British beef farmers set to get €260m boost from China access
It is estimated the Britian's new market access to China could be worth almost €260 million to the country's beef sector in the first five years, according to the ADHB.
This is the first time British beef will be allowed to enter the market since 1996.
China is the largest beef importer in the world. With a rapidly expanding population and a growing middle class, consumption of beef and other red meat is forecast to climb.
"This is particularly significant now, given the outbreak of African swine fever decimating China’s domestic pig population. As such, China and other Asian countries represent huge export potential," AHDB analysist Felicity Rusk said.
A recent AHDB report on the Asian market highlights two main avenues of opportunity; premium, high value cuts and manufacturing beef.
"Demand for manufacturing beef from Japan, South Korea, and China has been growing steadily for the last couple of years.
"Part of this growth has been driven by the westernisation of diets and growth in foodservice.
"McDonald’s opened over 300 new stores in China last year, bringing the total to 2,800. By 2022, McDonald’s expects to have 4,500 stores across China and Hong Kong," Ms Rusk said.
She also highlighted that food hygiene and supply chain transparency are key attributes of quality to Asian consumers.
McDonald’s have incorporated these values into their dining experience, she said, by adding a feature onto their website to enable customers to trace from which farm their food originates and scannable QR codes on packaging to allow consumers to easily access nutritional information.
Another key trend driving increased demand for manufacturing beef from Asian consumer is the increased feeling of time scarcity.
"Longer working hours and active social lives means consumers are looking for pre-prepared products, e.g. marinated, de-boned and processed meat, which make the cooking process easier and faster," she said.
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