Market Scenario:
from the perspective of global population growth driving food consumption, the steady increase in household incomes and retail trade turnover, amid continued urbanisation, would be the main drivers of the growth in global meat consumption, which could also have an effect on the turkey meat industry. The high intensity of trade is primarily dictated by the large differences between the main turkey meat producing countries and some of the big consumption countries. Turkey's meat will continue to be heavily traded, powered by rising consumption and intensive global and regional convergence.
A recent increase in fast food eating has been initiated by the introduction of a quick-paced life. Longer working hours give young adults little opportunities to have a home-cooked dinner. As a result, modern distributors are witnessing the growth of high net income individuals of processed turkey meat food products.
On the other hand, through the growth of production capacities, increased meat supply, along with the maintenance of strict poultry requirements, could ensure capabilities to satisfy market demand.
Turkey Meat Products Market Highlights:
The global Turkey Meat Products Market Size 2020 is poised to witness substantial growth over a notable CAGR over the review period.
Regional Overview:
the global turkey meat products market was evaluated for four main areas, namely, North America, Europe, Asia-Pacific, and the rest of the world,.
The growth of the turkey meat products market in North America is fuelled by the increasing popularity of turkey-based dishes such as Pilgrim sandwiches, hot brown, and smoked turkey legs. Globally, owing to the heavy intake of turkey meat and turkey meat products as part of the annual meal on Thanksgiving and Christmas, North America is expected to lead the turkey meat products market. In comparison, turkey is originally from the US and Mexico.
Due to rising demand, the Turkey Meat Products Market in Europe is expected to report the highest CAGR during the review period, as turkey meat is a significant source of protein. Due to its low-fat content, turkey breast's rising popularity is expected to fuel the growth of the regional demand for turkey meat products during the forecast period.
Competitive Dashboard:
Cargill, Incorporated (US), Kraft Foods (US), Bernard Matthews (UK), Hormel Foods, LLC (US), Shady Brook Farm (US), Copas Traditional Turkeys (UK), Conagra Brands, Inc. (US), Hannaford Bros. Co., LLC (US), Gardein (Canada), and Land O’ Frost (US) are some of the key players in the global turkey meat products market.
Segmental Analysis:
Based on product form, category, distribution channel, and location, the global Turkey Meat Products Market Overview has been segmented.
The global demand for turkey meat products has been categorised as whole, sliced, ground, bacon, and others based on product form. During the forecast era, the cut segment is projected to dominate the global market for turkey meat products, because various food recipes require different meat cuts.
On the basis of category, the market has been divided into frozen, fresh, and others. During the appraisal period, the frozen segment is projected to be the largest and fastest-growing global turkey meat products market. The fast preservation of frozen food products can be due to this. In addition, by trapping in moisture in the form of ice crystals, freezing increases the shelf life of the meat.
The global demand for turkey meat products has been segmented into store-related and non-store-based, based on sales networks. Hypermarkets and malls, specialty outlets, and others have all been listed as the store-based category. During the forecast period, the store-based segment is projected to produce highest sales. Owing to the existence of broad vendor networks, the sub-segment of supermarkets and hypermarkets is expected to be the biggest. However, due to technical developments in the e-commerce sector and increased customer demand for online shopping, the non-store-based segment is projected to expand significantly during the review period.
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