United Kingdom: Preserved Beef Market 2024

Preserved Beef Market Size in the UK

In 2021, the UK preserved beef market increased by 81% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Preserved Beef Production in the UK

In value terms, preserved beef production stood at $X in 2021 estimated in export price. Over the period under review, production showed a slight descent. The most prominent rate of growth was recorded in 2013 when the production volume increased by 107%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Preserved Beef Exports

Exports from the UK

After three years of growth, shipments abroad of beef and veal (salted, in brine, dried or smoked) decreased by -89.2% to X tons in 2021. In general, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 139% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then fell significantly in the following year.

In value terms, preserved beef exports dropped notably to $X in 2021. Over the period under review, exports saw a dramatic decrease. The growth pace was the most rapid in 2018 when exports increased by 54% against the previous year. The exports peaked at $X in 2020, and then fell rapidly in the following year.

Exports by Country

Canada (X tons) was the main destination for preserved beef exports from the UK, accounting for a 80% share of total exports. Moreover, preserved beef exports to Canada exceeded the volume sent to the second major destination, Cyprus (X tons), fivefold. Falkland Islands (Malvinas) (X kg) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+148.4% per year) and Falkland Islands (Malvinas) (+776.2% per year).

In value terms, Canada ($X), Cyprus ($X) and Falkland Islands (Malvinas) ($X) appeared to be the largest markets for preserved beef exported from the UK worldwide, with a combined 81% share of total exports.

Falkland Islands (Malvinas), with a CAGR of +208.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average preserved beef export price amounted to $X per ton, shrinking by -48.4% against the previous year. In general, the export price showed a abrupt decline. The pace of growth appeared the most rapid in 2016 when the average export price increased by 78%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+187.0%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Beef Imports

Imports into the UK

In 2021, purchases abroad of beef and veal (salted, in brine, dried or smoked) increased by 47% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, saw a noticeable descent. The pace of growth appeared the most rapid in 2017 when imports increased by 146% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, preserved beef imports skyrocketed to $X in 2021. Overall, imports, however, recorded a pronounced slump. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X tons), Germany (X tons) and Ireland (X tons) were the main suppliers of preserved beef imports to the UK, with a combined 90% share of total imports. These countries were followed by Belgium and Poland, which together accounted for a further 8.7%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +23.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X) constituted the largest supplier of beef and veal (salted, in brine, dried or smoked) to the UK, comprising 59% of total imports. The second position in the ranking was taken by Germany ($X), with a 17% share of total imports. It was followed by Belgium, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-4.5% per year) and Belgium (+32.8% per year).

Import Prices by Country

The average preserved beef import price stood at $X per ton in 2021, with a decrease of -9.2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 42% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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