Industries with the Biggest Decline in Imports in the UK in 2023

1. Bottled Water Production in the UK

Decline in Imports for 2023: -45.0%

The Bottled Water Production industry has thrived, owing to growing health consciousness; consumers' healthy hydration habits have supported demand for bottled water at the expense of soft drinks. Through extensive marketing campaigns, operators have successfully broadcasted the health benefits of bottled water, convincing shoppers to pay for industry products rather than choose tap water. Long-term partnerships with sporting events and health organisations have been a key driver of growth over the past five years.

However, over the five years through 2022-23, industry revenue is expected to moderately contract at a compound annual rate of 0.6%, including revenue growth of 1.4% in... Learn More

2. Chemical & Fertiliser Mineral Mining in the UK

Decline in Imports for 2023: -26.8%

The Chemical and Fertiliser Mineral Mining industry has been subject to volatile conditions over the past five years. The industry transitioned to the production of polyhalite, which led to a substantial reduction in potash prices and significant revenue decline for much of the past five years. However, production of polyhalite in 2018 has given the industry a new lease of life. Cleveland Potash Ltd, the largest firm in the industry, has transitioned into a polyhalite-only mining business. Industry players were able to continue production despite the COVID-19 (coronavirus) outbreak, with firms implementing social distancing measures and other safety measures to... Learn More

3. Veneer Sheet & Wood-Based Panel Manufacturing in the UK

Decline in Imports for 2023: -21.2%

Before the pandemic, veneer panelling sales were on the rise owing to robust demand. Government incentives have helped maintain consistently high sales to residential building contractors, while increases in furniture manufacturing activity have supported sales of wood panels. A dip in timber prices in 2019-20 forced manufacturers to lower selling prices, causing a slump in sales. Revenue was curbed further following the COVID-19 outbreak, which disrupted construction and manufacturing activity following lockdown measures imposed in the UK. Many manufacturers temporarily closed their production facilities during the pandemic, contributing to revenue decline in 2020-21.

Revenue is forecast to grow at a compound... Learn More

4. Fertiliser & Nitrogen Compound Manufacturing in the UK

Decline in Imports for 2023: -20.5%

Over the five years through 2022-23, the Fertiliser and Nitrogen Compound Manufacturing industry's revenue is set to swell at a compound annual rate of 10.6% to £2.7 billion. The Russian invasion of Ukraine has inflated natural gas prices, a key feedstock in fertiliser production, significantly disrupting operations. High fertiliser prices have forced farmers to adapt by increasing their spreading efficiency, reducing the amount of fertiliser farmers need. Even though output has been slashed, high fertiliser prices have still boosted industry revenue.

Despite soaring natural gas prices eating into profit, manufacturers have begun optimising output to reduce costs, meet lower demand and... Learn More

5. Yoghurt & Other Dairy Product Processing in the UK

Decline in Imports for 2023: -18.3%

Changing consumer tastes and volatile ingredient prices have caused turbulence for dairy processors in recent years. Industry revenue is expected to dip at a compound annual rate of 0.5% over the five years through 2022-23 to £942.7 million. Price changes have also caused profitability to be volatile as cost pressures from supermarkets have limited dairy processors' ability to hike prices. Following the COVID-19 outbreak, demand from supermarkets partially offset a fall in demand from food service operators, but sales still dropped down in 2020-21. However, since then, the industry's on track for two consecutive years of growth, including an expected... Learn More

6. Flat Glass Manufacturing in the UK

Decline in Imports for 2023: -15.3%

Flat glass is integral to the construction of buildings and vehicles and is also an important input for some appliances and furnishings. The manufacture of flat glass in the UK is dominated by three global companies: Pilkington, Saint-Gobain Glass and Guardian Industries. The financial power of these companies and the substantial investment required to set up flat glass manufacturing operations make it difficult for new manufacturers to enter the industry. The volume of glass produced domestically has declined, as multinational owners of UK flat glass producers have shifted more operations overseas.

Revenue is expected to decline at a compound annual rate... Learn More

7. Salt Extraction in the UK

Decline in Imports for 2023: -8.8%

Over the five years through 2022-23, revenue is forecast to expand at a compound annual rate of 0.5%. With rock salt used for de-icing roads making up 70.2% of the industry's revenue, winter conditions play a key role. Slowly increasing annual temperatures and disruptions caused by the COVID-19 outbreak have caused a fall in industry revenue as less rock salt is needed. However, the severe cold wave that hit the UK in 2018 and harsh winter storms in the US and Canada in 2021-22 meant that salt sales grew marginally, benefiting revenue growth.

In 2022-23, revenue is expected to weaken by... Learn More

8. Precious Metals Production in the UK

Decline in Imports for 2023: -6.8%

Industry operators recycle gold, silver and platinum group metals from many materials. Sales of platinum group metals are heavily influenced by the performance of the automotive sector, as the commodity is a crucial input in the manufacture of catalytic converters. Platinum is more prevalent in diesel vehicles and palladium in petrol vehicles, although all catalysts contain a proportion of platinum, palladium and rhodium. Gold and silver are both used to make jewellery and have a variety of industrial uses. Furthermore, they are also popular with investors, who consider them a safe investment for their wealth, causing gold and silver prices... Learn More

9. Hard Coal Mining in the UK

Decline in Imports for 2023: -5.0%

Over the five years through 2022-23, hard coal mining revenue is forecast to fall at a compound annual rate of 26.2%. Before COVID-19 hit, coal prices were inching downwards as demand for coal from electricity generators fell. The drop in sales and revenue has contributed to a sharp drop in the number of UK coal mines in the UK, with numerous mining licences expiring.

The COVID-19 outbreak accelerated the closure of coal mines in the UK; however, as the pandemic started to wind down, coal prices rose in response to supply chain disruptions. Russia's invasion of Ukraine has also played a... Learn More

10. Sugar Production in the UK

Decline in Imports for 2023: -4.8%

The industry is an oligopoly, dominated by two producers: British Sugar and T&L Sugars. The former is a beet refiner, processing all sugar beet grown in the UK. Since Tate & Lyle sold its UK sugar refineries to the ASR Group in 2010, the latter's subsidiary, T&L Sugars, has been the only other dominant producer.

Over the five years through 2022-23, revenue is expected to rise at a compound annual rate of 1.5% to £941.8 million. Volatile world sugar prices have shaped the industry's performance. In anticipation of the abolition of EU quotas in September 2017, sugar manufacturers made significant capital... Learn More