Market Research Report
Health and Wellness Opportunities in the Meat Sector
|Published by||GlobalData||Product code||783299|
|Published||Content info||77 Pages
Delivery time: 1-2 business days
|Health and Wellness Opportunities in the Meat Sector|
|Published: January 21, 2019||Content info: 77 Pages||
The global H&W market for meat was valued at US$60.2 billion in 2018, and is projected to grow at a CAGR of 2.3% during 2018-2023. Rising prevalence of lifestyle diseases, growing health awareness, and increasing consumer purchasing power are the main factors driving the market. H&W meat products are primarily marketed with health claims such as reduced fat and natural.
The H&W market is expected to display a CAGR of 2.3% during 2018-2023, lower than 3.3% CAGR seen in meat excluding H&W. The current penetration of health & wellness in the meat sector, however, remains lower at 6%, although growing interest in healthy eating habits and rising interest in products with health claims bodes well for growth in the market going forwards. Chilled raw packaged meat - whole cuts, chilled raw packaged meat - processed, and frozen meat are the key contributing categories, while cooked meats - packaged and ambient meat represent the fastest-growing categories through 2018-2023.
The H&W attributes that play pivotal roles in shaping the demand for meat products worldwide are 'food minus' and 'naturally healthy'. Meat products with 'food minus' claims garnered sales of US$31.9 billion in 2018, while products with 'naturally healthy' claims garnered US$26.7 billion in the same year. In terms of consumer benefits, 'weight & shape management' and 'general wellbeing' were the most popular with market value of US$31.3 billion and US$26.7 billion, respectively, in 2018.
North America led the global H&W meat sector in 2018 with a market size of US$51.7 billion, representing approximately 86% of the global market. The US represents the single largest market for H&W meat, with sales valued at US$50.2 billion in 2018, accounting for 97% of regional sector sales. Higher disposable incomes, more health awareness, greater availability of products, and superior adoption from consumers led to higher H&W meat sales in North America. Western Europe was the next largest regional market with value shares of 9.8% in 2018. However, Eastern Europe is projected to emerge as the fastest-growing regional market for H&W meat worldwide with a CAGR of 4.1% over 2018-2023.
The report "Health and Wellness Opportunities in the Meat Sector", brings together multiple data sources to provide a comprehensive overview of the global health & wellness (H&W) meat sector.
Companies mentioned: Tyson Foods, Inc., Butterball, LLC, Hormel Foods Corporation, Maple Leaf Foods Inc., Piller`s Fine Foods.
This report brings together multiple data sources to provide a comprehensive overview of the global health & wellness (H&W) meat sector. It includes analysis on the following -