Meat, Poultry and Seafood
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Meat, Poultry and Seafood
The global meat, poultry and seafood market is expected to grow from $1389.58 billion in 2020 to $1442.42 billion in 2021 at a compound annual growth rate (CAGR) of 3.8%. Due to increased demand for meat, poultry and seafood products, the industry is projected to expand significantly during the projected era. The demand for meat, poultry and marine products comprises meat, poultry and marine products sales by entities (organizations, single traders and partnerships) that manufacture and process meat, poultry and marine products. Facilities involved in the slaughtering and processing of animals, poultry and seafood processing and packaging are included in the beef, poultry and maritime industry. Industry companies’ package and distribute their products to individual clients and commercial enterprises through various distribution channels.
The world’s population is rising at 10 billion by 2050. Population growth generates more food demand. The global cereal production is expected to grow by 13 percent by 2027, according to the OECD and FAO Agricultural Perspectives. Crop production, agricultural activities and volumes of trade would have to rise to meet the growing population. Thus, the increasing demand for meat, poultry, and meat products due to growing population will be expected to support companies in this market during the forecast period.
The outbreak of the Coronavirus disease (COVID-19), which caused trade restrictions, and a decrease in consumption due to lock downs imposed by governments globally, has served as a major restriction on the livestock, poultry and maritime industry by 2020. COVID 19 is a flu-like infectious disease, including fever, cough and breathing difficulties. The virus was first detected in 2019 and spread worldwide including Western, North American and Asia in Wuhan, Hubei Province of the People’s Republic of China. The manufacturers of food and drinks depend on domestic and foreign suppliers to supply raw materials. Since several nations and countries limited the flow of products, factories have had to stop production because of the lack of raw materials. The trade controls on non-essential products and the concern of manufacturing facilities for contamination have led to the decrease. It is estimated that the epidemic will continue to negatively affect companies during 2020 and 2021. However, the demand for meat, poultry and maritime products is expected to rebound from the shock over the forecast period, as it is a ‘black swan’ phenomenon that is unrelated to ongoing and basic market or economic deficiencies.
To maximize returns, poultry processing companies increasingly use 3D imaging systems. In 3D imaging systems poultry bird models are used to assess the cut location with sensors and actuators. The bird is positioned under a visual system that tests and defines images and geometry. The amount of meat and bone present in birds is determined by near-infrared sensors. Vision analysis allows the machine to optimally cut each bird irrespective of size and shape. It is a data-driven process that maximizes production and reduces poultry meat processing costs per plant.
Key Trends in the industry:
- In 2016, seafood became the largest segment of the product. Seafood demand is projected to increase by 6.4% in terms of sales over a predicted period in Central and South America at CAGR.
- A market share of 17.4 percent of the total volume in Europe is projected to be in 2025 for poultry. The most rapidly growing segment in Europe is also projected to be poultry.
- In 2016 the proportion of meat products in North America was 42 per cent. In the next eight years, rising demand for meat and meat products and growing market awareness will increase the demand for meat.
- In 2016 demand was 9.0 million tonnes of seafood in North America. In the last few years there has been increasing demand for salmon, sardines and shrimp.
- The regional market of beef, poultry and seafood in the Asian Pacific region has arisen. China represented 39.7% of the overall volume in 2025 with a market share.
- Increasing health awareness for natural and not artificial foods has led to an increase in the overall consumption of organic meat.
The global meat, poultry and seafood market is segmented –
1) By Type: Meat Products, Poultry, Seafood
2) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others
3) By Nature: Organic, Conventional
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