The global poultry meat market is expected to post a CAGR of about 4% during the period 2019-2023, according to the latest market research report by Technavio
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Technavio has published a new market research report on the global poultry meat market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global poultry meat market is the increasing import and export of poultry meat. Various countries have increased the import of chicken meat in recent years. For instance, Japan, Mexico, Saudi Arabia, China, and Iraq were some of the key importers of chicken meat during 2018. In addition, there has been a significant increase in the import of chicken meat from emerging economies including Philippines owing to the rising demand for chicken meat among the consumers. Therefore, the rising export of chicken meat from economies including the US and Brazil will boost the demand for poultry meat in the forthcoming years.
As per Technavio, the development of clean meat will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global poultry meat market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global poultry meat market: Development of clean meat
Poultry meat market is likely to witness considerable growth due to the rising development of clean meat. Various companies are developing clean meat in labs using cell technologies that do not involve animal slaughter. Some poultry meat manufacturers had announced plans to launch cell-based chicken meat by the end of 2018. These market players are engaged in developing meat from cells grown outside an animal in a plant-based growth medium. Thus, the rising demand for clean meat, will boost the market growth of poultry meat in the forthcoming years.
"Companies in emerging economies including India are also undertaking several initiatives to develop clean meat products from poultry cells without indulging in animal slaughter. The global poultry meat market is also witnessing an increase in investments to cater to the increase in demand for poultry meat. The increasing investments in the poultry meat market will help players to expand their production capabilities and strengthen their global presence," says a senior research analyst at Technavio.
Global poultry meat market: Segmentation analysis
This market research report segments the global poultry meat market by product (chicken meat, turkey meat, duck meat, and others) and geographic regions (APAC, North America, South America, Europe, and MEA).
APAC led the market in 2018, followed by North America, South America, Europe, and MEA, respectively. The market growth in APAC can be attributed to factors including increasing health awareness, expanding fast-food chains, and convenience offered by processed meats.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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