Processed meat and seafood will see stronger retail volume growth in 2020 in comparison to the review period CAGR. Demand for these products surged in the initial months of the COVID-19 pandemic, especially among higher-income households in urban cities.
However, the COVID-19 pandemic also posed considerable challenges to the leading players in 2020. There were issues in terms of ensuring adequate cold chain distribution and stock replenishment, particularly during the time of peak demand at the start of the pandemic.
K&N’s Foods will continue to dominate processed meat and seafood in terms of value share, accounting for just over half of sales in 2020. The company’s reputation for quality and hygiene, supported by significant marketing activity and ongoing new product development, appeals to current consumer priorities and enabled K&N’s Foods to marginally increase its share in 2020.
Consumers’ growing demand for convenience will be the key sales growth driver for processed meat and seafood in the forecast period. With growing urbanisation, increasing participation of women in the workforce and a transition towards more quick and modern cooking habits, urban women in particular will increasingly opt for processed meat and seafood.
A surge in the share of households with freezers and fridge freezers will also help the growth of processed meat and seafood over the forecast period, with more consumers becoming able to store frozen products. The widening household penetration of refrigeration appliances will be linked to rising disposable income levels, an expanding mid-income group and growing demand for convenience in the country.
The widening use of cold chain storage and display will also be seen in retail channels in the forecast period, with independent small grocers in particular increasingly offering freezer display units. The number of supermarkets and hypermarkets with strong cold chain distribution, storage and display systems is also expanding across the country.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Processed Meat and Seafood industry in Pakistan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Processed Meat and Seafood industry in Pakistan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Processed Meat and Seafood research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page