Home seclusion due to the COVID-19 crisis has led to a strong recovery of processed meat and seafood sales in retail volume and value terms in 2020. Consumers have stocked up on staple foods in response to the restrictions on movement, which has resulted in volume sales growth for all categories within processed meat and seafood, many of which were in decline in 2019 (pre-pandemic).
The COVID-19 crisis has accelerated the already high growth of meat substitutes sales in 2020, with the sales performance of the chilled variety continuing to be the most dynamic. More consumers are seeking sustainable alternatives to meat to cook at home as the products become increasingly promoted by grocery retailers.
Private label continues to dominate processed meat and seafood in 2020, leaving branded players with very small value shares in a highly fragmented landscape. As the economy contracts owing to COVID-19, and in turn consumers’ purchasing power falls, the position of private label in some categories is likely to consolidate.
The gradual recovery of the foodservice channel from closures and reduced custom in 2020 will be noticeable in sales in 2021, with the bounce-back, and the stockpiling seen in spring, likely to lead to a significant decline for retail processed meat and seafood. The remainder of the forecast period is expected to see mild volume growth rates for foodservice mirrored by mild decreases in retail sales.
Processed meat volume sales are predicted to suffer from the long-term trend towards a reduction in meat consumption among a growing proportion of the German population. However, value sales may be supported by an increasing interest among consumers in the provenance of meat and a greater willingness to pay a premium for products with higher animal welfare and environmental standards, which will further boost growth in organic processed meat sales.
Processed seafood is set to perform better than many meat categories over the forecast period, making slight but consistent volume sales gains from 2022. Shelf stable varieties are set to perform the best, with consumers paying them more attention during 2020 as they searched for products with longevity, while lower price rises compared with chilled and frozen varieties will keep them affordable for consumers having to contend with an economic downturn.
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Understand the latest market trends and future growth opportunities for the Processed Meat and Seafood industry in Germany 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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