"Consumers hold the key to a more resilient future. UK shoppers will have to pay more for their meat," Deloitte's farming and agriculture partner Richard Crane said in a news release.

Economists have said that Europe's rising food bills could feed through into higher inflation.

"Increased prices will allow farmers to continue to meet the increasing demand for local, high quality meat," Crane added.

"This is likely to be the inevitable cost of securing and also safeguarding the future of UK meat production. Without it, the opportunity to enjoy home-grown quality produce and British meat could become a rarity on supermarket shelves."