PUBLISHER: Allied Market Research | PRODUCT CODE: 1641771
PUBLISHER: Allied Market Research | PRODUCT CODE: 1641771
UK Beef Market
The UK beef market was valued at $16.4 billion in 2022 and is projected to reach $24.2 billion by 2032, growing at a CAGR of 4% from 2023 to 2032.
Beef is a variety of red meat that is obtained from domesticated cattle. There are different types of beef depending on their quality grades, cuts, and preparation methods. The nutritional profile of beef includes protein, vitamin B, iron, zinc, and fat. Due to its rich dietary value, versatility, and flavor, beef is a staple in various traditional British dishes such as roast beef, beef Wellington, and cottage pie.
Increase in the number of fast-food outlets and quick-service restaurants has fueled the requirement for beef in the UK, thereby propelling the development of the market. In addition, as individuals have shifted toward a fast-paced lifestyle, surge in demand for ready-to-cook pre-packed kits and value-added beef products such as marinated cuts is augmenting the growth of the market. Furthermore, as the suppliers are focusing on sustainable practices to provide "grass-fed" labeled beef to consumers, the market growth is being driven significantly. An emerging trend gaining prominence in the UK beef market in recent times is the production of lab-grown beef. This is an innovative, sustainable, and ethical method of beef production, which is garnering traction from environmentally concerned and health-conscious consumers in the region.
However, exponential surge in the cost-of-living pressures among individuals in the UK has reduced the demand for beef in retail and takeaways, which is restraining the growth of the market. According to the Agriculture and Horticulture Development Board in the UK, total year-on-year beef volumes were low by 1% in 2023. Moreover, surge in the prevalence of cattle diseases such as foot-and-mouth disease and bovine spongiform encephalopathy has significantly impacted beef production, thereby hampering the market development. On the contrary, expansion in export deals and establishment of new trade agreements are anticipated to present lucrative opportunities for the UK beef market. The UK produces approximately 900,00 tons of beef every year, of which 148,000 tons are exported to other countries. The Agriculture and Horticulture Development Board predicts this volume to rise in the future, indicating a promising future for the market.
Segment Review
The UK beef market is segmented into distribution channel, product type, and cut type. On the basis of distribution channel, the market is divided into supermarket & hypermarket, retail store, wholesaler, e-commerce, and others. As per product type, it is classified into loin, chuck, round, brisket, rib, and others. Depending on cut type, it is categorized into ground beef, steaks, roasts, cubed, and others.
Key Findings
On the basis of distribution channel, the supermarket & hypermarket segment was the highest shareholder in 2023.
Depending on product type, the loin segment acquired a notable stake in the market in 2023.
As per cut type, the ground beef segment dominated the market in 2023.
Competition Analysis
The major players in the UK beef market include ABP Food Group, Dawn Meats Group, Tulip Ltd., Dunbia, Cargill, Oakham Meats, Scottish Beef, Meat and Livestock Australia (MLA), Dovecote Park Ltd., and Harrison & Hetherington. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
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