The global market for processed poultry and meat is propelled forward by a variety of factors, including a growing awareness about the need of consuming a diet high in animal protein and an increasing desire for convenience and processed items.
The rise of the market for processed poultry and meat is complemented by the introduction of automated technology in the poultry processing industry. It is anticipated that the variety of packaging solutions that lengthen the product’s shelf life will continue to drive the industry. The Asia-Pacific region is forecast to show a high growth rate because of the region’s increasing demand for processed meat and poultry products. This demand is developing as a result of consumers’ shifting lifestyles and rising disposable incomes, both of which are contributing factors. It is also important to consider the growing demand from customers for convenient and high-quality processed foods.
The expansion of the global processed poultry meat market is driven by an increase in health awareness about diets high in animal protein, growing demand for processed and convenient foods, and the availability of processed chicken meat products at prices that are affordable. In addition, unwavering backing from the government and unparalleled expansion in the retail industry is anticipated to create potential prospects for the market during the period covered by the forecast.
The chicken sector held the largest market share in 2021, accounting for more than four-fifths of the overall market share, and it is anticipated that it would maintain its leadership status throughout the forecast period. In addition, it is anticipated that this particular segment would record the greatest CAGR of 7.8% between the years 2022 and 2031. The study also provides an analysis of the various market segments, such as turkey, duck, and others. It is anticipated that the retail segment would maintain its leadership position during the forecast period, as it represented over three-fifths of the total market share in 2021 and held the biggest market share based on end user.
On the other hand, it is anticipated that the food service sector will record the greatest CAGR of 7.9% between the years 2022 and 2031. It is anticipated that North America will maintain its dominant position of the market until 2031, which will allow it to continue contributing the greatest proportion in terms of revenue in 2021. North America currently has more than two-fifths of the overall market share. Nevertheless, it is anticipated that the Asia-Pacific region would demonstrate the highest CAGR of 9.3% during the time covered by the forecast.
To read the entire article, please access your complimentary e-copy of Frozen Food Europe September-October, 2022 issue here.