The frozen bovine meat market in the UK has seen a notable upward trend from 2013 to 2023. The market volume increased from 73.024 million kilograms in 2013 to 88.229 million kilograms in 2023. A significant surge occurred in 2017, with a year-on-year increase of 26.46%. Post-2017, the market exhibited steady growth, with year-on-year variations between 0.73% and 1.61% from 2018 to 2023. Specifically, from 2022 to 2023, the volume increased by 1.5%.
Noteworthy periods in the trend include:
- 2013-2016: Initial decline in market volume.
- 2017: Sharp increase.
- Post-2017: Steady growth phase.
- 2023: Stood at 88.229 million kilograms.
Current projections indicate continued growth, with the market expected to reach 94.373 million kilograms by 2028. The forecasted 5-year CAGR from 2024 to 2028 is 1.06%, translating to an overall growth rate of 5.44% over this period.
Future trends to watch for include potential impacts of economic shifts on meat consumption patterns, technological advancements in freezing techniques, and consumer preferences for sustainable and ethically sourced meat products. Monitoring these trends will be crucial for strategic market positioning and anticipating market shifts.
