Impact of the COVID-19 pandemic on the meat industry in the food and beverage industry
The meat industry is largest segment of food industry. The growing demand for the high valued animal protein has brought an increasing pressure on the livestock sector since long. It has been observed that this sector is growing with unpredicted growth rate due to certain driving factor such as increase in population, rising income and increasing urbanization. According to WHO, the meat production is projected annually with an increase to 376 million tons by 2030 from 218 million tons in 1997-1999.
But last year during starting year of 2020, pandemic crises started that has raise the question on the meat industry and the practices. The crises is not new to this industry because there were number of problems the industry has faced where its demand has fallen down and they were “Mad Cow” in 2005, SARS in the year 2003, and another in 2005 which was ”Bird Flu”. All these endemic and pandemic in last few decades have impacted the meat industry badly.
For more insights and in-depth knowledge click here: https://www.databridgemarketresearch.com/covid-19-resources/covid-19-impact-on-meat-in-the-food-and-beverage-industry
Global Plant-Based Meat Market
Global Plant-Based Meat Market By Source (Soy, Wheat, Pea, Mycoprotein, Gluten Others), Product (Burger Patties, Sausages, Strips & Nuggets, Meatballs, Others), Type (Pork, Beef, Chicken, Fish, Tofu, Tempeh, Quorn, Mushroom, Seitan, RTC/RTE, Natto, Others), Process (Grinding, Mixing, Blending, Forming/Shaping, Freezing Systems, Storage), End-Use (Retail, Industrial), Distribution Channel (B2B, B2C), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
The Global Plant-Based Meat Market, valued at USD 4291.58 million in the year 2019 is growing on the back of rising number of buyers demanding plant-based meat product either for clinical reasons or for practicing healthy lifestyle.
According to U.S. Department of Agriculture, the global chicken meat trade has fallen by 4.0% to 11.7 million tons on the downward revisions for all major exporters except Brazil. Due to this, the global chicken meat trade will get shrink by 1.0% from the last year.
Also, producers making efforts on a continuous basis for manufacturing plant-based meat (alternative source of protein) are the major factors impelling the market growth. Furthermore, rising obesity rates across the globe, coupled with consumer interest in healthier food alternatives, are also expected to drive the demand for meatless proteins during the forecast period of 2020-2025.
During the beginning of the coronavirus pandemic, the meat business was hammered by warnings of meat deficiencies because of temporarily shuttered plants and growing number of sick workers. The market leaders such as Beyond Meat Inc., Impossible Foods Inc., and Tofurky Co. are increasing the level of production amid pandemic and also offering discounts on their plant-based meat products to enhance consumer base, expanding stores, and completing partnership with the stakeholders.
Global Meat Processing Equipment Market
Meat is a popular perishable product. Meat is an edible part of animal having high content of proteins which can be manufactured and prepared from animal tissues. Meat processing equipment is used in converting the raw meat ingredients into ready-to-eat meat and other meat forms as per the demand of the consumer. This processing equipment helps in removing the toxin and enhancing the meat consistency hence preserving the meat. Meat processing affects the physical and chemical characteristics of the product due to physical forces, heat as well as the addition of salts, some essences, spices and other flavoring agents or processing aids. Poultry is the offering almost all types of processed meat, with an approximately 38 percent share of the global market.
Global Processed Meat MarketÂ
Global Processed Meat Market By Type (Chilled, Frozen, Canned/Preserved), Meat Type (Poultry, Beef, Pork , Mutton), Processing Technology (Fresh Processed Meat, Raw Cooked Meat, Pre Cooked meat, Raw Fermented Sausages, Cured meat, Dries Meat), Product Type (Cured, Uncured), Distribution Channel (Hypermarket/Supermarket, Convenience/Departmental Store, Specialty Store, Horeca, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis:Â Global Processed Meat Market
Global processed meat market is expected to rise to an estimated value of USD 1712.33 billion by 2026, registering a healthy CAGR during the forecast period of 2019-2026. This rise in market value can be attributed to rising need of ready-to-eat and convenient food.
Key Insights in the report:
· Competitive analysis of key competitors involved in the market
· Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
·  Market drivers and restraints analysis along with the analysis of the market structure