Frozen Processed Meat Market Expected to Grow at CAGR 4.5% During 2018 to 2023
Global Frozen Processed Meat Market Research Report: By Type (Beef, Pork, Chicken, Mutton and Others), Process (Cured, Uncured), Distribution Channel (Store Based, Non-Store Based) and Region (North America, Europe, Asia Pacific and Row) – Forecast Till 2023
pune, India – April 24, 2018 /MarketersMedia/ —
Market Overview:
Global Frozen processed meat market is estimated to grow at the CAGR of 4.5%. Frozen processed meat basically Frozen processed by using various freezing technologies. Frozen processed meat majorly comes in two major category such as cured meat & uncured meat. Curing is preservation and flavoring process so as to enhance the flavor & shelf life end meat product.
The food industry is observing a substantial growth over the last decade as frozen processed food demand is increasing among the consumers. The significant factor driving the growth of the frozen processed meat market is the increasing demand for high protein food among the consumer. Consumers are inclined to adopt meat to fulfil their health nutrients. Furthermore the development of the food technology is providing the extra space for the frozen processed food manufacturers. Apart from that, the hectic lifestyles of the people coupled with the changing consumption patterns of the consumer is further propelling the demand of frozen processed meat market.
Rising number of nuclear families in developed countries coupled with the mounting migration of people from rural areas to metropolitan cities is anticipated to drive the demand for frozen processed meat during the forecasted period. In addition, mounting growth of organized retail industry is also anticipated to be one of the important factor for increasing growth of frozen processed meat market during the forecast period. Rising disposable income is a supporting key factor for consumers to buy the products from the super markets & hyper markets.
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Key players in the global frozen processed meat market are emphasizing to enhance their investment in product development in order to extend the product line. Also, the companies are inclined in increasing their footprint across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies in order to penetrate in the untapped market.
Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major frozen processed meat market players. It further includes product portfolios, developments of leading major players which includes
Marfrig Group (Brazil)
Kerry Group plc. (Ireland)
BRF S.A. (Brazil)
Associated British Foods Plc (U.K)
Pilgrim’s Pride Corporation (U.S.)
Cargill Incorporated (US) and
Tyson Foods, Inc. (U.S.)
Frozen processed meat market is dominated by key manufacturers and very few new players are entering in frozen processed meat market as high investment cost is required for frozen processed meat processing units. The global frozen processed meat industry is estimated to witness increase in mergers, acquisition and strategic alliance in upcoming years.
Segments:
Frozen processed meat is segmented on the basis of type, comprising of beef, pork, chicken, mutton, and others. Among all the segments, beef accounts the maximum market proportion in the global Frozen Processed Meat market. Rise in the availability of cattle in the various countries such as Argentina, Uruguay, and Australia is anticipated serve a lucrative opportunity among the meat manufacturer.
On the basis of process, the frozen processed meat market is segmented into cured, uncured, others. The cured segment is anticipated to dominate the market over the estimated period.
Based on the distribution channel, frozen processed meat is distributed either through a store based channel or non-store based channel. However, the store based channel is dominating the market on the basis of providing one-stop experience to the customers.
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Regional Analysis:
The global frozen processed meat market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, Europe region is estimated to retain its dominance throughout the forecast period. The market is projected to grow at a steady pace in the review period. Asia-pacific will be the fastest growing region in the frozen processed meat market and high growth in emerging economies such as China, India, Japan and ASEAN countries. Latin American countries, offers ample opportunities for expansion to major players. Middle East region is projected to be one of the lucrative place to enhance the business of frozen processed meat.
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Source: MarketersMedia
Release ID: 335928
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