The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreDec 2014
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As the availability of cheaper alternatives and health and environmental concerns plague processed meat sales, remaining competitive becomes more important than ever. In this challenging environment, how well leading players engage with the tastes and demands of consumers will determine who comes out on top. This briefing assesses core company and brand strategies, and gives key recommendations for manufacturers targeting different consumer groups in different parts of the world.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
In 2014, 23% of retail sales of processed meat were private label; a share which is superseded only in ready meals, which itself is heavily reliant on processed meat. This reflects the commoditised nature of the market.
In a category so dominated by private label, it is important to gain scale and have access to reliable supply to remain competitive. Therefore, M&As should thus stay at the forefront of companies’ growth strategies.
From horsemeat and the MRSA scandal in Western Europe, to concerns regarding dead pigs in China, the meat industry has been faced with multiple food scares which have led to consumers being increasingly sceptical about meat. An increase in meat-restricted diets and ethical and environmental concerns have also hampered consumption.
Processed meat sales are expected to be driven by chilled variants across all regions in the world other than the Middle East and Africa and Australia, where frozen processed meat growth will take the lead, due to its being a more convenient option which is also perceived to be healthier and cheaper.
Strategies in marketing and product development should take into consideration the differing meat consumption rates of different countries. While provenance, convenience, segmentation and brand image might be needed in order to push growth in high meat consumption markets, consumers who have a lower rate of meat adoption might require more tangible benefits, such as health and safety, nutritional benefits, affordability and a long shelf life.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.