World - Poultry - Market Analysis, Forecast, Size, Trends and Insights
What Makes Poultry Meat So Popular Across The Globe?
As the most affordable type of meat, poultry has long enjoyed high consumption rates among low income groups of global population. However, healthy eating habits trends drove higher income customers to consuming poultry as a source of low fat protein. Poultry meat is forecast to dominate in meat consumption growth, increasing by 27% to 2023.
Meat sector dynamics are determined by such factors as consumer preferences, as well as income and population growth. The most recent trend in meat consumption is clearly defined by a solid increase in poultry demand. For example, according to OECD Publishing, in the US, per capita poultry consumption is expected to rise from 51 kg in 2013 to 57 kg by 2023.
In terms of price, pork is the strongest competition to poultry, though, unlike pork, the latter is not subject to cultural and religious barriers. Regions like the Middle East and Africa hardly consume any pork, while poultry is the universally accepted type of meat. Even in China, the largest pork sector in the world, pork consumption has been slowing down, as the market reached its saturation point. The share of poultry is expected to grow in China, as an alternative source of protein.
Aggregate meat consumption remains highest in developing countries. In Asia, driven by income growth and increasing urban population, total meat consumption is expected to undergo a 26% increase.
Despite being the world's largest vegetarian country, India is experiencing rapid meat consumption growth, though it still remains low compared with the rest of the world, by 2023 it is forecast to stand at less than 5 kg per capita.
In Africa, although overall meat consumption remains low, only 34% of global average, population growth may boost consumption growth in the medium term. Poultry meat is projected to outstrip bovine meat consumption. Together these types of meat will account for 70% of total meat consumption, 20% taken by sheep meat.
All in all, poultry meat not only maintains strong position on the world market, but it is also expected to continue an upward trend. Free of cultural barriers, low priced and a source of low fat protein, poultry meat is confidently climbing past other types of meat, becoming the most popular meat in the world.
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global poultry market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
We can help you conduct market research and write a report using the most reliable data