agriculture market is impacted by changes in consumer preferences and global food trends.

Methodology

Data coverage:

The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

Overview

  • Revenue
  • Trade
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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