Processed Meat and Seafood in Asia Pacific

January 2019

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.

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Key Findings

There is more potential to increase as market develops with urbanisation in developing countries

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.

Development of new concepts attracts consumers in developed countries

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.

Health and wellness trend continues for consumers and environment

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.

Modern groceries show stronger performance than largest traditional retailers

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.

Diversification will lead value growth over the forecast period

In developed countries, high consumption of healthy options and diverse flavour options will lead continuous value growth over the forecast period in Asia Pacific. 


Key findings

Regional Overview

Putting Asia Pacific into context
Overall market is expected to grow by developing countries stretching
Japan and China, the two powerhouses in processed meat and seafood
Convenience and urbanisation are key factors boosting market growth
Meat substitutes in China leads to growth in overall value market size
Chilled and frozen formats show better performance than shelf stable
Nutrition benefits, new flavours and consumption convenience boost sales
Convenience stores benefit from more convenient product formats
Modernisation in grocery retailing accelerates in Asia Pacific
Smaller players support market growth in developing countries
Consolidated competitive landscape for processed seafood players
“Others” records better performance, helping market to increase

Leading Companies and Brands

Generics remains clear leader despite facing declining share
Local companies maintain leading positions in their respective markets
While Chinese brands holds top ranking, Japanese brands climbing

Forecast Projections

Japan and China lead continuous value growth of processed meat
Japan is expected to decline, impacting the wider Asia Pacific market
Meat substitutes looking forward with increased focus on China
Processed meat and meat substitutes continue to grow
Eating habits preferring convenience strongly affect the market
Consumer awareness and product variety strongly affect market growth

Country Snapshots

Japan: market context
Japan: competitive and retail landscape
China: market context
China: competitive and retail landscape
South Korea: market context
South Korea: competitive and retail landscape
Philippines: market context
Philippines : competitive and retail landscape
Indonesia: market context
Indonesia: competitive and retail landscape
Kazakhstan: market context
Kazakhstan: competitive and retail landscape
Thailand: market context
Thailand: competitive and retail landscape
Malaysia: market context
Malaysia: competitive and retail landscape
Azerbaijan: competitive and retail landscape
Azerbaijan: competitive and retail landscape
Taiwan: market context
Taiwan: competitive and retail landscape
Hong Kong, China: market context
Hong Kong, China: competitive and retail landscape
Vietnam: market context
Vietnam: competitive and retail landscape
Singapore: market context
Singapore: competitive and retail landscape
India: market context
India: competitive and retail landscape

Appendix: Competitor Analytics

Competitor Analytics tool
Market Overlap
Overlap Matrices

Appendix: Industry Forecast Model

About Euromonitor International’s Industry Forecast Model
Soft drivers and the Industry Forecast Model
Growth decomposition explained
Significance and applications for growth decomposition
Key applications for Industry Forecast Models


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