Restaurants
and foodservice chains in several parts of the world continue to face
shortage of meat against the rampant consumption. This has turned
them towards keeping large amounts of frozen meat in stocks.
Consumers are stacking their refrigerators with frozen meat products
to cater to the changing requirements in the household consumption.
While the demand for frozen meat products continues to gain traction
vigorously, meeting these demands is becoming a great challenge for
companies. Producing frozen meat items at large scale is a food
processing challenge which entails high expenditure on the operations
and maintenance of huge machineries. Moreover, key players in the
global frozen meat market are compelled to follow strict compliance
to quality standards and production safety.
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Such
factors and several others will continue to influence the growth of
the global frozen meat market in the foreseeable future. According to
Transparency Market Research’s forecast study, the global frozen
meat market will register a sluggish expansion at a CAGR of 3.4%
during the forecast period, 2017-2026. The report further projects
that more than US$ 30 Bn worth of frozen meat products will be sold
globally by the end of 2026. From complexities in supply chain to
emergence of new processing and refrigeration techniques, a slew of
factors are expected to influence the dynamic growth of the global
market for frozen meat over the forecast period. The report further
reveals that Asia-Pacific excluding Japan (APEJ) region will amass
highest revenues in the global frozen meat market. By the end of
2026, the APEJ frozen meat market will touch US$ 9.3 Bn in terms of
value.
Frozen
Beef and Frozen Chicken – Top-selling Products through 2026
The
report has observed that the demand for frozen beef will reach new
highs through every passing year in the forecast period. In 2017,
more than US$ 7.1 Bn worth of frozen beef products were sold in the
global frozen meat market. This number is expected to rise robustly,
and bring in more than 30% of overall revenues throughout the
forecast period. In addition, frozen chicken products are pegged to
register a CAGR of 3.5%, while frozen pork products will incur
fastest sales through 2026. In the near future, consumers will remain
more inclined towards consuming frozen red meat products for being
rich source of high quality proteins and amino acids.
Robust
Demand across Global Food Chain Services
The
largest end-use of frozen meat products will remain concentered among
the food chain services in the global market. The global frozen
meat market will witness highest share of revenues emanating
from food chain services in the world. In addition, modern trade
outlets will also register a considerable uptick in the end-use of
frozen meat products. A key finding from the report reveals that
online stores are likely to register fastest end-use of frozen meat,
exhibiting revenue growth at a steady CAGR of 5.1%.
Key
Producers of Frozen Meat
Leading
manufacturers of frozen meat products have been profiled in the
report to deliver detailed competition assessment. Marfrig Group.,
Kerry Group Plc., BRF S.A., Associated British Foods Plc., Pilgrim’s
Pride Corporation, Tyson Foods, Inc., Verde Farms, LLC, and Arcadian
Organic & Natural Meat Co. are expected to lead the market in
terms of production, and play instrumental roles in the global frozen
meat market expansion through 2026.
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