The meat products production value in the UK showed significant fluctuations from 2013 to 2023. Starting at 19.53 billion euros in 2013, it peaked at 24.57 billion euros in 2015, followed by a notable drop to 22.17 billion euros in 2016. From 2017 to 2023, values hovered around the 22-24 billion euros mark, with a slight upward trend in recent years. In 2023, the value stood at 23.63 billion euros—a modest increase compared to previous years.
Year-on-year variations highlight periods of both substantial growth and decline. Remarkably, the highest growth rate occurred in 2015 (+20.28%), followed by decreases in 2016 (-9.77%) and 2020 (-3.71%). The Compound Annual Growth Rate (CAGR) oscillated, with notable yearly averages: 3.77% in 2013, peaking at 7.88% in 2015, and fluctuating to -2.53% in 2020. Recent years have seen steadier, albeit modest, growth, leading to a 1.62% CAGR in 2023. From 2023 to 2028, the forecast projects a stable growth trend, with a five-year CAGR of 0.97%, resulting in an overall growth rate of 4.93% by 2028.
Future trends to watch for include:
- Consumer preference shifts towards alternative proteins.
- The impact of trade policies post-Brexit on meat production and imports.
- Technological advancements and sustainability initiatives in meat production.
- Economic factors, including inflation and currency fluctuations affecting cost and pricing.
