Due to the increased demand from the BRICS region, the global meat market is expected to grow
Mumbai, India – June 17, 2014 - Expected to grow annually at almost 4% and reach USD 640 billion in 2015, the global meat market report states that chilled and processed meat accounts for 45% of the total global meat market share. The fresh meat market is expected to hit 300 million ton mark in production by 2015. The factors attributed to this growth are primarily a rising global population, market recovery from diseases like avian flu as well as increased urbanization. Asia Pacific has been cited as one of the key markets, where demand for meat consumption is high owing to its strong economic growth and increased disposable income among the youth.
This report: Global Meat Market: Merger and Acquisitions April 2014 provides a review of the mergers and acquisitions (M & As), partnering deals, and agreements entered into by companies active in the global meat market during March 2014. Previously the meat industry had suffered severely due to diseases like avian flu, leading to the ban of imports of some meat products in major markets. However, with these diseases being taken care of the meat market has been flourishing. Currently, pork meat leads the meat market with poultry, beef and veal closely following.
The demand for beef is speculated to continue to rise especially due to its high protein content. The biggest suppliers of cattle include US, India, China, Argentina and Brazil. Study of the meat market further states that the beef market growth has primarily been because of the increase in disposable income which has led to more and more consumers opting for meat with a higher health quotient. Strong demands from North Africa, South East Asia, and Middle East are further driving the growth of the market. Of the emerging markets, India is expected to knock US from the third place in terms of beef exporters especially with its competitive pricing strategies and rising supplies. The US beef industry, on the other hand, has slowed down because of their fall in production. Russia, in the APAC region, continues to dominate as the world’s top beef importers.
The meat market report noted another significant trend - consumers today prefer free range, grass fed and organic products. Consequently, the demand for beef and veal is expected to continue to grow, with Argentina, Brazil and India making up for the falling US demand. With India’s cattle production remaining strong, the US production is expected to fall by another 5%. The shifting demand demographics is also expected to open up opportunities for startups and new ventures in the global meat market.
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