World - Turkey Meat - Market Analysis, Forecast, Size, Trends And Insights
Global Turkey Meat Market Increases at 3.1% per year
IndexBox has just published a new report "World: Turkey Meat - Market Report. Analysis And Forecast To 2025". Here is a summary of the report’s key findings.
The World Market for Turkey Meat Has Stabilized after Growth in the Previous Year
In 2017, the global turkey meat market amounted to X thousand tons, which was approximately the level of 2016. A year earlier, there was a pronounced growth in the market against the background of increased consumption in the US, Brazil and Russia. In the period from 2007 to 2015, the volume of consumption was relatively stable with small fluctuations in individual years.
In terms of wholesale prices, the market increased at an average of X% per year over the past ten years and amounted to X billion dollars (IndexBox estimates). The USA in 2017 this indicator reflects the total income of producers and importers (excluding the costs of logistics, marketing costs and mark-ups of retail trade enterprises, which are included in the final consumer price).
The US Dominates the Global Consumption of Turkey Meat
The largest volume of consumption in 2017 falls on the United States (X% of world consumption in physical terms). Other leading countries are Brazil (X%), Germany (X%), France (X%), Italy (X%), Russia (X%), Spain (X% %), Poland (X%), Great Britain (X%) and Mexico (X%). The highest average annual growth rates of turkey consumption from 2007 to 2017 were recorded in Spain (+X%), Russia (+X%) and Brazil (+X%). Brazil (+X pp), Spain (X pp) and Russia (X pp) have consolidated their positions in the world consumption structure, while the shares of the USA (-X pp) and France (- X pp) decreased.
Among the leading consumer countries, the highest average per capita consumption was in the USA (X kg. per capita), which is significantly higher than the world average per capita consumption of X kg. Among the leading countries, the lowest average per capita consumption was observed in Mexico (X kg. per capita).
A Sustained Moderate Increase in Global Consumption of Turkey Meat Is Expected
Turkey meat is in great demand in North America, Europe and Latin America, but per capita consumption varies from country to country. The consumption of turkey meat, as well as other types of meat, depends on the size of the population and the disposable income, therefore, countries with a high standard of living traditionally have high per capita consumption of turkey. In addition, turkey meat is characterized by the seasonality factor - demand in the US and Europe annually increases in the pre-holiday period, for example, before Christmas.
On the other hand, although turkey is a much less common type of meat than chicken, a gradual increase in consumer interest in turkey amid a trend towards increased popularity of "healthy" foods in developed countries and increased attention to low-fat foods is expected. At present, however, there is no reason to assume a rapid change in consumer preferences from chicken and other types of meat in favour of turkey meat.
Based on the above-stated assumptions, it is assumed that in the medium term the market will continue to tend to moderate growth. It is assumed that world consumption of turkey meat will grow with the expected growth rate of X% over the next nine years, which will allow the market to grow to X million tons.
World Production Slightly Declined after Strong Growth in 2016
World production of turkey was X million tons in 2017, slightly declining compared with the previous year. Over the past ten years, production has grown moderately with slight fluctuations in certain years. In the period from 2007 to 2017, the average annual growth rate of production was +X%.
Producers from Spain and Russia Show the Largest Increase in Production in the World
The USA remains the key producer country of turkey in the world. In 2017, the volume of production in the USA rose to X thousand tons, which is X% of the global output. Other major producers were the following countries: Brazil (X%), Germany (X%), Poland (X%), France (X%), Italy (X%), Russia (X%), Spain (X%).
From 2007 to 2017 the highest average annual growth rates of production in the world were recorded in Spain (X%) and Russia (X%). In the rest of the countries, there was a predominantly less noticeable increase in production, while in France it declined at an average rate of -X% per year.
The significant growth in turkey meat production in Russia was mainly due to the high volume of investments in this sector and favorable conditions for import substitution, due to the weakening of the Russian currency against the US dollar in 2014-2016. At the same time, in Spain, growth is linked both to growing consumption within the country and to growing exports.
About X% of the Global Output Was Exported
The share of exports in production volume ranged from X% to X% in the last ten years. European countries export a significant share of the produced turkey meat: Poland (X% of exports from production), France (X%), Spain (X%), Germany (X%), Italy (X%), Great Britain (X%). The growth of world consumption and global integration will contribute to the growth of trade intensity in the medium term.
The USA Remains the Leading Exporter of Turkey Meat
In 2017, the volume of exports in physical terms amounted to X thousand tons. The recession in 2009 was followed by recovery, with a slowdown in 2013-2014. In 2015, exports fell again and could not recover to the maximum level of 2014.
In value terms, turkey exports amounted to USD X million. From 2015 to 2017 the volume of exports in value terms declined consistently.
The USA (X thousand tons), Poland (X tons), Germany (X tons), France (X tons), Brazil (X tons), Italy (X tons) and Spain (X thousand tons) were the main exporters of turkey meat in 2017 with a cumulative share of X% of the world export volume. From 2007 to 2017 Spain (+X%) and Poland (+X%) had the highest growth rate of exports in physical terms.
From 2007 to 2017, the share of the United States in global exports decreased by X pp. Poland (X pp), Germany and Spain (X pp) increased their shares in global exports. Brazil (-X pp) and France (-X pp), on the contrary, weakened their positions.
Mexico and Germany Are the Largest Markets for the Import of Turkey Meat
The volume of world imports amounted to X thousand tons or X million dollars. The USA in 2017 Import has a trend similar to export, as these trade flows are interrelated.
In 2017, Mexico (X thousand tons) and Germany (X thousand tons) were the largest importers of turkey meat. They were followed by Great Britain (X tons), Benin (X tons), Spain (X tons), the Netherlands (X tons) and Belgium (X tons). All these countries together accounted for X% of world imports. Benin (+X% pa), Great Britain (+X% pa), Germany (+X% pa) and Spain (+X% pa) had a positive growth in imports, while in other countries it slightly reduced. The share of Mexico in the structure of imports fell from X% in 2007 to X% in 2017, while the shares of Germany (+X pp), Great Britain (+X pp) and Benin (+X pp) increased. The shares of other countries remained at approximately the same level during the analyzed period.
Do you want to know more about the global turkey meat market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- turkey meat market share
- turkey meat prices
- turkey meat production
- turkey meat industry
- turkey meat sales
- turkey meat imports
- turkey meat exports
- turkey meat market forecast
- turkey meat price forecast
- key turkey meat producers
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global turkey meat 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 2030.
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
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