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The APAC edible meat market size is projected to increase by USD 161.73 billion, at a CAGR of 5.08% between 2023 and 2028
In 2023, APAC's offline segment led the market with its personalized shopping experience, direct interaction, and trust. Offline channels, including supermarkets and local butcher shops, cater to cultural preferences, offering customization and traditional products. Consumers value the convenience and personal touch, driving consumption trends. As per global forecasts and analysis, the offline segment is set to continue its growth trajectory, fueled by these consumer benefits and market dynamics. Additionally, Al Aali Exports Pvt. Ltd company offers edible meat such as processed buffalo, Frozen, Halal, and Boneless.
The market shows an Accelerated CAGR during the forecast period.
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Rising awareness of high sources of nutrition is the key factor driving market growth. It is important to consume food products, such as poultry products, which provide all the necessary nutrients to maintain a healthy diet. These products are good sources of nutrients such as proteins, vitamins (especially B12, B6, hydrophilic, and niacin vitamins), minerals (iodine, iron, phosphorus, copper, and zinc), and omega-3 fatty acids [docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA)]. EPA and DHA help in weight management, cognitive function, and prevention of Alzheimers disease.
In addition, minerals and other nutrients present in these products help in the growth and development of the brain and reproduction. Also, with several health benefits associated with this, the demand for such products is expected to increase during the forecast period. Thus, the rising awareness of the high sources of nutrition will propel the demand and drive the growth of the market during the forecast period.
Technological advances in processing equipment is one of the primary market trends. The food industry witnesses constant evolution in terms of technology, machinery, and packaging. One of the major factors that contribute to the growth of the edible meat market in APAC is the introduction of novel food processing technologies, which are used by almost all key market competitors. With the use of non-thermal processing technologies, such as high-pressure processing (HPP), pulsed electric field (PEF), and irradiation, the negative impact of heat on taste and nutrition can be reduced because it occurs at lower temperatures, unlike thermal processing technologies.
Furthermore, various Asia Pacific edible meat market players are introducing a wide range of products for various functions, such as separating soft and solid protein components, further enhancing the efficiency of such products. The technological advancements in production help to produce the highest-quality ground meat that is free of bone, cartilage, and sinews and ensures the highest possible yield. Therefore, the introduction of technologically advanced processing equipment is a trend that is expected to contribute potential development of the market during the forecast period.
Increasing adoption of the vegan lifestyle is a major challenge that affects market development. Consumers in the region are adopting plant-based diets or reducing their other consumption due to health, environmental concerns, and animal welfare. As the popularity of vegan lifestyles grows, there is a shift in consumer preferences away from traditional meals. Vegan alternatives as plant-based burgers, sausages, and other substitutes, directly compete with traditional products for consumer attention and spending.
Further, the increasing investment of food companies in the research and development of innovative vegan products that can give the taste, texture, and nutritional profile of meat negatively impacts the demand. In addition, vegan food products are marketed as healthier, cruelty-free, and environmentally friendly alternatives, attracting consumers and reducing spending on such products. Therefore, the rising popularity of vegan food and the increasing vegan food consumption are expected to restrict the expansion of the market during the forecast period.
The poultry segment is poised to dominate the market, fueled by increased poultry manufacturing, expanding retail channels, and rising demand in quick-service restaurants. India and China lead the region's poultry industry growth, with Indian revenue surging over 30% in 2022-2023. Technological advancements like automated feeding and precision farming enhance efficiency. Poultry's affordability, availability, and ease of production make it a preferred protein source amid rising purchasing power. Heightened awareness of its nutritional benefits further boosts demand, amplified by the proliferation of quick-service restaurants across APAC, emphasizing its projected expansion of the market during the forecast period.
The market share by the offline segment will be significant during the forecast period. The offline distribution channel segment consists of supermarkets, hypermarkets, and wholesale shops. Many consumers in the region still prefer the traditional brick-and-mortar shopping experience when it comes to purchasing items. Consumers prefer visiting local butcher shops, supermarkets, or farmers markets, where they can physically see and choose the meat products they want to buy.
The offline segment was valued at USD 469.35 billion in 2018.
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The cultural preferences for specific cuts, specialty products, or traditional recipes that are readily available in offline distribution channels increase the demand for the offline segment in the region. The offline distribution channels encourage the personal experience of buying with custom requests, recommendations, and advice on selection and preparation. Therefore, all such factors are expected to drive the growth of the offline distribution channel segment in the Asia Pacific edible meat market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and prodchunks, mutton knucklesuct/service launches, to enhance their presence in the market forecasting growth and analysis.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Al Kabeer Exports Pvt. Ltd., Allanasons Pvt. Ltd., Charoen Pokphand Foods PCL, China Yurun Food Group Ltd., COFCO Corp., Danish Crown AS, FRESHTOHOME FOODS Pvt. Ltd., GFM Retail Pvt. Ltd., HMA Agro Industries Ltd., IB Group, Mirha Exports Pvt. Ltd., NH Foods Ltd., Tonnies Holding APS and Co. KG, Tyson Foods Inc., Vion Holding NV, and WH Group Ltd.
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research and growth forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market is dynamic, with pork and poultry meat dominating market value share. High production rates and domestic production drive sales, with governments promoting sustainable production technologies to reduce the carbon footprint. Pig farming and chicken production are significant contributors, offering affordable prices to the population. Grass-fed meat gains traction, aligning with consumer preferences for sustainable options.
The food service industry adapts to trends like the work-from-home model, offering processed and frozen forms for convenience. Red meat prices fluctuate, impacting overall revenue per person. With a hybrid model of consumption, the APAC region continues to shape global meat consumption trends, emphasizing affordability and sustainability.
APAC Edible Meat Market Scope |
|
Report Coverage |
Details |
Page number |
145 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.08% |
Market Growth 2024-2028 |
USD 161.73 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.75 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Al Aali Exports Pvt. Ltd, Al Hamd Agro Food Products Pvt. Ltd., Al Kabeer Exports Pvt. Ltd., Allanasons Pvt. Ltd., Bid Corp. Ltd., Cargill Inc., Charoen Pokphand Foods PCL, China Yurun Food Group Ltd., COFCO Corp., Danish Crown AS, FRESHTOHOME FOODS Pvt. Ltd., GFM Retail Pvt. Ltd., HMA Agro Industries Ltd., IB Group, Mirha Exports Pvt. Ltd., NH Foods Ltd., Tonnies Holding APS and Co. KG, Tyson Foods Inc., Vion Holding NV, and WH Group Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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