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Middle East Edible Meat Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

ReportLinker
ReportLinker

The Middle East Edible Meat Market is projected to register a CAGR of 2.13%. Key Highlights. Largest Segment by Type - Poultry : Product consistency, surge in regional production and higher protein/lower fat content are some of the major factors influencing the higher poultry consumption in the region.

New York, Jan. 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East Edible Meat Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381177/?utm_source=GNW

Largest Segment by Country - Saudi Arabia : Poultry and beef are Saudi Arabia’s choice of meat. The local regulatory bodies are encouraging local producers to boost meat production to cater to the surging demand.
Fastest-growing Segment by Type - Pork : The rise of expat population and tourism in the region is driving the demand for pork meat. Fresh and chilled pork is likely to be the fastest growing pork form in the region.
Fastest-growing Segment by Country - Bahrain : The surging demand supported by constant investments to boost the local production of edible meat is projected to drive the Bahrain market, mainly through off-trade channel.

Key Market Trends

Poultry is the largest segment by Type.

Mutton is the major red meat type consumed in the Middle East, primarily due to the increasing per capita consumption of mutton in the region, which rose by 8.48% in 2021 from 2016. Bahrain, Qatar, and Kuwait have the highest per capita consumption of mutton in the region. The rise in mutton consumption in Bahrain can be attributed to increased disposable income. The country has also seen an increase in the ex-pat population from Western and Asian nations over the last two decades, leading to a more diverse range of gastronomic preferences, including food items like hamburgers. Similarly, among red meat, consumption is primarily dominated by mutton due to the religious affiliations of Bahrain’s population.
Apart from mutton and other meat, pork is likely to be the fastest-growing meat consumed in the region, with an anticipated CAGR of 10.50% by value during the forecast period (2022-2028). The demand for pork increased in the region due to the increased ex-pat population. In 2020, 12.9% of the UAE population was Christian. Similarly, other Middle Eastern countries like Cyprus (which has a 78% Christian population), Lebanon, and Egypt have high Christian populations. This population group consumes all types of red meat, including pork, resulting in higher consumption.
Beef is the second most consumed meat in the region, and Oman has the highest per capita beef consumption, amounting to 16.28 kg in 2021. The country relies on beef imports from New Zealand, Pakistan, and the United Arab Emirates. Most fresh meat cuts available through online channels are New Zealand’s beef sirloin, topside steak, and silverside steak.

Saudi Arabia is the largest segment by Country.

Bahrain is the fastest-growing edible meat market in the Middle East, and it is expected to register a CAGR of 4.04%, by value, during the forecast period. In 2020, Bahrain witnessed an influx of around 48.9% of ex-pats from Asia and western countries, resulting in foods like hamburgers and fried chicken becoming more popular with Bahraini consumers. The edible meat segment is largely dominated by poultry, mainly due to the religious affiliation of Bahraini consumers.
In the United Arab Emirates, the poultry demand is rising. From 2018 to 2021, poultry meat registered a growth of 32.08% by value. Amid increasing global food prices, poultry remains a comparatively cheap source of animal protein in the United Arab Emirates. As of July 2021, poultry prices were 0.5% lower than last year’s and declined every month in 2021 since record high prices in 2020. As a result of lower poultry prices and a recovery in tourism, travel, and business from the impact of the COVID-19 pandemic, the demand for poultry meat increased. Consumption was registered at 441,000 metric tons in 2021 and is expected to increase in 2022.
Oman is the second fastest-growing edible meat market in the Middle East, and it is expected to register a CAGR of 3.24%, by value, during the forecast period. Oman Investment Authority supported various edible meat projects in the country to increase its self-sufficiency and expand the market. These projects reached meat self-sufficiency of 46% in 2021 from 37% recorded in the previous year, 2020. The major project launched its commercial operations and distribution of products in the local markets of the region in order to proliferate the edible meat market.

Competitive Landscape

The Middle East Edible Meat Market is fragmented, with the top five companies occupying 5.28%. The major players in this market are Al Ain Farms, Americana Foods Inc., BRF S.A., Sunbulah Group and Tanmiah Food Company (sorted alphabetically).

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06381177/?utm_source=GNW

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