COVID-19 drove a surge in retail volume sales of processed meat and seafood in Hong Kong during 2020. Fearing supply chain disruption during the early stages of the pandemic, many consumers rushed to stock up on products with a long shelf life, with frozen and shelf stable meat among the main beneficiaries of this.
During the review period as a whole, unit volume sales of packaging for meat and seafood substitutes rose at a much faster rate than in any other area of processed meat and seafood. Increased concerns about the healthiness of processed meat was one of the main drivers of this trend, in addition to a more general desire to consume less meat for a variety of reasons, such as environmentalism – as meat production is very resource intensive – and animal welfare.
Many long-established shelf stable processed meat and seafood brands in Hong Kong, such as Great Wall and Pearl River Bridge, usually carry an image of the raw product or the source animal on their packaging in an effort to communicate a down-to-earth, transparent and trustworthy brand image. However, facing increasing competition from new players and meat substitutes, some of them are revamping their packaging.
The availability of meat and seafood substitutes is expected to continue growing in Hong Kong in the coming years, including expanding to include a wider range of seafood alternatives. This is expected to bolster the packaging unit volumes of thin wall plastic containers and flexible plastic used in meat and seafood substitutes over the forecast period.
Shelf stable meat, which is exclusively packaged in metal food cans, is expected to record declining annual growth rates in every year of the forecast period, resulting in year-on-year declines in its packaging unit volumes. This can be attributed to the unhealthy composition of most shelf stable meats, often being high in fat and salt.
Delivery:
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 Packaging industry in Hong Kong, China 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 Packaging industry in Hong Kong, China, 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 Packaging 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 extraction Free!