Brits spend £811m on premium steak in 2021

By James Ridler contact

- Last updated on GMT

Brits spent £811m on fresh beef steak in 2021
Brits spent £811m on fresh beef steak in 2021

Related tags: Meat & Seafood

Brits spent £811.6m on fresh beef steaks in the 52 weeks to 8 August 2021, while demand for economy product dropped for the third year in a row.

Sales for fresh beef steaks was up 11.26% year-on-year (Y-O-Y), up from £729.4m reported in the previous year, according to data from Kantar. Volume for fresh beef steak was also on the rise, up 9.64% Y-O-Y.

This coincided with a rise in demand for other premium beef product ranges, including Tesco Finest, Sainsbury’s Taste the Difference, Asda Extra Special and Morrisons The Best.

While premium products received a boost, economy products were in less demand over the past year, cementing a three-year trend observed by Kantar.

Economy beef down

Economy beef accounted for 4.1% of all beef sold in the 52 weeks to 8 August 2021, down from 5.8% last year, 6.9% in 2019 and 7.3% in 2018.

The findings come as the World Steak Challenge returns on November 10 for its seventh year with official host partner Bord Bia.

Commenting on the rise in take-home steak sales, Institute of Meat chief executive and World Steak Challenge advisor and judge Keith Fisher said: “During the lockdowns, people were restricted on where they could go and eating out became a ‘dine at home’ situation.

“Many may have wanted to recreate that feel-good restaurant experience and upgraded to better quality beef steaks. I’m not surprised by the rise in steak sales, especially as there now seems to be a far greater number of really top quality, well-cut, well-trimmed steaks on display in stores.”

World Steak Challenge

The World Steak Challenge puts the planet’s finest cuts to the test and gives steak producers and suppliers the opportunity to showcase product quality, breed credentials, processing standards and flavour on a global stage, is now accepting entries.

Categories include World’s Best Sirloin, World’s Best Rib-Eye, World’s Best Fillet, Best Grain-fed and Best Grass-fed, alongside the overall World’s Best Steak title.

Ellie Knight, World Steak Challenge head of events, said: “There’s never been so much choice for the consumer – this is a trend we’ve seen with the World Steak Challenge which, this year, has had a record number of entries. The event delivers a recognised stamp of quality and sets the benchmark for international steak production.

Next month a panel of 50 independent judges will converge in Dublin at FIRE Steakhouse & Bar to test out and crown the world’s best steak, and name 2021 champions in the sirloin, rib-eye, fillet, grain-fed and grass-fed categories. We cannot wait.”

Meanwhile, China’s latest ban of British beef imports over a case of bovine spongiform encephalopathy (BSE) could damage future trade with the country,​ according to the Agriculture and Horticulture Development Board.

Related topics: Supply Chain, Meat, poultry & seafood

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