The
global frozen meat market depicts the presence of a highly fragmented
and competitive vendor landscape, says Transparency Market Research
on the basis of a recently published report. Such a vigorous
competitive spirit is majorly present due to innumerable players
operating in this sector. Most of the businesses have good
connections with service companies and food chains, thus maintaining
a consistent and dedicated demand of the product. Companies are
adopting aggressive marketing strategies to enhance their brand name;
following which participating in mergers and acquisitions has led
towards improvement in their network.
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Verde
Farms, Marfrig Group., BRF S.A., Kerry Group Plc., Pilgrim’s Pride
Corporation, Tyson Foods, Inc., LLC, Associated British Foods Plc.,
and Arcadian Organic & Natural Meat Co., are key players
operating in the global frozen meat market. Many players are tying up
with cold storage services to sustain their position in the market.
Key businesses operating in the global frozen meat market are
investing substantial amount of money to enhance production
techniques by carrying out extensive research and innovation. Lastly,
owing to such innovative production methods introduced, several
players are aiming towards increasing product yield, production
capacity, and regulating product costs.
According
to experts from Transparency Market Research, the global frozen meat
market is expected to fetch revenue worth US$30.0 bn by the end of
2026. This growth is projected to occur at a steady CAGR of 3.4%
during the forecast period from 2017 to 2026.
Widespread
advancements associated with freezing techniques to lengthen the
lifespan of meat products and improve their quality are primarily
driving growth in the global frozen meat market. Eating habits are
rapidly changing all over the globe, and many now prefer ready-to-eat
meat products and foods. A fast-paced living standard, surge in
online food orders, and availability of less time to cook using
freshly bought meet, are three lifestyle changes, which are making
the global frozen foods market grow extensively.
With
food delivery services becoming more efficiency and cheaper, the
frozen
meat market is expected to witness an augmented growth in the
near future. Sometimes, restaurants and foodservice chains might face
a shortage of fresh meat, and this could hamper their sales greatly.
However, this situation can be reversed by storing frozen meat and
utilizing as per requirement. Thus, as utilizing frozen meat proves
extremely beneficial for restaurants and other food joints, the
global frozen meat market is expected to witness a handsome growth.
Costly
Frozen Meat Processing Methods Hamper’s Growth
However,
processing frozen meat often proves to be costly, which can further
translate into expensive foods for the end user. Such costs could
notably discourage potential customers, making them consider other
options. In this way, high expenditures required for processing of
frozen meat is greatly hampering the global frozen meat market.
Moreover, shortage of frozen meat in less developed regions too is
posing as an obstacle to the market’ growth, from a geographical
perspective. Nevertheless, many businesses are introducing
cost-effective processing techniques, which could offset most
restraints affecting the global frozen meat market.
The
information presented in this review is based on a Transparency
Market Research report, titled, “Frozen Meat Market (Product Type -
Beef, Chicken, Lamb, Pork, and Other Product Types; End-user - Food
Chain Services, Modern Trade, Departmental Stores, Online Stores, and
Other End Users) - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2017 - 2026.”
Key
Takeaways
- Companies are adopting aggressive marketing strategies to enhance their brand name; following which participating in mergers and acquisitions has led towards improvement in their network.
- With food delivery services becoming more efficiency and cheaper, the frozen meat market is expected to witness an augmented growth in the near future.
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