This Key Note Market Update examines the UK market for meat and meat products. This market continues to exhibit year-on-year growth with the value of total sales increasing by 2.6% in 2014.
This Key Note Market Update examines the UK market for meat and meat products. This market continues to exhibit year-on-year growth with the value of total sales increasing by 2.6% in 2014. Growth was spread across all four market sectors in 2014 but some categories have consistently outperformed others over the 5-year review period.
With the exception of the other meat and meat products sector the carcass meat sector remains the largest in this market. Yet value growth in this timeframe has largely been driven by rising retail prices of beef lamb and pork rather than increasing volume sales. The poultry sector is the next largest in this market having experienced increased demand in recent decades; the bacon and ham sector is the smallest in this market owing to its relative lack of versatility. Finally the other meat and meat products sector — which is technically the largest owing to the fact that it contains a huge range of products — exhibited healthy growth in 2014 as the demand for convenience remained penetrative.
However such consistent growth across all sectors is not indicative of increased consumption. In the majority of instances per capita consumption continued to exhibit a downwards trend in 2014. Despite the onset of a gradual economic recovery consumer spending power remains low; when combined with dramatic price inflation as a result of increased global demand meat is now widely perceived to be a relative luxury. Subdued volume sales have been compounded by health...