Global Meat & Poultry Industry
The world market for meat, fish, and poultry is predicted to grow at almost 4% a year to reach nearly $640 billion in 2015, according to MarketLine. Chilled meat and fish/seafood products are the leading product segments in the industry, accounting for sales in excess of $236 billion, or 45% of the global market.
The world’s fresh meat market is expected to hit the 300-million ton mark by 2015, reports Global Industry Analysts. Market drivers include rising population, market recovery following setbacks due to diseases such as the avian flu, and greater levels of urbanization. Asia-Pacific is a leading region in meat consumption, where demand is rising due to strong economic growth and higher incomes.
Meat retail expansion is reliant on distribution systems, affordable transportation costs, urbanization, with subsequent construction of supermarkets and hypermarkets, effective disease control, and good slaughter facilities. As health conscious consumers in the West turn to vegetarian diets, meat demand is slowing. This is offset by rising demand in Asia-Pacific, which is followed by North America and the EU in terms of consumption.
The meat industry has suffered due to diseases such as foot and mouth disease and avian flu, with imports of some products being banned in major markets. Pork meat leads the meat market, with poultry, beef and veal following. The biggest producers of cattle include the US, China, India, Argentina and Brazil.