Poultry Meat Market | Insights on the Crisis of COVID-19 Pandemic
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.
The global poultry meat market to register an incremental growth of USD 56.98 billion, witnessing a CAGR of over 3% during 2020-2024, according to latest market research analysis by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the poultry meat market in optimistic, probable, and pessimistic forecast scenarios.
Get a detailed insights on COVID-19 pandemic Crisis and Recovery analysis of Poultry Meat market: https://www.databridgemarketresearch.com/covid-19-resources/covid-19-impact-on-meat-in-the-food-and-beverage-industry
Meat processing companies are adopting robotics and automation technology to maximize production efficiency. Robotic systems automate deboning, cutting, butchering, and monitoring processes in meat production. This decreases cycle times and increases throughput. Automation enables meat processing companies to improve plant conditions, reduce contamination, and makes meat processing safer for workers as well as consumers. Robots can help manufacturers in transferring a wide range of meat and sausages from conveyor belts to trays at a rate of up to 240 cycles per minute. Plants with fixed automation systems increase yields by at least 2-3% over workers.
The global meat, poultry and seafood market is expected to grow from $1416.9 billion in 2019 to $1466 billion in 2020 at a compound annual growth rate (CAGR) of 3.5%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $1844.6 billion in 2023.
In February 2019, Bio4Pack GmbH announced the launch of compostable packaging product for fresh meat uses. The product is a sustainable product designed to meet all of the regulatory demands and regulations of compostable nature of packaging. It is produced from polylactic acid
Global fresh meat packaging market is expected to register a steady CAGR of 3.38% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the growing demand for case-ready meat packaging due to its various benefits in easier consumption, handling and lower costs of storage.
The meat products manufacturing market consists of sales of meat products by entities (organizations, sole traders and partnerships) that produce and process pork, chicken, beef, sheep and goats, birds, and other animals. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments.
Similarly, In India the buffalo meat exports have got massive hit by the coronavirus outbreak falling approximately 50.0% to around 50,000 tons in the last one month of the 2020. According to the data from Agricultural and Processed Food Products Export Development Authority (APEDA), buffalo meat exports got decrease by 10.04 lakh tons in the April-January period of 2019-20 as compared to in 2018-19 where it was 12.3 lakh tons.
In the current scenario, it is not possible to forecast that what will happen on the global meat market in future as it totally depends on the control of the COVID-19. If countries will be able to control the outbreak of the COVID-19 soon, it the market will definitely regain its position in market.
As of now, depending on the situation industries should be more focused on the health of the worker and the consumers. The industries, if they are open for the meat processing right now should take all safety measures in their factories or plant and at the same time, they should put pressure on the authorities to allow the supply chain moving with guidelines so that the supermarket/ hypermarket shelves get the meat on time.
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