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Top Growth Opportunities: Meat in Canada

Top Growth Opportunities: Meat in Canada

  • March 2019
  • 92 pages
  • ID: 5751457
  • Format: PDF
  • GlobalData

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Top Growth Opportunities: Meat in Canada

Summary
Canada ranks first among the top 10 countries in the meat sector in opportunity terms, valued at US$22,063.6 million in 2018. The sector is expected to register strong growth at a CAGR of 6.2% during 2018-2023. While meat is one of the staple foods across most households in Canada, growth will predominantly be driven by rising disposable incomes especially of the millennial consumer group, which will boost sales of premium variants of meat in the country.

The Canadian meat sector is forecast to see significant growth over 2018-2023, driven by rising disposable personal incomes, which will boost consumer spending for meat products. However, with rising health awareness levels regarding the implications of consuming excessive red meat, especially with the WHO declaring such meat to be carcinogenic, consumer preferences are shifting away from beef, veal, lamb, goat, and other red meat products.

Even though the meat sector is regulated in terms of approved hormones being used in food products, the increasing wariness among consumers, with regards to hormones and antibiotics used for livestock, is boosting demand for hormone-free and organic grass fed meat.

The report "Top Growth Opportunities: Meat in Canada", provides an overview of the meat sector, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption.Recommended actions and detailed analysis helps target the best growth opportunities for meat producers and retailers.

Readers can understand what categories, channels, companies, and consumers will drive the success of meat markets in Canada.

Key Analysis

- After a period decline at a CAGR of -1.1% in US$ terms between 2013 and 2018, the Canadian meat sector will grow at a CAGR of 6.2% during 2018-2023.
- Growing economy and busy lifestyles will drive the demand for convenient meat products.
- Increasing health consciousness among consumers will boost the demand for meat products which are claimed to be free from artificial ingredients.
- Over 2018-2023, fresh meat counter will remain the highest value category, while frozen meat is forecast to be the fastest growing category during the period.

Scope
- Key consumer demographic groups driving consumption within the Canada market. Improve your consumer targeting by understanding who’s driving the market, what they want, and why?
- A study of market value and volumes over 2013-2018 for Canada, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2018-2023 period.
- White space analysis, to pinpoint attractive spaces in the market and the key actions to take.
- Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
- Examples of international and regional product innovation targeting key consumer needs.

Reasons to buy
- This report brings together consumer analysis and market data to provide actionable insight into the behavior of consumers.
- This is based on GlobalData’s unique consumer data, developed from extensive consumption surveys and consumer group tracking.
- Category, brand, and packaging dynamics are also examined.
- This allows product and marketing strategies to be better aligned with the leading trends in the market.

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