New York, April 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Meat, Poultry And Seafood Global Market Report 2023" - https://www.reportlinker.com/p06284453/?utm_source=GNW
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The global meat, poultry and seafood market grew from $1,505.1 billion in 2022 to $1,617.36 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The meat, poultry and seafood market is expected to grow to $2069.85 billion in 2027 at a CAGR of 6.4%.
The meat, poultry and seafood market consists of sales of pork meat, mutton meat, beef meat, chicken meat, turkey meat, ducks meat, crustaceans meat, fish meat, and other meat.The meat, poultry and seafood industry includes establishments engaged in animal slaughtering and processing, poultry processing and seafood product preparation and packaging.
The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
Meat, poultry, and seafood meat are defined as meat products that are slaughtered and used for human consumption by processing and preserving by smoking, salting, fermenting, or adding any chemicals.
Asia-Pacific was the largest region in the meat, poultry and seafood market in 2022.Western Europe was the second-largest region in the meat, poultry and seafood market.
The regions covered in the meat, poultry and seafood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of meat, poultry, and seafood are meat products, poultry, and seafood.Meat is the edible part of something or the flesh of a mammal that can be consumed.
The different distribution channels include supermarkets/hypermarkets, convenience stores, e-commerce, and other distribution channels and are found in different natures, such as organic and conventional.
The world’s population is growing and is expected to reach 10 billion by 2050.An increase in the population creates more demand for food.
According to "The Agricultural Outlook" by the OECD and FAO, global cereal production is projected to increase by 13% by 2027.Crop production, farming activities, and trade volumes will have to increase in order to meet the increased population.
Therefore, companies in this market are expected to benefit from rising demand for meat, poultry, and seafood products due to the rising population during the forecast period.
The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the meat, poultry, and seafood markets in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia.Food and beverage manufacturers depend on the supply of raw materials from domestic and international suppliers.
As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials.Also, restrictions on the trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline.
The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the meat, poultry, and seafood markets will recover from the shock across the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Poultry processing companies are increasingly using 3D imaging systems to optimise yields. 3D imaging systems model the poultry bird using sensors and actuators to determine the position of the cut. The bird is put under the vision system, which takes the images and measurements, and the geometry is determined. Near-infrared sensors determine the amount of meat and bone present in the bird. Vision analysis enables the system to perform optimal cuts for each bird regardless of its size and shape. It is a data-driven process that maximises the yield and minimises the per unit cost for poultry meat processing. Major companies involved in pioneering this technology include Gainco, a meat and poultry equipment manufacturer, and Midwest Machine LLC.
The countries covered in the meat, poultry and seafood market report are Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The meat, poultry, and seafood research report is one of a series of new reports that provides meat, poultry, and seafood statistics, including meat, poultry, and seafood industry global market size, regional shares, competitors with meat, poultry, and seafood share, detailed meat, poultry, and seafood segmentation, market trends and opportunities, and any further data you may need to thrive in the meat, poultry, and seafood industry. This meat, poultry, and seafood research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06284453/?utm_source=GNW
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