What Are the Current Trends in Protein Sources?
The landscape of protein markets is observing a shift, primarily driven by the increasing consumer awareness regarding health and environment, which is influencing their dietary preferences. Lean meat and poultry products are witnessing a rise in demand due to the nutritional benefits they confer. There is a higher propensity towards locally sourced, organic, and antibiotic-free options. Moreover, innovation through value-added products, such as ready-to-eat and prepared meat that fit in the fast-paced lifestyle of consumers, shows mounting traction.
What Opportunities Exist in This Sector?
Multifaceted opportunities have emerged within the sector. An observed rise in global population and a higher proportion of the middle-class segment with increased purchasing power are likely to maintain steady demand growth. Especially in developing economies, meat consumption is viewed as a symbol of prosperity, leading to a steady increase in demand. Additionally, strong regulations and guidelines imposed on production processes can ensure quality and consumer trust, ultimately creating more potential for growth.
How Does the Future of Industry Look?
Looking ahead, the industry could experience further segment expansion due to technology advancements and increased vertical integration. Industry 4.0 could reshape production processes to boost efficiency and sustainability. Nevertheless, potential market risks, such as disease outbreaks or trade barriers, cannot be neglected. Notwithstanding these risks, advancements in alternative proteins like lab-grown meat, plant-based proteins, or insects are likely to compete with conventional protein supplies, potentially disrupting the market dynamics.
Key Indicators
- Global Meat Consumption
- Global Poultry Consumption
- Global Production Rates
- Livestock Feed Costs
- International Trade Flows
- Supply Chain Efficiency
- Industry Technological Advancements
- Meat and Poultry Price Trends
- Government Policies and Regulations
- Consumer Dietary Trends
Key Trends
- Increasing Preference for Antibiotic-free Products
- Rise in Demand for Halal Certified Meat
- Growing Consumer Interest in Grass-fed Meat
- Shift Towards Organic Meat Products
- Innovation in Meat Processing Technologies
- Regulatory Changes Affecting Animal Welfare
- Introduction of Lab-Grown/Cultured Meat
- Upsurge in Adoption of Plant-Based Meat Alternatives
- Increasing Meat Exports and Global Trade Relations
- Growing Concerns Over Greenhouse Gas Emissions From Livestock