The processed meat market will envisage a moderate 2.2% volume y-o-y growth in 2018 over 2017, opines a recent market study published by Fact.MR. The study finds that steadily growing meat industry and increasing growth of the food processing industry is majorly contributing to the growth of the processed food market.
The report finds that despite their preference for fresh food products, consumers are looking for convenience as it is becoming challenging for them to prepare elaborative meals at home due to the fast-paced lifestyle the lead. Growing meat production, increasing demand for affordable animal protein, and preference for convenience is expected to provide an impetus to growth of the processed meat market. However, demand is likely to witness moderate growth, as growing vegan trend and growing colorectal cancer concerns stall consumption.
After reading the processed meat market report, readers get insight into:
- Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
- New, promising avenues in key regions
- New revenue streams for all players in emerging markets
- Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
- Demand and uptake patterns in key industries of the processed meat market
- New research and development projects in new technologies in key regional markets
- Changing revenue share and size of key product segments during the forecast period
- Technologies and business models with disruptive potential
The processed meat market report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period. Key regions covered comprise:
- North America
- Latin America
Pork and Poultry, Together Account for over 3/4th Share in Processed Meat Market
The Fact.MR study finds that, poultry and pork are the top-selling processed meat products globally. Sufficient poultry supplies at relatively low prices and a significant rise in per-capita pork consumption in emerging nations, especially in China, is fueling demand for processed pork and poultry, which is influencing processed meat manufacturers’ leading strategies.
According to a report published by the United States Department of Agriculture (USDA), pork and chicken exports are likely to increase by 3% and 4% respectively in 2019, buoyed by bolstering demand in emerging nations. Robust demand for pork and chicken is expected to drive their production across the globe to reach 114.6 million tons and 97.8 million tons by 2019, according to the USDA report.
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Fact.MR finds that processed meat manufacturers are modifying their business strategies to leverage approximately 75% market share of processed poultry meat and pork in envisage incremental growth in the processed meat market in the upcoming years.
The evaluation of the competitive landscape in the processed meat market covers the profile of the following top players:
- JBS SA
- Tyson Foods, Inc.
- Harim Co Ltd.
- WH Group
- Hormel Food Corporation
- Cargill Meat Solutions Corp.
- Smithfield Foods, Inc.
- Danish Crown A/S
- Lotte Foods, Inc.
To expand the understanding of opportunities in the global processed meat market report looks at close quarters into the opportunities and new avenues in following key segments:
- Fresh or Chilled
- Shelf Stable
In addition to understanding the demand patterns of various end users, the report on the processed meat market also enumerates trends expected to attract investments by other various associated industries.
On the basis of product types, the processed meat market report offers insight into major adoption trends for the following segments:
- Poultry Meat
- Sheep Meat
Asian Markets for Processed Meat Attract Investments from Leading Processed Meat Market Players
According to a report published by the Food and Agriculture Organization of the United Nations (FAO), China is one of the world’s largest meat producer and per capita meat consumption rate has increased in key developing Asian countries. Increasing meat import demand in ASEAN countries, which is attributed to the increased domestic demand for processed meat, is expected to generate numerous lucrative opportunities for processed meat market players across the world.
Tyson Food Inc., a US-based processed meat market player, recently acquired Keystone Foods, an American food service company, and the deal included eight processed meat production facilities and three innovation centers in leading Asian countries, including Australia, China, Malaysia, South Korea, and Thailand. The company has invested over US$ 2.16 billion in this deal to expand its sales and distribution networks in high-growth Asian processed meat markets.
BRF S.A., a Brazilian player in the processed meat market, recently partnered with COFCO meats, a Chinese food company, to tap lucrative business opportunities in Chinese processed meat market, leveraging growing demand for animal protein in China by improving quality and food safety in the country.
Another Chinese player in processed meat market – WH Group Limited – announced that its subsidiary Smithfield Foods, Inc., with Henan Shuanghui Investment and Development Co., Ltd. and JD.com, China’s largest retailer, jointly launched a Tripartite Strategic Partnership Agreement boost online sales of Smithfield’s processed meat products, including pork products, in Chinese processed meat market. With a mounting number of processed meat market players investing in Asia, the Asian processed meat market is likely to witness relatively faster growth in the upcoming years.
The global processed meat market report offers detailed assessments and quantitative evaluations that shed light on numerous key aspects that have shaped its evolution over the historical period. In coming years, some of the key aspects that will shape the growth prospects during the forecast period are objectively covered in the study.
Some important questions that the processed meat market report tries to answer exhaustively are:
- Key strategic moves by various players in the processed meat market in recent years with respect to product launches, deals and tie-ups, and mergers and acquisitions, and divestment of shares.
- Which strategies will enable top players in the processed meat market to expand their geographic footprints?
- Which new business models are expected to change the course of growth of key regional markets in near future?
- Which technologies will witness most attractive research investments and what will be the key sources of funding for startups and new entrants?
- Which products segments have in recent years have seen new, lucrative application areas?
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