(Food-Beverage-News.Com, February 24, 2018 ) Asia-Pacific Processed Meat Market was worth $85.54 billion in 2017 and estimated to be growing at a CAGR of 15.18%, to reach $173.4 billion by 2022. Asia-Pacific inclines to be the favorable market majorly due to increasing demand for high value protein growth and food in strategic retail.
The meat processing products are essential input for meat manufacturers as it plays a very vital role in the production method. Less alertness of fresh processed meat products in Asia Pacific region is a main challenge and at the same time it is a big prospect for the sellers to tap those countries.
Growth of Meat market mostly depends on urban development. Effective logistics are prominent in driving Meat demand. Supply of Meat to buyers through retail stores is another major demand driver. The growing demand for quality meat is largely met by industrial animal operations or factory farming. As such, processed meat and fast food are substituting traditional meals. Conversely, personal health worries and the mad cow panic led to the vegetarianism trend in this region.
Asia-Pacific market for processed meat is segmented by processing technology and meat type. By Processing Technology, the market is divided into Fresh-Processed Meat, Raw-Cooked Meat, Pre-Cooked Meat, Raw-Fermented Sausages, Cured Meat, Dried Meat. Based on Meat type the market is segregated into Poultry, Beef, Pork and Mutton. Processed poultry is the largest segment and accounts for the largest share of the processed meat market. Cured meat is expected to witness high growth in the forecast period.
Geographically the market is segmented into China, India, Japan, South Korea and Australia. China alone accounted for a large share of growth driven by strong accomplishment in chilled processed meat and preserved meat. Processed meat is the largest market in the Asia-Pacific region and expects significant growth opportunities.
Key players in the processed meat market include Tyson Foods, Cargill Inc., Gulf Food Industries, Sunbulah Group, BRF S.A., Cherkizovo Group, National Food Co., Hormel Foods, Marfrig Group and Sanderson Farms Inc.
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