While
an incrementing number of people are opting for vegetarian and even
vegan food across the world, meat products continue to be the most
prominent ingredient of daily diet of large masses. With
technological advancements, it is now possible to preserve meat
products for extended periods of time by the means of freezing and
the market for frozen meat has been prospering on the back of growing
reliance of urban populations on easy to cook food products and
ready-to-eat meals. A recent business and commerce study by
Transparency Market Research has notified that while the demand in
the global frozen meat market will expand at a moderate CAGR of 3.4%
during the forecast period of 2017 to 2026, there will still be
substantial opportunities for the vendors to gain profits from.
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Global
Frozen Meat Market to breach US$30.0 bn Mark by 2026
The
analysts of the report have estimated that the global frozen meat
market will be worth US$30.0 bn by the end of 2026. As far as the
competitive landscape is concerned, the report identifies BRF S.A.,
Marfrig Group., Pilgrim’s Pride Corporation, Kerry Group Plc.,
Associated British Foods Plc., Tyson Foods, Inc., Verde Farms, LLC,
and Arcadian Organic & Natural Meat Co. as some of the key who
have established themselves over the year. The players have strong
supply chain connected to food service companies and restaurant
chains, which maintains a consistent and dedicated demand.
In
addition to that, these players regularly resort to aggressive
marketing strategies to create a brand name as well as indulge in
mergers and acquisition activities to strengthen their network.
Tie-ups with cold storage services is essential to sustain strong
position in this market. Major players are also enhancing their
production methods in order to increase yield and offer their
products at competitive costs. However, the lack of standard
regulations for refrigeration techniques and supply chain
discrepancies are frequently causing losses across some segments.
Online
Stores Emerging as Profitable End-use Segment
Based
on product type, the report segments the global
frozen meat market into chicken, beef, pork, lamb, and other
products, with the first two providing for the maximum chunk of
demand. The analysts have evaluated that about US$7.1 bn worth of
frozen beef products were sold in 2017. Based on end-users, the
market has been bifurcated into modern trade, food chain services,
online stores, departmental stores, and other end users. The online
stores category is projected to exhibit incrementing demand at an
above average CAGR of 5.1% during the forecast period of 2017 to
2026. Geographically, the region of Asia Pacific except Japan (APEJ)
has been highlighted as most lucrative, constituting for nearly
one-third of the total demand in the global frozen meat market.
Advancements
in Freezing and Preserving Techniques Driving Demand
Apart
from a large pool of populations who are meat-eaters, the demand in
the global frozen meat market is gaining traction from the
technological advancements in the methods of freezing that has
enabled the producers to maintain the nutritious values of their
products for longer periods of time. Changing eating habits of urban
population on the back of restless lifestyle and growing trend of
online food ordering that has mushroomed food delivery services
players are some of the other factors augmenting the demand in the
frozen meat market.
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