According to the new market research report by IndustryARC titled “
Processed Poultry & Meat Market: By Product Type; By Meat type; By Packaging Film; By Packaging Technique; By End Use Industry; By Geography - Forecast (2018-2023)
,” the global processed poultry and meat market is driven by different factors, such as raising 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 the shelf life of a product and is expected to further drive the market.North America to have a major share in the Processed Poultry & Meat Market
The U.S. is the largest poultry producer and it is majorly driven by the improvement in research and development facilities of the poultry industry. It is observed that less calorie content of poultry meat over red meat will contribute people buying poultry meat more. The high demand in U.K. for quality and nutrient-rich food has resulted in high consumption of poultry meat whereas the production is uncertain with the ‘Brexit’. Asia is followed by South America, which is further followed by the Middle East and Africa, North America, and Europe, respectively in terms of growth rate. The North American market is projected to grow at a CAGR of 6.78% during the forecast period 2018-2023, while Asia is projected to be the fastest growing market with a CAGR of 9.32% owing to the growth in population and increase of disposable income.
Selected/Sample Analysis done in the full Report
The global processed poultry and meat market is segmented based on the product type, meat type, packaging film, packaging technique, end use industry, and geography. It was observed that the chicken-based processed poultry market was the leading segment and it contributed 31.8% market share in 2017 and is estimated to dominate during the forecast period. In 2018, it was observed that the cured segment holds the highest market share. Multi-layer films are more in use than single layer films as they keep the meat fresh for longer. Hence they have a 7.79% growth rate while single layer films have a 6.43% growth rate.
Excerpts on Market Growth Factors
- There is significant scope of growth for processed poultry and meat market in future as there is an increased demand for meat and its subsidiary products. Therefore, several market players are entering the market with various types of processed meat and its products.
- Increased awareness of consumers about the benefits of animal proteins and nutrients is another major reason for the increase in demand. Consumers are also looking for convenience and processed food especially in meat market.
- Government relaxation on policies and affordability also results in high demand for poultry and meat market.
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Key players of the Processed Poultry & Meat market
Tyson Foods is the main company in processed poultry & meat market. The company has its headquarters in Springdale, United States. Some of the major players in the home Processed Poultry & Meat market are Sanderson Farms Inc., Tyson foods Inc., Marfrig Group, Cargill Inc., WH Group, BRF S.A, Hormel Foods Corporation and more than 10 companies.
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