Asia-Pacific Processed Meat Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Processed Meat Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Processed Meat Market is anticipated to register a CAGR of 11.19%, during the forecast period.

Key Highlights

• Increasingly busy urban lifestyles in Asia-Pacific have resulted in consumers opting for convenient food that does not expend time for cooking or preparation. The rising preference for ready-to-eat meals is fuelling the processed meat products market.
• The major attributes that consumers look for in convenience foods are ease of use, packaging, nutritional value, safety, variety, and product appeal. Processed meat products are prepared by adding various preservatives at specific conditions and few of them need an efficient supply chain and storage to retain their properties.

Key Market TrendsGrowing Demand for Convenience Foods in the Region

The reason for the growth of processed meat in Asia-Pacific can be attributed to shifting consumer trends and the emergence of ‘snacking’. Consumers who work far from home, or have other obligations, tend to opt for a quick and easy snack, as opposed to a larger meal that takes time to prepare. 8 in 10 metro Thais and 7 in 10 Indonesians snack at least once a day. The major attributes that consumers look for in convenience foods are ease of use, packaging, nutritional value, safety, variety and product appeal. Processed meat products are prepared by adding various preservatives at specific conditions and few of them need an efficient supply chain and storage to retain their properties.

China Holds the Largest Share in Processed Meat Market

Innovation within the chilled meat categories has increased over the years, and Asia-Pacific has the highest growth potential in this category, globally. Asia-Pacific was the second most active region, globally, in terms of chilled and frozen processed meat categories. The major companies are promoting the health benefits of animal proteins in countries, like India to increase the growth of the market. The rising demand for organic livestock is an opportunity for vendors to increase their market share.Moreover, new product development accounts for 24% share of the total processed meat product innovations, led by China, Thailand, South Korea, Vietnam, and Philippines.

Competitive Landscape

Asia-Pacific processed meat market is fragmented, with a considerable number of regional small-medium scale players and also key global players. Some of the major key players in the processed meat market are BRF S.A., Cargill Inc., Cherkizovo Group, Foster Farms, Hormel Foods, Marfrig Group, National Beef, Nippon Meat Packers Inc., Perdue Farms, Pilgrim’s Pride, Sadia S.A., Sanderson Farms Inc., Shuanghui International, Smithfield Foods Inc., and Tyson Foods Inc., among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.