The meat industry is experiencing significant growth on a global scale, with the market value expected to surpass £1.06 trillion by 2027, according to Statista. In the UK, the fresh meat market alone generated £14.27 billion in revenue in 2023 and is projected to grow at an annual rate of 4.12% (CAGR 2023-2028).
Within the protein groups, the poultry market is anticipated to see gradual improvement from the last quarter of 2023 through early 2024, as suggested by Rabobank, a global banking company. Lower feed costs are predicted to support this growth, making poultry more affordable and aiding in industry recovery. Nan-Dirk Mulder, a senior analyst at Rabobank, notes that poultry’s competitive pricing compared to beef, pork, and alternative proteins positions it well to meet rising demand.
The current geopolitical climate has had implications for poultry sales globally, and companies like Seara have capitalized on this trend by expanding their chicken product offerings. Alexandre Mattos, head of sales and operations for the UK and Republic of Ireland at Seara, explains that consumers are prioritizing sustainably produced, nutritious, and affordable options, which has led to increased demand for their chicken products. Seara has responded by diversifying their range and introducing a “fully cooked” line to cater to convenience-seeking customers.
While the meat industry continues to thrive, the cell-based meat sector has gained considerable attention in recent years. This innovative industry focuses on cultivating meat from individual cells of animals, eliminating the need for traditional slaughter methods. The surge of interest in cell-based meat is reflected in the significant investments that have poured into the sector, totaling £2.6 billion since 2016.
However, despite the hype and financial backing, challenges remain. The production of cell-based meat faces obstacles in terms of cost and scalability, limiting manufacturers’ ability to meet consumer demand. Access to enabling technologies and a lack of skilled labor further hinder the sector’s growth potential. These challenges are not unique to cell-based meat; the meat industry as a whole struggles to attract skilled workers due to historical perceptions of poor working conditions and low pay.
Notably, butchers and poultry processors have been excluded from the Shortage Occupation List in the UK, exacerbating labor shortages. Tony Goodger from the Association of Independent Meat Suppliers highlights the negative image associated with working in the industry and emphasizes the need to change these perceptions to attract talent. The shortage of skilled workers impacts efficiency, increases production costs, and ultimately leads to higher meat prices.
In conclusion, the meat industry is expanding globally, with the poultry sector positioned for growth due to lower feed costs and competitive pricing. However, the cell-based meat sector, despite significant investments, faces challenges in meeting consumer demand due to cost, scalability, and labor shortages. Addressing labor concerns and increasing public awareness of opportunities within the meat industry will be crucial for future growth and success.
