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UK food and drink manufacturing market is on the rise, being worth 120 billion in total revenue as of 2021 indicating an increase from 110

UK food and drink manufacturing market is on the rise, being worth £120 billion in total revenue as of 2021 indicating an increase from £110 bn in 2020. In 2025 revenue for the sector is projected to reach £250bn.

 You and your team of consultants should consider the following points: 

i. Calculate the projected percentage market growth rate (revenue) between 2020 and 2021 and provide an estimate of the projected growth rate between 2021 and 2025.


ii.The market was estimated to be worth £125 bn in 2022, £170bn in 2023 and £190bn in 2024. Calculate the expected annual growth rate (CAGR (2021 - 2025) between 2021 and 2025.

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