Sales of processed meat and seafood have risen in 2020 as a large number of Finnish consumers spent more time at home due to COVID-19. This has helped to reverse the negative value growth of 2019 in areas such as chilled processed seafood and chilled processed red meat.
In a bid to keep pace with growing demand in 2020, processed meat and seafood manufacturers, including leading players HK Ruokatalo and Atria Suomi Oy, concentrated on producing only the most popular items. For example, in the spring of 2020, the CEO of Atria estimated that demand for minced meat had approximately doubled, with butchers also reporting significant growth driven by a rise in the amount of food that consumers were storing at home.
Private label players S Group and Kesko are set to record strong retail value growth in 2020 to further narrow the gap between themselves and leading players HK Ruokatal and Atria Suomi Oy. While Atria from Atria Suomi is the overall brand leader thanks to its strong position in processed meat, HK Ruokatal benefits from a wide brand portfolio that extends across multiple processed meat and seafood categories.
With the exception of chilled and frozen meat substitutes, many processed meat and seafood categories are set to record negative retail volume and value growth at constant 2020 prices in 2021. Processed seafood in particular is expected to record a sharp fall in retail value sales in 2021.
With the exception of shelf stable varieties, meat substitutes, notably chilled meat substitutes, is set to record the highest retail value and volume growth over the forecast period. Lidl, for example, is seeking to appeal to consumers’ desire for a more flexitarian diet with its Next Level Meat line of vegan plant protein products.
Environmental responsibility is likely to remain a strong driver of consumer purchasing decisions over the forecast period. Valio Oy, for example, has announced that over 50% of the packaging for its Mifú meat substitute brand will comprise recycled plastic, thus moving away from less environmentally responsible black plastic packaging.
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Understand the latest market trends and future growth opportunities for the Processed Meat and Seafood industry in Finland 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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