Originally published on Technavio:APAC Edible Meat Market Analysis: Forecast and Analyst 2024-2028
The projected growth of the APAC edible meat market is USD 161.73 billion, with a Compound Annual Growth Rate (CAGR) of 5.08% between 2023 and 2028.
In 2023, the offline segment in APAC led the market with its personalized shopping experience, direct interaction, and trust. Offline channels, such as supermarkets and local butcher shops, cater to cultural preferences, offering customization and traditional products. Consumers value the convenience and personal touch, driving consumption trends. According to 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, including processed buffalo, frozen, halal, and boneless.
Market Growth Analysis Driver
The key factor driving market growth is the rising awareness of high sources of nutrition. Consuming food products such as poultry provides necessary nutrients, including proteins, vitamins (B12, B6, hydrophilic, and niacin vitamins), minerals (iodine, iron, phosphorus, copper, and zinc), and omega-3 fatty acids (DHA and EPA). These nutrients offer benefits such as weight management, cognitive function improvement, and Alzheimer's disease prevention.
Moreover, minerals and other nutrients present in these products contribute to brain growth and development. The demand for such products is expected to increase during the forecast period due to the associated health benefits. Thus, the rising awareness of high sources of nutrition will drive market growth during the forecast period.
Market Growth and Trends
One of the primary market trends is technological advances in processing equipment. The food industry experiences constant evolution in technology, machinery, and packaging. The introduction of novel food processing technologies, such as high-pressure processing (HPP), pulsed electric field (PEF), and irradiation, contributes to the growth of the edible meat market in APAC. These non-thermal processing technologies reduce the negative impact of heat on taste and nutrition, occurring at lower temperatures than thermal processing technologies.
Various Asia Pacific edible meat market players introduce a wide range of products, enhancing the efficiency of soft and solid protein components' separation. Technological advancements in production help produce high-quality ground meat free of bone, cartilage, and sinews, ensuring the highest possible yield. Therefore, the introduction of technologically advanced processing equipment is a trend expected to contribute to potential market development during the forecast period.
Market Challenge
A major challenge affecting market development is the increasing adoption of the vegan lifestyle. Consumers in the region adopt plant-based diets or reduce 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, such as plant-based burgers and sausages, directly compete with traditional products, impacting consumer attention and spending.
Furthermore, food companies' increasing investment in the research and development of innovative vegan products negatively impacts demand. Vegan food products are marketed as healthier, cruelty-free
Market Segmentation by Product
The poultry segment is poised to dominate the market, driven 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 market expansion during the forecast period.
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The market share by the offline segment will be significant during the forecast period. The offline distribution channel segment includes supermarkets, hypermarkets, and wholesale shops. Many consumers in the region still prefer the traditional brick-and-mortar shopping experience when purchasing items. Consumers visit local butcher shops, supermarkets, or farmers' markets, where they can physically see and choose meat products.
Edible Meat Market in APAC Size
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