Health and Wellness Opportunities in the Meat Sector, 2019 Report - Market was Valued at $60.2 Bn in 2018 and is Projected to Grow at a CAGR of 2.3% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 19, 2019--The “Health and Wellness Opportunities in the Meat Sector” report has been added to ResearchAndMarkets.com’s offering.
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.
ScopeMarket overview: This section provides an overview of the overall H&W meat sector globally, including what is the current market size (2018) with projected growth over the next five years (2018-2023) and how the key categories will develop in the future. The section also highlights opportunities for manufacturers, before then presenting the growth drivers for the market and challenges faced by manufacturers/retailers. The section also outlines the changing innovative landscape of global meat sector in the H&W space with time. Regional analysis: The author has segmented the global market into six key regions- Asia Pacific, Middle East & Africa, North America, Latin America, Western Europe, and Eastern Europe. This section will first go through an analysis on key product attributes and key consumer benefits by each region in the sector, before then presenting a section on each of the regions in detail - discussing how market for H&W will grow compared to market excluding H&W during 2018-2023. It also highlights top three countries in each of the regions by market value in 2018 and the three fastest growing countries by value during 2018-2023. Category analysis: This section first provides an overview on current trends in the overall sector; in terms of ingredients, product claims, labelling and packaging and; how they will shape up in the future. The report section will then look at key trends in the top four categories by value- Chilled raw packaged meat - whole cuts, Chilled raw packaged meat - processed, frozen meat and fresh meat-counter along with product attributes, and consumer benefits driving the demand for H&W meat products. Company share analysis: This section of the report covers the market share of leading companies offering H&W meat products in 2018.
Key Topics Covered:Executive summary Market overview Global overview H&W evolution H&W analysis by region Key growth drivers and inhibitors Regional analysis Growth analysis of meat categories - H&W compared to categories excluding H&W Category analysis Key trends Growth analysis by key product attributes Growth analysis by key consumer benefits Company share analysis Leading companies by region Case studies Future outlook Appendix
Companies MentionedTyson Foods Inc. Butterball LLC Hormel Foods Corporation Maple Leaf Foods Inc. Piller`s Fine Foods
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INDUSTRY KEYWORD: HEALTH FITNESS & NUTRITION RETAIL FOOD/BEVERAGE
SOURCE: Research and Markets
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PUB: 02/19/2019 06:46 AM/DISC: 02/19/2019 06:45 AM