A preference for poultry batters industry revenue
London, United Kingdom (PRWEB) May 22, 2012
The Meat Processing industry has had its fair share of setbacks over the past five years. Industry revenue is expected to contract at an annualised 2.2% over the five years through 2012-13, to reach £4.32 billion.
According to IBISWorld industry analyst Kiera Outlaw, “a principle trend over the past 20 years has been the preference for poultry over red meat, with poultry consumption doubling and red meat consumption remaining fairly static”. The preference for cheaper meat has also been seen in the red meat market, as bacon and sausages have been the only two product segments to show increased consumption in the past five years. Beef has the most diversified product segments, as it is the most cost-effective, and consequently contributes the most to total revenue.
Outlaw adds, “disease has also hindered the industry over the past five years”. In 2007, the United Kingdom's livestock industries experienced an outbreak of foot and mouth disease, which caused a 4.2% decline in revenue over 2007-08. Despite the onset of the financial crisis, the industry bounced back the following year, but fell victim to the dark economic climate in 2009-10. As the value of the pound declined, demand in export markets increased. This trend is expected to continue as the pound remains weak over the short term. In 2012-13, export growth is expected to contribute to a 0.7% increase in industry revenue. Over the next five years to 2017-18, the UK economy is expected to slowly return to growth and this in turn will spur on industry revenue, which is forecast to return to positive growth over the period.
Market share concentration in the Meat Processing industry is low but should rise through closures and acquisitions as major players increasingly focus on achieving economies of scale and boosting profitability. Major companies include Vion Food Group, Cranswick, Hilton Food Group and Foyle Food Group.
For more information on the Meat Processing industry, including latest industry trends, statistics, analysis and market share information, purchase the full report from IBISWorld, the nation’s largest publisher of industry research.
IBISWorld industry Report Key Topics
The Meat Processing industry consists of businesses engaged in slaughtering livestock (except poultry). Participants produce fresh, chilled or frozen meat, as carcasses and cuts. Operations can include the boning, freezing, preserving and packing of meat or manufacturing meals. Additionally, participants supply by-products like rendered lard and tallow.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalisation & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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