The UK meat market has seen a consistent upward trend in volume from 2013 to 2023, reaching 3.4643 billion kilograms in 2023. Notable fluctuations include a dip in 2015 and 2019, but the market has generally demonstrated growth. The year-on-year variations show modest gains over the past two years: 1.61% in 2022 and 1.55% in 2023. The compounded annual growth rate (CAGR) for the last five years stands at 1.19%. Looking forward, the market is expected to sustain growth, with a forecasted CAGR of 1.1% over the next five years, resulting in an estimated 5.6% growth by 2028.
Future trends to watch for include:
- Increased consumer demand for alternative protein sources, potentially impacting meat consumption volumes. - The influence of evolving health trends and environmental concerns on meat consumption. - The role of innovations in meat production and supply chain efficiencies in meeting the market's growth.
