Rising number of retail outlets in developing economies is expected to boost retail sales
Added: (Wed Jun 12 2019)
Pressbox (Press Release) -
The world prepared meat market is estimated to expand at a CAGR of 8.4% between 2016 and 2024. The market was expected to be US$760.7 million in 2015 and is anticipated to rise to a valuation of US$1.5 billion by the end of 2024. The world processed meat market is estimated to witness decent growth in the future period; thanks to the surge in need for easy-to-eat food. This could, in turn, result in growth in the manufacturing sector; mainly in Asia-Pacific region owing to initiatives such as “Made in China” by the Chinese government and “Make in India” by the Indian government.
Market Drivers and Restraints:
Retail is the dominating distribution channel for the products of processed meat. Modern grocery retailers like hypermarkets, supermarkets, and convenience stores are by far the most prominent channels for the distribution of processed meat. Traditional grocery retailers like independent small grocers are also propelling the expansion of the distribution channel for processed meat. A rising number of retail outlets in developing economies is estimated to boost retail sales of processed meat over the future years.
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Report segmented as:
Frozen processed meat
By Distribution Channel:
Supermarkets and Hypermarkets
Local retail stores
Through fast-food restaurants
Based on geography, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the dominating market accounting for the largest share of the market. Asia is the prospective market majorly because of the augmented demand for high growth for protein value growth in organized trade. China and Brazil are firmest expanding countries in the region.
Important market players:
The dominating players in the market are Almunajem, Gulf Food Industries, Cargill Inc., Tyson Foods, BRF S.A., Sunbulah Group, Al Islami Foods, and National Food Co. (American Meat). The top four players, Al Islami Foods, National Food Co., Sunbulah Group, Almunajem, Gulf Food Industries, and BRF SA, accounted for a share of approximately 35% in 2015.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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