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Fresh meats market to reach 251 million tons by 2010, says new report

by 5m Editor
13 July 2007, at 11:37am

US - A rise in disposable incomes and changing consumer preferences are key forces shaping growth in the world fresh & processed meats market. The market is projected to reach 251 million tons by the year 2010.

The industry has come a long way since 1991, when fresh meat consumption was pegged at 29,067 thousand tons. Healthy market gains will stem from Latin America, Middle East, and Asia-Pacific in that order.

Fresh & processed meats market stands enthused by the growing popularity of natural, organic, and low-fat meat, thanks to the low-carbohydrate diet fad sweeping through the industry. Steadily growing consumer demand for pre-cooked, and easy-to-prepare meat products is additionally strengthening the demand for processed meats. Innovations such as flavored sausages are expected to stimulate sales in the marketplace in the upcoming years.

Globalisation of food trends, strong economic growth, and recovery of major markets from food borne diseases, are together expected to increase world meat trade in the coming years.

Japan in the year 2006 imported 1,152 thousand metric tons of pork, and 705 thousand metric tons of beef & veal, while Russia followed distantly behind with 681 thousand metric tons of pork and 694 thousand metric tons of beef & veal. The United States, which imported just 434 thousand metric tons of pork in the year 2006, imported over 1,534 thousand metric tons of beef & veal in the same year.

On the export front, European Union exported 1,401 thousand metric tons of pork, followed by the United States and Canada with 1,206, and 1094 thousand metric tons respectively. Brazil with 1,786 thousand metric tons, was the largest exporter of beef & veal in year 2006. During the same year, United States was the largest producer of broiler meat with production averaging to 15,869 thousand tons.

Asia-Pacific dominates the world meat industry with a 39 per cent share, followed by Europe, and the United States. Asia-Pacific also ranks as the largest consumer of fresh pork, accounting for over 58 per cent share in the total global market. Fresh pork market in Europe is projected to reach 25,402 thousand tons by the year 2010. World fresh lamb & goat market is expected to grow at a CAGR of 4.2 per cent over the study's analysis period, with the market in Asia-Pacific slated to rise by 1,022 thousand tons between the period 2007 to 2010.

For further details go to: http://www.strategyr.com/MCP-2221.asp

5m Editor