Poultrymeat and eggs are on course to be the fastest growing protein sources in the UK, Europe and the rest of the world. That was the message from Nan-Dirk Mulder, senior global specialist at Rabobank, speaking at the 55th Egg & Poultry Industry Conference (EPIC).
He said despite huge challenges in the form of cost inflation, disruption caused by the war in Ukraine, and other problems caused by lack of labour and avian influenza, poultry was currently in 1.9% growth in the UK, compared to meat overall at 0.1%.
“Poultry is the winning protein despite major operational challenges,” said Mulder.
Producers will have to cope with high costs, especially energy process while feed costs are expected to “stay high and volatile”.
However, with the economy expected to weaken and the cost of living reaching new heights, consumers are expected to trade down to cheaper proteins, such as poultrymeat and eggs.
UK consumption of poultry is lower than other European countries, said Mulder, providing an additional opportunity for growth.