Poultry processing involves different methods of preparation of meat for human consumption. Poultry is one of the most common and popular types of consumable animal protein, which is majorly, sourced from chicken and turkey, geese, pigeons, emus, ostriches, pheasants, quails and other farm raised birds. Global processed poultry meat market is expected to maintain steady growth with consistent demand for the poultry products from across the world.
Processed Poultry Meat Industry – An Overview
Poultry is one of the most flourishing businesses in the recent times. The business has gained great momentum during the last few decades, thanks to continual demand and investments within the industry. Wide range of factors influence the poultry processing industry, which include the trends, opportunities, challenges, restrains, and growth of the industry. Analysis of all the segments in the global processed poultry meat market provides better insight about the current happening in the industry.
Basic segments in the processed poultry meat market are based on the types of meat, products, equipment, and demand for these products across different geographic regions. As mentioned before, chicken, turkey, and ducks are the three major sources of poultry meat. Products segment in the industry include fresh processed, precooked, cured, raw-cooked, dried, and other processes. Different equipment and processes are used in the industry, which include killing and defeathering, evisceration, skinning and deboning, tumbling and marinating, cut-ups, preservation, and other methods. Geographically, the market is categorized into Asia, Europe, North America & rest of the world.
Increasing investments within the industry and research and development activities are driving the global processed poultry meat market at a steady CAGR. According to the experts, the industry will maintain stable growth rate of over 5.9% from 2012 to 2018. At the projected CAGR, the market will grow from $ 2,667.0 million in 2012 and reach past $250,949.5 million by the end of 2018. Focus towards low cost production techniques within Europe and other developed regions are driving the industry. Developed regions like North America and Europe are expected to dominate the global market during the forecasting period.
In terms of demand, Pace of development in the emerging regions like Asia Pacific, Latin America, and African countries is concerning the key companies in the market. Lack of financial backing to afford high functioning meat processing equipment is the major reason for the slow pace in these regions. However, as mentioned before European efforts of developing low cost processing equipment is creating better opportunities for these regions in the processed poultry meat market.