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Report
Asia-Pacific Poultry Meat Market - Size, Share, Covid-19 Impact & Forecasts Up To 2028
Market Report I 2023-01-23 I 120 Pages I Mordor Intelligence
The Asia-Pacific Poultry Meat Market is projected to register a CAGR of 1.19%
Key Highlights
Largest Segment by Form - Frozen / Canned : Frozen and canned poultry meat has a larger shelf life with all nutrients intact. This makes it a highly preferred meat form in the on-trade and off-trade segments.
Largest Segment by Country - China : The profound implications for animal, environmental, and economic welfare are impacting the poultry meat production and consumption in China, substituting pig consumption.
Fastest-growing Segment by Form - Processed : The increasing popularity of ready-to-eat and ready-to-cook meat to match the fast-paced lifestyle is projected to drive the demand for processed poultry meat in the country.
Fastest-growing Segment by Country - India : The increasing price-sensitive population and less preference for beef and pork with demand for protein-rich meat products are driving poultry consumption in India.
APAC Poultry Meat Market Trends
On-Trade is the largest segment by Distribution Channel.
In 2019, the sales value of poultry meat in the Asia-Pacific region increased by 12.14% compared to the previous year, while the sales volume of poultry meat increased by 8.52% from 2018. In the Asia-Pacific region, China dominated poultry meat by value, accounting for around 44% of the market share in 2021. In 2018, the African Swine Fever's (ASF) influence on pork pushed people to consume more poultry meat. Imports from Brazil, Thailand, Poland, and Russia also increased by 32% in 2019 compared to 2018, which helped lower poultry prices and increased availability. As a result, the availability of poultry meat through foodservice establishments, other off-trade channels, and other distribution channels increased.
In 2022, the on-trade sub-segment is dominating the distribution channel for the sales of poultry meat. It accounts for a value share of 22%. The Asian market is dominated by a number of hotels, restaurants, and institutions (HRI). China itself accounted for more than 9.3 million catering outlets, and this number started recording a 1.2% rise through 2021-2022. The number is also constantly rising in India and throughout Asia after the COVID-19 outbreak.
During the forecast period, the off-trade channel is projected to be the fastest-growing sub-segment for the sales of poultry meat in the Asia-Pacific region. It is expected to register a CAGR of 1.76% by value during the forecast period. Due to the COVID-19 outbreak, many consumers started demanding fresh, processed, and frozen poultry meat online and through supermarkets and hypermarkets. Even on-trade channels are shifting to hybrid models, including having an online presence, further driving the market.
China is the largest segment by Country.
In the Asia-Pacific region, the overall sales value of poultry meat increased by 12.13% in 2019 and registered a CAGR of 5.56% by value during 2016-2021. This boost was primarily due to the rising consumption of meat across the region, especially in Southeast Asia and Oceania. The staple diet of these countries includes carbohydrates and protein in the form of meat, primarily poultry. In 2020, 11 Asia-Pacific countries together produced more than a million metric ton of chicken meat, and China led the way by producing 15 million metric ton of chicken meat.
China accounted for the largest volume share in the Asia-Pacific poultry meat market in 2022. The chicken industry in China has expanded due to the severe protein shortage caused by the African swine fever outbreak. The consumption of pork fell in 2019 due to record-high prices and a surge in the popularity of chicken meat as a less expensive alternative. Chicken meat consumption may continue to expand, although at a slower rate than it did before the African swine fever outbreak.
India is expected to become the fastest-growing market in the Asia-Pacific region. It is projected to witness a CAGR of 3.61% in terms of value during the forecast period. The consumption volume of poultry in India increased by 19.8% during the review period (2016-2021). The price of poultry meat is also relatively stable and reasonable compared to other meat types. The increasing number of meat delivery companies, like TenderCuts, Meatigo, and Licious, in the country is largely contributing to the growth of poultry meat consumption.
APAC Poultry Meat Market Competitor Analysis
The Asia-Pacific Poultry Meat Market is fragmented, with the top five companies occupying 3.76%. The major players in this market are Cargill Incorporated, Inghams Group Limited, New Hope Liuhe Co. Ltd, NH Foods Ltd and Tyson Foods Inc. (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 EXECUTIVE SUMMARY & KEY FINDINGS
2 INTRODUCTION
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study?
2.3 Research Methodology
3 KEY INDUSTRY TRENDS
3.1 Price Trends
3.2 Production Trends
3.3 Regulatory Framework
3.4 Value Chain & Distribution Channel Analysis
4 MARKET SEGMENTATION
4.1 Form
4.1.1 Fresh / Chilled
4.1.2 Frozen / Canned
4.1.3 Processed
4.2 Distribution Channel
4.2.1 Off-Trade
4.2.1.1 Convenience Stores
4.2.1.2 Online Channel
4.2.1.3 Supermarkets And Hypermarkets
4.2.1.4 Others
4.2.2 On-Trade
4.3 Country
4.3.1 Australia
4.3.2 China
4.3.3 India
4.3.4 Indonesia
4.3.5 Japan
4.3.6 Malaysia
4.3.7 South Korea
4.3.8 Rest Of Asia-Pacific
5 COMPETITIVE LANDSCAPE
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Landscape
5.4 Company Profiles
5.4.1 Baiada Poultry Pty Limited
5.4.2 BRF S.A
5.4.3 Cargill Incorporated
5.4.4 Charoen Pokphand Group Co. Ltd
5.4.5 Dayong Group
5.4.6 Foster Farms Inc.
5.4.7 Fujian Sunner Development Co. Ltd
5.4.8 Inghams Group Limited
5.4.9 New Hope Liuhe Co. Ltd
5.4.10 NH Foods Ltd
5.4.11 Suguna Foods Private Limited
5.4.12 Tyson Foods Inc.
5.4.13 Wen's Food Group Co. Ltd
6 KEY STRATEGIC QUESTIONS FOR MEAT INDUSTRY CEOS
7 APPENDIX
7.1 Global Overview
7.1.1 Overview
7.1.2 Porter's Five Forces Framework
7.1.3 Global Value Chain Analysis
7.1.4 Market Dynamics (DROs)
7.2 Sources & References
7.3 List of Tables & Figures
7.4 Primary Insights
7.5 Data Pack
7.6 Glossary of Terms
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