Main pork market grows to £800 million, says AHDB

Posted on Aug 25, 2023

AHDB has launched its newest analysis of Kantar data on the first pork market, which reveals the market has grown 10.2% year-on-year (YoY) to £800 million.

The first pork market has grown to £800 million YoY.

The expansion was measured over the 52 week interval ending ninth July 2023, and confirmed that it was 1.8 share factors (pp) forward of the YoY improve for whole grocery over the identical interval.

Common major pork costs had been up by 15.7% YoY to £5.71/kg whereas in yr to ninth July volumes had been 4.7% decrease. That is 2.1pp greater than the YoY decline for meat, fish and poultry, with majority of gross sales coming from older customers.

Of the meat, fish and poultry market, pork at present makes up 10.6% of volumes, with major pork making up 14.9% of volumes. Within the week ending ninth July, it value £1.50 lower than the common for whole major meat, fish and poultry.

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Main pork loses title of greatest performing pink meat

Till July, major pork held the title of greatest performing pink meat on account of its YoY quantity lower being decrease than different major meats. Nevertheless, as major pork costs rise, buying volumes have decreased.

In response to AHDB, this is because of cost-of-living pressures inflicting shoppers to commerce right down to cheaper merchandise like mince and sausages in addition to cheaper proteins like rooster. A complete of 26.3% of all major pork YoY quantity losses had been attributable to shoppers switching to major rooster, the present most cost-effective protein available on the market at £4.81/kg.

Analysis from AHDB has beforehand proven that solely 46% of customers agree that pork is tasty, whereas 63% agreed that beef was tasty, and that in occasions of financial wrestle style turns into extra necessary to customers. With beef now performing barely higher than pork, this might be seen as a legitimate purpose for the change in gross sales.

Prospects make the change to pork

Quantity progress in mince gross sales has risen by 17.5%, coming in at £4.98/kg to be declared the most cost effective major pork minimize within the yr to ninth July and the most cost effective mince out of all of the pink meats. Over a fifth of pork mince’s quantity positive aspects have been a results of shoppers switching from lamb and beef mince.

The costliest major pork minimize, pork loin medallions, averaged a worth of £7.60/kg within the week ending ninth July. Promotional affords helped its efficiency, with 38% of volumes bought being a part of offers like momentary worth reductions.

AHDB highlights that if cost-of-living pressures proceed into Christmas, there might be elevated demand for pork roasting joints, that are roughly 50% cheaper than beef and lamb joints.