Consumption of processed meat and seafood had declined marginally over the review period, partly due to quite high average unit price increases in 2016/2017 and also as some consumers began to cut back on their consumption of these products due to their often highly processed nature and high salt content. However, these products offer convenience and relatively long shelf lives, particularly in their frozen formats.
Although many consumers are opting for healthier diets, including reducing the volume of sodium and fat consumed or reducing the frequency of meat eating during the week, processed meat and seafood remains relevant in Brazil as a practical solution for those with little time to cook. As more consumers have been working permanently from home during the COVID-19 epidemic, and therefore cooking at home for the family, the convenience of processed meat and seafood is trumping these health concerns for many consumers.
Meat substitutes recorded strong increases in consumption over the review period and this is set to accelerate during the COVID-19 pandemic. Although these products remain in their infancy in Brazil, meat substitutes enjoyed much media attention towards the end of the review period due to the intensity of new product releases.
Processed meat and seafood is set to continue to record good retail volume growth in 2021 and over the rest of the forecast period. Even so, the performances of the various products within this area are set to be mixed going forward, with shelf stable processed red meat and poultry continuing to decline in popularity.
Meat substitutes is set to witness one of the highest levels of innovation within processed meat and seafood in 2020, despite the pandemic and the consequent economic crisis. Fazenda Futuro Produtos Alimentícios, for example, expanded its portfolio with a vegan sausage made of peas, soy and chickpea protein, as well as beet to provide an authentic colour.
It is likely that many Brazilians will continue to work from home going forward after the global success of this model during the COVID-19 pandemic, with remote working systems and teleconferencing having proved their worth during the crisis. This will lead to many having breakfast and snacks at home rather than when on the go or at work.
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Understand the latest market trends and future growth opportunities for the Processed Meat and Seafood industry in Brazil with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Processed Meat and Seafood research and analysis database.
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