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Veal Market Product Type (Fresh Veal, Processed Veal) Grade (Prime, Choice, Good, Standard, Utility) Distribution Channel (Online, Offline) : Global Opportunity Analysis and Industry Forecast, 2020-2027

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Dec 2020 | 152 Views
 
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Veal is referred to the meat product obtained from the calves and is similar to beef that is obtained from old cattle. It is obtained from young domestic dairy calves that do not produce any milk and are not used for beef. It has been produced and consumed from ancient times in the Italian, Mediterranean, and French cuisines. The bull calves are mainly used for its production and the quality of veal depends on the feeding method and health of the animal. The feeding methods determine thetype, color, texture, and taste of the veal produced such as milk-fed veal, grain-fed veal, and free raise veal. The price of the veal is comparatively higher than beef and is available in variants such as bob-veal, formula-fed veal, non-formula fed veal, rose veal, young beef, pasture-raised veal, and others.

Market scope and structure analysis:

                      Report Metric

                                                        Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

 Forecast units

  Value ($US)

  Segments covered

  Product Type, Grade, Distribution Channel, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

  Companies covered

JSB USA Holdings Inc., Claus German Sausage & Meat, Strauss Brands Inc., Cargill Meat Solutions Corp., Wilson International Frozen Foods Ltd., Tyson Foods Inc., SYSCO Corp., Smithfield Foods Inc., American Foods Group LLC, Hormel Foods Corp.

 

COVID-19 Scenario Analysis: 

  • The lockdown caused due to the coronavirus pandemic has highly affected the veal market, as the slaughterhouses have faced a shortage of manpower and the availability of fresh veal has lowered down affecting the sales and revenue of the veal market.
  • The disruption of the supply chain has created a problem in the procurement of raw material for various processed veal products due to the restriction in transportation.
  • The fall in the prices of veal in the market has led to the loss of veal manufacturing industries. 
  • The change in consumer buying patterns and requirements for the healthy products due to the spread of the virus, considered to be originated from meat products, anticipates causing a slowdown in the veal market.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

According to the United States Department of Agriculture Food Safety and Inspection Service, veal calves are generally raised until 16 to 18 weeks of age and weigh around 450 pounds, and different varieties have different considerations of age and weight. They are raised in modern environmentally controlled barns and are provided with the required milk replacer diet for a better quality of meat. The increased demand for meat and meat products, regulated health and feeding system of the calves, increased nutritional value, prevention of chemicals and antibiotics in the feed of the animal, increased production of processed products of veal, investment in R&D, an inspection of animals by regulatory organizations, and increased palatability of the veal are the key drivers which lead the growth of global veal market. However, availability of substitute meat products, a higher price than beef, increased animal rights and animal safety organizations, traditional beliefs, government regulations, increasing foodborne diseases, health problems caused due to the products, food additives in the natural product, and availability of meat-substitutes hinder the market growth.

The global veal market trends are as follows:

The surge of veal market

The surge in technology and innovation has led to the development of methods such as artificial insemination that has increased the calves which can be used for the production of veal. The consumption of veal has grown at a residential level along with the commercial use for producing processed products such as sausages and frozen products. The products such as rib roast, loin, cutlets, arm/blade streak, round streak, boneless breast, cross-cut shanks, stew meat, ground patties, and others are mainly available as types of veal product. It is separated into 7 major cuts such as leg (round), sirloin, loin, rib, shoulder, foreshank, and breast; whereas graded under categories such as prime, choice, good, standard, and utility. Veal is classified as red meat but the veal carcass generally has a grayish pink or grayish red color. USDA has also regulated guidelines for handling, storage, and cooking of veal to make it fit and safe for consumption as well as to prevent certain diseases caused by the foodborne organisms such as Escherichia coli and Salmonella. Veal is considered to be a good source of protein, vitamin B6, vitamin B12, vitamin B3, riboflavin, zinc, niacin, selenium, and others.

The key producers of veal such as JBS USA and Claus German Sausage & Meat are inclined towards sustainable production by focusing on animal care and food safety. The standard operating procedures, process improvement, animal welfare, and better product quality are being highly implemented. Organizations such as the American Veal Association (AVA) regulate and represent the members engaged in the veal market.

Key Segments Covered:

                 Segments

                                              Sub-segments

  Product Type

  • Fresh Veal
  • Processed Veal

  Grade

  • Prime
  • Choice
  •  Good
  • Standard
  • Utility

  Distribution Channel

  • Online
  • Offline

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the global veal 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 a detailed analysis of the global veal market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global veal market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides detailed global veal market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Veal Market Research Report:

  • What are the leading market players active in the veal market?
  • What the 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?
 
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