Based on the expert analysis and our database of 440+ UK industries, 麻豆社 presents a list of the Biggest Industries by Employment in the UK in 2024
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View a list of the Top 25 biggest industries by employmentEmployment number for 2024: 1,098,917
The traditional 'big four' supermarkets (Tesco, Sainsbury's, Asda and Morrisons) are under intense pressure from discounters like Aldi and Lidl, with their low prices and improving quality of products resonating with price-conscious shoppers. Sainsbury's and Asda sought to merge in 2018 to better position themselves against the threat of the discount chains. However, the CMA blocked their plans, stating that the merger could lead to higher prices and reduced choice and quality. The COVID-19 pandemic sparked initial stockpiling activity and paved the way for online delivery services to become essential to people's lives. According to the ONS, food store volume... Learn More
Employment number for 2024: 981,325
Industry revenue is expected to contract at a compound annual rate of 4.3% over the five years through 2023-24 to £51.2 billion. Industry growth has been constrained by falling funding from the EU because of Brexit. High-profile scandals have prevented major players from claiming government funding and reduced support from the public. In combination with public funding cuts, demand for social services has risen. Cuts to overseas aid budgets, announced in November 2020, are constraining revenue over the two years through 2023-24.
In 2020-21, falling disposable incomes and weak consumer confidence as a result of the COVID-19 pandemic lowered voluntary donations,... Learn More
Employment number for 2024: 903,588
A growing and ageing population has increased demand, but public healthcare budgets have failed to keep pace with this, which has aided demand for private hospitals as a greater number of patients seek private treatment. Over the five years through 2023-24, industry revenue is expected to rise at a compound annual rate of 1.8% to reach £118.2 billion.
The outbreak of COVID-19 necessitated the release of significant government funding to help hospitals boost their capacities to treat afflicted patients. NHS funding rose from £148.9 billion in 2019-20 to £191 billion in 2020-21, according to the King's Fund, as the government boosted... Learn More
Employment number for 2024: 735,822
Temporary-Employment Placement Agencies' revenue is forecast to decline at a compound annual rate of 3.4% to £41.4 billion over the five years through 2022-23. The COVID-19 outbreak meant key employers of temporary workers in the sports and music events spaces completely shut their doors and businesses froze hiring, reducing clients for agencies. Sign-ups for temporary employment declined, hitting revenue in 2020-21. Companies pressed play immediately on hiring as the economy reopened in 2021-22 with record vacancies particularly in the service sector, boosting revenue for recruiters.
A tight labour market is encouraging employers to rely on temporary-employment placement agencies to fight... Learn More
Employment number for 2024: 722,238
Business process outsourcing (BPO) companies provide services to clients in all sectors of the economy, with the financial services and public sectors being particularly important markets. IT adoption and government expenditure have increased throughout the period, incentivising businesses to invest more heavily in IT systems and upgrades, supporting demand for BPO services.
Industry revenue is forecast to fall at a compound annual rate of 2.5% over the five years through 2023-24 to £71.5 billion, including expected growth of 4.6% in 2023-24. Advances in cloud computing, mobile technology and big data have also created new opportunities for industry operators to add value... Learn More
Employment number for 2024: 616,303
The Direct Selling and Marketing industry markets itself through single-level marketing (SLM), where representatives earn money solely from commission; and multi-level marketing (MLM), where representatives earn commission from both their sales and those they have recruited. Despite widespread criticism and links to pyramid selling schemes, MLM accounts for the majority of revenue.
Industry revenue is expected to rise at a compound annual rate of 1.2% over the five years through 2023-24 to £2.6 billion, including an anticipated 2.3% drop in 2023-24. This growth is due to solid performance in 2019-20 and a rebound in revenue following the effects of the COVID-19... Learn More
Employment number for 2024: 582,430
Companies in the Construction Contractors industry are active across the building construction and civil engineering markets. Despite being remunerated for completing new building and infrastructure construction contracts or fulfilling maintenance, repair, renovation and remodelling contract obligations, the spectrum of services offered by civils and general building contractors in this industry is multifaceted. Some contractors focus on new dwellings construction, while civil engineering specialists afford clients services across the infrastructure value chain. Some contractors specialise in commercial building activity, while many independent contractors may focus on small-scale repair and maintenance contracts in local markets.
In the lead-up to the pandemic, the government's... Learn More
Employment number for 2024: 506,835
Disposable income levels determine spending on restaurants with Britons generally spending less on eating out during periods of rising inflation as everything gets more expensive. The pandemic and the cost-of-living crisis have threatened the performance of industry players. Industry revenue is falling at a compound annual rate of 2.3% over the five years through 2023-24 to approximately £23.3 billion, including growth of 2.3% in 2023-24.
When the pandemic was at its worst, stay-at-home and trading restrictions on the hospitality sector prevented participants from generating eat-in revenue with fresh produce going bad and operational costs becoming unmanageable, pushing many restaurants out of... Learn More
Employment number for 2024: 494,938
Over the five years through 2022-23, the Universities industry's revenue is expected to grow at a compound annual rate of 1.3% to £47 billion. This expansion can be attributed to an increase in student numbers, rising tuition fees and growing investment returns over much of the period. The increase in tuition fees to £9,250 in 2017-18 has been an important driver of revenue growth. However, with tuition fees frozen since 2012, record inflation throughout 2022 has meant their real value has plummeted. The cap on undergraduate student numbers in the UK was lifted in 2020-21, leading to a rise in... Learn More
Employment number for 2024: 460,115
Over the five years through 2022-23, revenue is projected to climb at a compound annual rate of 2.3%. This growth has primarily been driven by an enhanced demand for IT consulting services. In addition, regulatory changes in the financial services sector, the industry's largest downstream market, have benefitted the industry, as banks and other financial institutions have required assistance to reformulate business strategies and operations to comply with new policies.
Plunging business confidence following the COVID-19 outbreak reduced demand for consulting services in 2020-21, as downstream companies held back on expanding their operations in the immediate aftermath of the outbreak. In... Learn More
Based on the expert analysis and our database of 440+ UK industries, 麻豆社 presents a list of the Least Risky Industries in the UK in 2024
VIEW ARTICLEBased on the expert analysis and our database of 440+ UK industries, 麻豆社 presents a list of the Fastest Declining Industries in the UK by Revenue Growth (%) in 2024
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