Processed meat and seafood in Asia Pacific shows the second largest value size in the global market, and it has high potential to increase more as its sales per capita is still the second smallest among regions followed by the Middle East and Africa region. Consumers’ interest in processed meat and seafood is increasing in developed countries with urbanisation. In addition, new types and diverse new flavours are actively introduced in developed countries, which lead growth of the overall market.
Processed meat and seafood in Asia Pacific maintains similar value size to Western Europe. Consumers’ interest in processed meat and seafood is increasing in developed countries such as Vietnam, Indonesia and India with rapid urbanisation. Packaged products are also developed from unpackaged food culture of mom-and-pop shops in traditional retailers.
New convenient formats and diverse flavours of processed meat and seafood products are actively developed in developed countries such as Singapore, South Korea and Japan. For example, snacking formats of meat, seafood and tofu sausage are appealing to all ages of consumers as on-the-go snack products, which also impact processed meat and seafood market both positively and negatively.
In line with the rising health and wellness trend, processed meat and seafood is considered a source of high protein as a staple food. Notably, processed chicken breast is popular in Japan and South Korea targeting young female consumers. In addition, sustainable seafood is considered important in Asia Pacific, notably in Japan, in advance of the Tokyo Olympics in 2020.
While the traditional grocery channel, which still takes the largest share of sales, is falling out of favour, modern grocery retailers (ie supermarkets/hypermarkets) show strong performance with urbanisation. Internet retailing has also rapidly increased in developed countries with cold chain systems and storage facilities.
In developed countries, high consumption of healthy options and diverse flavour options will lead continuous value growth over the forecast period in Asia Pacific.
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