Retail volume sales of processed meat, seafood and alternatives to meat are expected to record slower growth during the five years to 2028, relative to the review period. This is, however, partly due to the extraordinarily high rate of growth registered in 2020, due to the shift to a home-based lifestyle.
As more Filipinos seek to follow healthier lifestyles, consumption of shelf stable seafood will likely continue to grow during the forecast period. Indeed, there is scope for the leading players to position their products as a versatile and convenient source of protein, as well as essential vitamins and omega-3 fatty acids.
While cost will likely remain prohibitive to some consumers, the increasing health and wellness trend will encourage the exploration of alternatives to meat. Young people, in particular, are seeking to adopt plant-based diets, not only due to health concerns, but also because of their lesser impact on the environment.
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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 Definitions
This report originates from Passport, our Processed Meat, Seafood and Alternatives to Meat research and analysis database.
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