Major companies in the meat products market include Affco Holdings Limited; Andelsselskabet Tican A. M. B. A; Arcadie Sud Ouest; Arrow Group Limited and Doux S. A. The global meat products market is expected to grow from $838.
New York, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Meat Products Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018872/?utm_source=GNW
25 billion in 2020 to $867.26 billion in 2021 at a compound annual growth rate (CAGR) of 3.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1157.55 billion in 2025 at a CAGR of 7%.
The meat products market consists of sales of meat products by entities (organizations, sole traders and partnerships) that produce and process pork, beef, sheep and goats, birds, and other animals. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments. The meat products market is segmented into pork; mutton; beef and other meat products.
Asia Pacific was the largest region in the global meat products market, accounting for 52% of the market in 2020. North America was the second largest region accounting for 22% of the global meat products market. Africa was the smallest region in the global meat products market.
Meat processing companies are adopting robotics and automation technology to maximize production efficiency. Robotic systems automate deboning, cutting, butchering, and monitoring processes in meat production. This decreases cycle times and increases throughput. Automation enables meat processing companies to improve plant conditions, reduce contamination, and makes meat processing safer for workers as well as consumers. Robots can help manufacturers in transferring a wide range of meat and sausages from conveyor belts to trays at a rate of up to 240 cycles per minute. Plants with fixed automation systems increase yields by at least 2-3% over workers. For example, Image-Meater from CSB is a special hardware and software solution which fully classifies the sides of the pork automatically into different quality levels. Also, JBS, world’s largest meat processor, has acquired a majority stake in Scott Technology Ltd., a leading robotics manufacturer, to automate its meat processing plants to capitalize on the growing demand for automation in meat processing plants.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the meat products manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Food and beverage manufacturers depend on supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to lack of raw materials. Also, restrictions on trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the meat products manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
World population is growing and is expected to reach 10 billion by 2050. Increase in population creates more demand for food including meat products. According to “The Agricultural Outlook” by the OECD and FAO, global cereal production was projected to increase by 13% by 2027. Crop production, farming activities and trade volumes will have to increase in order to meet increased population. Therefore, companies in this market are expected to benefit from rising demand for meat products due to rising population, during the forecast period.
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