The UK meat and meat products market was valued at 12.44bn in 2002 at current prices but future market trends look uncertain.

The UK meat and meat products market was valued at 12.44bn in 2002 at current prices. An annual value growth of 2.4% was recorded in 2002 following a decline in 2001 but only limited growth in the meat market can be expected over the next 5 years.

(PRWEB) September 5, 2003 -- Research and Markets have announced the addition of the "Meat & Meat Products Market Report 2003" report to their offering.

The UK meat and meat products market was valued at 12.44bn in 2002 at current prices. An annual value growth of 2.4% was recorded in 2002 following a decline in 2001. 2001 was a troubled year for the UK meat industry, with the foot and mouth epidemic having a significant impact on supplies and demand for some meats, while falling meat prices during the year did little to help sales. The meat market began to recover in 2002, although volume consumption of meat and meat products remains relatively static. The convenience meat products and added-value meat products sectors have been the strongest growth areas.

The retail meat market separates into four core sectors: carcass meats, including beef, lamb and pork; poultry; bacon and ham; and other meat and meat products, including a diversity of products such as sausages, pies and savoury products, cooked meats, tinned meats, ready meals, and frozen meat and poultry products. The other meat and meat products sector is the largest, accounting for 38% of sales in 2002.

The strongest market subsectors in 2002 were bacon (increased promotional activity stimulated consumer interest), poultry (which continues to benefit from the switch from red meat and the wide choice of poultry-based convenience foods), and cooked meats. Sausages are also experiencing a revival, with more gourmet varieties.

Livestock numbers are in long-term decline and price pressures from the multiple grocery retailers are impacting on farmers and processors. Many of the larger companies in meat processing have responded to changing market conditions by switching from the production of commodity meats to more value-added products. Meat imports are also taking a larger share of the domestic market, and are particularly significant in the pork and bacon subsectors.

The modest recovery in retail sales of meat registered in 2002 should continue at the same level in 2003 but carcass meat sales will struggle to maintain market share as value-added and convenience meat products become more popular. Only limited growth in the meat market can be expected over the next 5 years.

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REPORT DATA SUMMARY:
Meat & Meat Products Market Report 2003
Category: Food
URL: www.researchandmarkets.com/reports/35165

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