Executive Summary

Nov 2018
PROSPECTS
Despite record meat consumption, challenges are abound for processed varieties

With growing US health-consciousness and progressively changing consumer attitudes about healthy eating, a large range of different foods has wound up in the crosshairs of these changes, hurting sales and fuelling subsequent changes. Among these changes has been a growing desire to reduce meat intake, led by perceptions that meat may contribute to poor health outcomes and concerns over the environmental impact of the meat industry amid growth in the availability of plant-based alternatives.

Meat substitutes surge onwards as regulatory battles fester

As the populations of vegans and vegetarians in the US continue to grow in response to increasing concerns over meat intake, an even more impactful population has also seen strong growth in numbers. “Flexitarians”, or those consumers who actively seek to limit their meat intake while not ceasing it altogether, are a relatively new but fast-growing part of the US consumer population who represent very strong growth prospects for meat substitutes, sales of which continue to grow at surging rates and the product variety is expanding at a rapid pace.

Unlikely to cease soon, trade instability heightens industry anxiety

Following the election of President Trump in late 2016, trade has become an issue receiving great attention in the US in a way not seen in a long time. President Trump campaigned for office on a platform partially built around criticising trade deals, such as NAFTA (the North American Free Trade Agreement) and TPP (the Trans-Pacific Partnership), and upon assuming power, has made trade antagonism a centrepiece of his administration’s policies.

COMPETITIVE LANDSCAPE
As meat substitutes rapidly proliferate, industry players hedge their bets

Despite efforts such as the pursuit of regulatory limits regarding usage of the term “meat” and a general preference by many with interests in the US meat and seafood industries that they not face the growing competition from these plant-based competitors, the shifting tide towards strong consistent growth and wide acceptance of these items has at the same time caused a reassessment of priorities by many. As substitutes increasingly reach a level of success whereby they cannot afford to be ignored and technology in this space rapidly develops, some interests in the traditional animal protein industry are beginning to hedge their bets by carving out a stake in this fast-growing area.

With challenges to growth come a tide of price-fixing cases

As growth broadly slowed towards the end of the review period across the US packaged food industry and consumers increasingly migrated away from the consumption of processed foods containing artificial ingredients and preservatives, many producers of processed meat and seafood struggled immensely. In this environment, competition stiffened dramatically, leading to significant efforts to attain growth.

Manufacturers continue to view convenience as an area of opportunity

Despite the ongoing struggles for producers of processed foods more broadly, a result of the increasing shift among US consumers towards healthier and more-natural eating, manufacturers of processed meat and seafood products nonetheless see opportunity alongside these shifting winds. While consumers are prioritising healthy eating, demand is higher than ever for foods offering convenience to increasingly busy consumers.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Processed Meat and Seafood industry in USA with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Processed Meat and Seafood industry in USA, our research will save you time and money while empowering you to make informed, profitable decisions.

The Processed Meat and Seafood in USA market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

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Packaged Food in the US - Industry Overview

EXECUTIVE SUMMARY

Innovation emerges as key to growth in an increasingly competitive market
Revamping of traditional concepts of packaged food products
Mergers and acquisitions continue to provide opportunities for growth
Online grocery retailing slated for aggressive expansion
Further consolidation and innovation expected

FOODSERVICE

Sales to Foodservice
Plant-based alternatives sprouting up in foodservice outlets
Potential for future growth via foodservice investments
Retail-orientated manufacturers try their hand at foodservice
Consumer Foodservice
Restaurants within retail outlets offer continued upside
Fast food automation seen as opportunity to increase sales
Pop-up restaurants emerging in major cities

CATEGORY DATA

Table 1 Foodservice Sales of Packaged Food by Category: Volume 2013-2018
Table 2 Foodservice Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 3 Forecast Foodservice Sales of Packaged Food by Category: Volume 2018-2023
Table 4 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2018-2023

MARKET DATA

Table 5 Sales of Packaged Food by Category: Volume 2013-2018
Table 6 Sales of Packaged Food by Category: Value 2013-2018
Table 7 Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 8 Sales of Packaged Food by Category: % Value Growth 2013-2018
Table 9 GBO Company Shares of Packaged Food: % Value 2014-2018
Table 10 NBO Company Shares of Packaged Food: % Value 2014-2018
Table 11 LBN Brand Shares of Packaged Food: % Value 2015-2018
Table 12 Penetration of Private Label by Category: % Value 2013-2018
Table 13 Distribution of Packaged Food by Format: % Value 2013-2018
Table 14 Distribution of Packaged Food by Format and Category: % Value 2018
Table 15 Forecast Sales of Packaged Food by Category: Volume 2018-2023
Table 16 Forecast Sales of Packaged Food by Category: Value 2018-2023
Table 17 Forecast Sales of Packaged Food by Category: % Volume Growth 2018-2023
Table 18 Forecast Sales of Packaged Food by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources