Fastest Growing Industries by Exports in the UK in 2023

1. Seafood Processing in the UK

Growth in Exports for 2023: 58.4%

The Seafood Processing industry's revenue is forecast to decrease at a compound annual rate of 0.5% over the five years through 2022-23 to £3.5 billion. The COVID-19 pandemic hampered revenue growth, while a rise in exports and increased selling prices acted as a counterbalance. Domestic demand conditions have been bleak, as the rising cost-of-living increased inflationary pressures and higher selling prices made seafood products less affordable. Despite this, increasing awareness of the health benefits of consuming seafood pushed back against severe market pressures. Fish catch volumes have declined because of rising costs for fishermen and quotas that constrained the supply... Learn More

2. Chemical & Fertiliser Mineral Mining in the UK

Growth in Exports for 2023: 47.3%

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. Petroleum Refining in the UK

Growth in Exports for 2023: 45.0%

Operators in the Petroleum Refining industry use a refining process to manufacture petrol and petroleum-based products such as Vaseline, petroleum jelly, paraffin wax and white spirit. Most refineries are geared towards petrol production and have been negatively affected by declining demand for petrol, as this led to oversupply. Some industry operators have closed refineries over the past five years, while others have aimed to find new markets for their excess petrol. A number of operators have altered their production to focus on diesel as the new primary fuel. Diesel is more fuel efficient than petrol and until recently was considered... Learn More

4. Fruit Growing in the UK

Growth in Exports for 2023: 44.3%

The UK Fruit Growing industry consists of approximately 6,250 establishments and has produced roughly 700,000 tonnes of fruit per year over the past five years. Domestic production contributed 14.9% of the total UK supply of fruit by value in 2021. Increases in the supply capabilities of domestic growers are limited to certain fruits, as the climate is unsuitable for tropical fruits like bananas and oranges. Soft fruits such as strawberries and raspberries are the most commonly grown in the industry. Orchard fruits, pears, plums and apples, including those used for heating, cooking and cider production, are also widely grown.

Revenue growth... Learn More

5. Sanitary Product Manufacturing in the UK

Growth in Exports for 2023: 44.0%

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

6. Game & Toy Manufacturing in the UK

Growth in Exports for 2023: 33.0%

The Toy and Game Manufacturing industry has been resilient in recent years amid rising import penetration and changing consumer tastes. Depreciations in the pound increased the price competitiveness of UK products in overseas markets over the two years through 2019-20, aiding strong export revenue. Successful product developments aimed at maintaining demand from children aged 10 and under have supported domestic demand. Nevertheless, the effect of increased domestic demand has been mitigated by intense competition from imports, despite the weak pound. Industry revenue is expected to increase at a compound annual rate of 2.1% over the five years through 2022-23 to... Learn More

7. Other Non-Ferrous Metal Production in the UK

Growth in Exports for 2023: 27.4%

Over the five-year period through 2022-23, the Other Non-Ferrous Metal Production industry's revenue is expected to contract at a compound annual rate of 1.4%. However, this masks a high level of revenue volatility. Fluctuations in nickel and titanium prices, as well as the effects of the COVID-19 (coronavirus) pandemic on key downstream markets, have induced a high level of revenue volatility in the industry over the period. The production of nickel and titanium is expected to account for 78.5% of industry revenue in 2022-23.

Growing demand for steel prior to the coronavirus pandemic supported demand for non-ferrous metals, as they are... Learn More

8. Precious Metals Production in the UK

Growth in Exports for 2023: 27.3%

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. Wooden Container Manufacturing in the UK

Growth in Exports for 2023: 25.9%

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

10. Yoghurt & Other Dairy Product Processing in the UK

Growth in Exports for 2023: 25.7%

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