The UK's meat and poultry meat products production value experienced notable fluctuations over the past decade. From 2013 to 2015, the sector saw considerable growth, with a peak in 2015. However, this was followed by a sharp decline in 2016, from which the industry has struggled to fully recover. The production value has consistently hovered around the 6 billion Euro mark since 2017, with minor deviations.
Specifically, for 2023, the production value stood at 6.32 billion Euros, marking a marginal year-on-year decline of 0.35%. This slight downturn follows a similar trend from 2022 and indicates a phase of stabilization rather than robust growth. The CAGR for the past five years (2019-2023) shows a very modest increase at 0.25%, suggesting a plateau in market expansion.
Future trends to watch for include potential impacts from shifts in consumer preferences towards plant-based alternatives, regulatory changes post-Brexit, and the influence of global economic factors on production costs and pricing. Additionally, sustainability initiatives and animal welfare concerns are likely to influence production practices and market dynamics.
