Processed beef is natural, healthy also as sustainable thanks to which the consumption of processed beef is rising rapidly. Millennial prefer ready-to-eat food products thanks to their busy lifestyles. The population of individuals living far away from their home for education and employment is increasing across the planet. Due to their busy lifestyles, consumers prefer nutritious, healthy, organic, and affordable able to eat products. This has successively spurred the demand for processed beef. Health-conscious consumers prefer meat products as they're rich source of proteins, vitamins, minerals and help to develop muscle.
COVID-19 Impact analysis
- During Covid-19, a big number of consumers have shifted to a vegan diet in response to the fear of transmission of virus. Due to this the players are expected to register a big drop by demand. However, historically the marketplace for meat has revived within a brief duration after any outbreaks like HPAI, swine-flu, and bird-flu.
- The marketplace for packaged meat is going to be the source of major earnings during this era. However, with shortages in supply, many market will face a drop by production. The market is poised to recover after the third quarter in 2020 due to the consumers’ shift toward their regular work life balance and due to festival seasons.
- Under a probabilistic approach, the market is predicted to face the impact of COVID-19 till the fourth quarter of 2020. Going by the pessimistic approach, the market is anticipated to reel under the negative impact of COVID-19 for the primary two quarters of 2021. Companies are adding new promotional strategies like heavy discounting and refinements in processed meat products
Top Impacting Factors
- Frozen meat is witnessing swift advancements related to freezing techniques like rapid freezing and cryogenic freezing to increase the lifespan of meat products with no compromise on quality. The market of frozen processed meat is predicted to get an absolute opportunity.
- Moreover, processed frozen meat enables exporters to ship meat across larger distances, due to its enhanced life-span. The emerging countries are the largest consumer of frozen meat.
- The adoption of a fast-paced life has initiated a replacement trend of nutriment consumption. Longer working hours leaves limited time for young adults to possess a home-cooked meal. As a result modern retailers are witnessing the expansion of packaged processed food items among high net worth income individuals.
Growth in sales of packaged food
Packaged food sales are growing as modern retail expands supported by developing cold chain infrastructure for fresh, chilled and processed foods. Globally, chilled processed beef products are benefitting directly from stronger consumer demand for a healthy diet and improving cold-chain systems. In Asia Pacific, since most chilled processed beef products are Western-style products and dishes, they're generally positioned as premium products with higher unit prices.
E-commerce is gaining traction across the world, as more consumers order groceries and other food products via smartphone apps. Multiple e-commerce platforms within the country are competing to expand their market footprint by launching their own food brands. Given the scenario, processed beef product sales through e-commerce is predicted to realize rapid momentum within the near future.
Surge in consumption of frozen foods
The demand for frozen processed beef is increasing rapidly across the world. Consumers round the world have an interest in buying frozen foods products thanks to the convenience factor related to them. Manufactures of beef are adapting freezing technique because it improves the time period also because the quality of the meat products. Consumers are getting cautious about the standard, sustainability, and staple utilized in the assembly of outcome. Due to its sustainability and top quality, the demand for frozen processed beef is increasing rapidly.
The demand for processed beef is increasing because of the health benefits related to it. The processed beef helps in reducing the danger of chronic diseases and it strengthens the system. Processed beef helps in reducing the deficiency of iron. Health-conscious consumers prefer processed beef in their daily diet because it is rich source of proteins, vitamins and minerals. It helps to enhance the muscle mass and to scale back the load.
Key Benefits of the Report
- This study presents the analytical depiction of the processed beef industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the processed beef market share.
- The current market is quantitatively analyzed to highlight the processed beef market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed processed beef market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Report
- Who are the leading market players active in the processed beef market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is " processed beef " Market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the " processed beef " Market?
Processed Beef Market Report Highlights
Key Market Players
Smithfield Foods Inc., JBS SA, Tyson Foods Inc., Danish Crown A/S, Harim Co Ltd, SYSCO Corp, Cargill Meat Solution Corp., WH Group, BRF SA, Hormel food