Market Research Report
US Meat & Poultry Product Market, By Products (Pork, Poultry, Beef & Veal, and Lamb), By End Use (Fresh & Frozen and Processed) - Analysis, Share, Trends, Size, & Forecast From 2014 - 2025
|Published by||AnalystView Market Insights||Product code||874753|
|Published||Content info||102 Pages
Delivery time: 2-3 business days
|US Meat & Poultry Product Market, By Products (Pork, Poultry, Beef & Veal, and Lamb), By End Use (Fresh & Frozen and Processed) - Analysis, Share, Trends, Size, & Forecast From 2014 - 2025|
|Published: June 1, 2019||Content info: 102 Pages||
The US meat & poultry product shipment totaled USD 203.8 billion in 2017, growing with 4.2% CAGR during the forecast period, 2018-2025.
A steadily rising population and the dietary requirement for protein confer stability to the US market for meat and poultry products. Furthermore, beef and poultry are staples of ubiquitous fast food restaurants due to factors such as ease of preparation and low cost. US producers also benefited from a predominantly urbanized population and the fact that domestic market penetration by foreign firms is limited in most categories, owing to factors such as high costs of transporting these products and food safety concerns. At the same time, the US meat and poultry industry exerts its influence throughout the world, bolstered by abundant resources for raising animals and a reputation for quality among many international consumers.
Beef & Veal segment accounted for significant revenue share owing to the rising product demand. Also, pork products is estimated to grow with promising growth rate over the study period. Persistent demand growth in many export markets will support rising shipment of this products. As an additional boost, South Korea began phasing out existing tariffs on pork product imports in 2014, with all such tariffs slated for elimination by 2021. Ractopamine - a growth hormone that is often included in US animal feed - is banned in many countries, impeding US meat exports.
Over the forecast period, increased levels of consumer spending and a trend toward convenience food will drive sales of higher-cost, value-added products in the Fresh & Frozen and Processed categories. While fresh meat and poultry is broadly considered healthier than processed varieties, the latter are generally less expensive and more conducive to on-the-go consumption.
Barriers to entry are relatively low for small companies that sell meat and poultry products locally, because small-scale operations do not require using expensive processing equipment. Companies are actively engaged in strategic merger and acquisition to expand their market presence. For example, in March 2017, JBS announced that it was acquiring Plumrose USA, a US-based producer of bacon, ham, and deli meat. The acquisition aimed to expand company's product portfolio and brand offerings as well as its customer base and geographic distribution in the country.
The market size and forecast for each segment and sub-segments has been considered as below:
The scope of this report covers the market by its major segments, which include as follows: