Rising demand for ready-to-eat, frozen, and other meat product types due to their inexpensive prices is fueling the Southeast Asia meat product market growth. The Thailand market is likely to create many investment opportunities in the forecast period.
NEW YORK, Nov. 11, 2020 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "The Southeast Asia Meat Product Market, by Type (Beef, Pork, Chicken, Mutton, and other), Packaging (Chilled, Frozen, and Canned), Processed Meat Type (Hamburgers, Fried Sausages, Kebab, and Nuggets), Regional Analysis (Malaysia, Thailand, Singapore, Vietnam, Indonesia, and the Philippines): Opportunity Analysis and Industry Forecast, 2019–2026".
The report reveals that the Southeast Asia Meat Product Market is estimated to surpass $1,17,259.2 million by 2026, growing at a CAGR of 5.1% from 2019 to 2026. As per the report, the Thailand's meat product market is anticipated to witness largest growth during the forecast period.
Key Segment Findings of the Market:
The market is segmented based on meat types, processing meat type, packaging, and region.
- Among meat types segment, the pork meat product sub-segment is expected to observe fastest growth by garnering $43,636.9 million by 2026. This is mainly because of the increasing demand for pork meat for numerous practical as well as historical reasons.
- Among packaging segment, the chilled meat packaging sub-segment is expected to experience fastest growth and garner $57,360.5 million by 2026. This is mainly due to steady demand for ready-to-eat foods and frozen foods.
- Based on country, the Thailand market is projected to grow at a CAGR of 6.5% and reveal profitable growth opportunities for the market growth in the forecast period; mainly due to stringent animal disease & food safety control rules, development in farm productivity, and the growing development of meat products in Southeast Asian countries.
To explore more details, Download the Sample Report of Southeast Asia Meat Product Market
As per the report, the mounting demand for ready-to-eat meat products, frozen meat products, and others due to their affordable prices is boosting the global Southeast Asia meat product market growth. Moreover, advanced lifestyle of people and developments in the Southeast Asia region is contributing to the growth of the market. However, an increase in vegetarianism as well as growing adoption of vegan foods are retraining the market growth. On the other hand, increasing technological advancements in meat culture procedures is likely to unlock rewarding opportunities for the market growth.
Impact of COVID-19 on the Southeast Asia Meat Product Market Growth
The sudden rise of COVID-19 has unlocked rewarding opportunities for the market growth in 2020. For instance, as per the National Report of Thailand published in May 2020, Thailand is considering to increase their exports of chicken meat by around 10% this year to increase the level of self-sufficiency in local meat production. Moreover, the Southeast Asian countries' government bodies are supporting food industries to overcome the losses incurred during the crisis period, which might contribute to the market growth.
Top 10 layers of the Southeast Asia Meat Product Market
The top players of the Southeast Asia meat product industry are
- Thai-German Meat Product Company Limited
- Charoen Pokphand Foods PCL.
- GFPT Public Company Limited.
- Bangi Argo Malaysia.
- Saha Farms Co. Ltd
- Angliss Singapore Pte Ltd.
- F & G Food Pte Ltd
- BETAGRO PUBLIC COMPANY LIMITED
- Chop Hup Chong Food Industries Pte Ltd.
Numerous pioneering business strategies such as innovative technological advances, R&D activities, acquisitions and mergers, etc. performed by these players are helping them in obtaining a highest position in the global market.
Additionally, the report offers various details about the leading players such as their yearly performance, financial status, and product portfolio along with Porter Five analysis and SWOT analysis. - Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]
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