Processed meat, seafood and meat alternatives is set to register robust growth in both volume and current value terms over the forecast period, with processed meat leading the way. Convenience will be the main driver of this trend, as consumer become increasingly busy, particularly in urban areas, with many households lacking the time to prepare meals from scratch using fresh ingredients, as they did during the time of the pandemic.
Average unit prices are expected to continue to increase over the forecast period, at least in the short-term, in view of rising feed costs exacerbated by the ongoing conflict in Ukraine. This will lead manufacturers to switch to cheaper, local ingredients, in preference to more expensive imports, in order to keep their profit margins.
The main barrier to retail volume sales growth of processed meat and seafood will be a heightened consumer interest in health and wellness. In particular, a growing number of consumers are concerned about the health risks associated with the consumption of processed red meat.
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Processed Meat, Seafood and Alternatives to Meat
This is the aggregation of processed meat, processed seafood and meat and seafood substitutes.
See All of Our DefinitionsThis report originates from Passport, our Processed Meat, Seafood and Alternatives to Meat research and analysis database.
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