The rising awareness about animal protein rich diet and growing demand for processed and convenience goods are the major drivers for the global processed poultry and meat market.
The rising awareness about animal protein rich diet and growing demand for processed and convenience goods are the major drivers for the global processed poultry and meat market. Concern about health and changing lifestyle of people are also reasons for the increased demand in the processed poultry and meat market and various companies are trying to satisfy these demands from the consumer. Processing automation and better packaging techniques improve product quality and its shelf life. The global processed poultry and meat market is estimated to grow at a CAGR of 7.35% during the forecast period 2018–2023. Asia is the fastest growing market with a CAGR of 9.32%, which can be mainly attributed to the rising population, increase in their disposable income both in urban and rural areas and changing lifestyle.
Processed Poultry and Meat Market Outlook
The global market of processed poultry and meat has been displaying a sharp growth. Producers in this market are involved in the production of better and efficient quality processed poultry and meat. At the same time, new players are coming up with innovative technologies in producing processed meat, resulting in increased competition in the global market. While North America holds a larger market share, faster growth rate is observed by Asia Pacific region. Processed meat market has a major market share compared to processed poultry market segment.
The global processed poultry and meat market was valued at $747.5bn in 2018 and is estimated to reach $1065.7bn by 2023, growing at a CAGR of 7.35% during the forecast period. It is estimated that North America dominated the global processed poultry and meat market in 2018 with 38% of the total market share due to the rising demand for low calorie meat and rise of research and development in the production of processed poultry and meat industry.
Processed Poultry and Meat Growth Drivers
The global processed poultry and meat market is driven by various factors, such as rising awareness about animal protein rich diet and growing demand for processed and convenience goods. Automated technology in poultry processing also complements the growth of the processed poultry and meat market. Various packaging techniques improve shelf life of the product is expected to further drive the market. Asia Pacific region is expected to show a high growth rate due to its rising demand for processed meat and poultry products and this is caused by the changing lifestyle and increase in disposable income of the consumers. Increase is also factored to consumers’ need for convenience and quality processed food.
Processed Poultry and Meat Market Challenges
Processed Poultry & Meat is facing challenges with health concerns due to consumer’s fear of diseases such as bird flu spreading on its consumption. Also, in some countries the high feed price and low domestic consumption are restraining the poultry industry which in turn affects the processed poultry industry. Another challenge faced by the market is contamination of food and its quality deterioration. Increase in the number of regulations related to safety of poultry and meat is further increasing the price and restraining the market.
Processed Poultry and Meat Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of processed poultry and meat market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the type of processed poultry and meat product and its specific end users.
Processed Poultry and Meat Market Report: Industry Coverage
By Product Type: Raw-Cooked, Raw Fermented Sausages, Cured, Fresh Processed, Dried, Precooked-cooked
By Meat Type: Processed Poultry, Processed Meat
By Packaging Film: Single layer, Multiple layer
By Packaging technique: Vacuum packing, Intelligent packing, Skin packing, Modified atmosphere packing, Active packing and others
By End user Industry: Restaurants, Food manufacturers, Retail, and others.
The global processed poultry and meat market report also analyzes the major geographic regions as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada and Mexico
- South America:, Brazil, Argentina, Ecuador, Chile, Peru, Cost Rica, and other South American countries
- Europe: The U.K., France, Italy, Germany, Spain, Belgium, The Netherlands, Denmark, and Rest of Europe
- Asia: China, Japan, South Korea, India, Taiwan, Malaysia, and Rest of Asia
- ROW: Africa and Middle East
