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World - Turkey Meat - Market Analysis, Forecast, Size, Trends and Insights

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Article Publishing Date: Jul 31, 2018

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 6,305 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 3.1% per year over the past ten years and amounted to 13.2 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 (39% of world consumption in physical terms). Other leading countries are Brazil (8.9%), Germany (7.5%), France (4.3%), Italy (4.0%), Russia (3.8%), Spain (3.2% %), Poland (2.9%), Great Britain (2.8%) and Mexico (2.8%). The highest average annual growth rates of turkey consumption from 2007 to 2017 were recorded in Spain (+18.2%), Russia (+7.9%) and Brazil (+6.0%). Brazil (+3 pp), Spain (3 pp) and Russia (2 pp) have consolidated their positions in the world consumption structure, while the shares of the USA (-5 pp) and France (- 3 pp) decreased.

Among the leading consumer countries, the highest average per capita consumption was in the USA (7.5 kg. per capita), which is significantly higher than the world average per capita consumption of 0.8 kg. Among the leading countries, the lowest average per capita consumption was observed in Mexico (1.4 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 1.5% over the next nine years, which will allow the market to grow to 7.1 million tons.

World Production Slightly Declined after Strong Growth in 2016

World production of turkey was 6.4 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 +1.2%.

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 633 thousand tons, which is 42% of the global output. Other major producers were the following countries: Brazil (9.9%), Germany (7.3%), Poland (5.2%), France (5.2%), Italy (4.8%), Russia (3.6%), Spain (3.4%).

From 2007 to 2017 the highest average annual growth rates of production in the world were recorded in Spain (24.6%) and Russia (20.2%). 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 -4.3% 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 16% of the Global Output Was Exported

The share of exports in production volume ranged from 16% to 19% in the last ten years. European countries export a significant share of the produced turkey meat: Poland (49% of exports from production), France (26%), Spain (25%), Germany (24%), Italy (22%), Great Britain (21%). 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 1,024 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 2331 million. From 2015 to 2017 the volume of exports in value terms declined consistently.

The USA (231 thousand tons), Poland (161,000 tons), Germany (112,000 tons), France (85,000 tons), Brazil (73,000 tons), Italy (65,000 tons) and Spain (53 thousand tons) were the main exporters of turkey meat in 2017 with a cumulative share of 77% of the world export volume. From 2007 to 2017 Spain (+11.4%) and Poland (+8.6%) 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 2 pp. Poland (8 pp), Germany and Spain (3 pp) increased their shares in global exports. Brazil (-2 pp) and France (-5 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 936 thousand tons or 2,320 million dollars. The USA in 2017 Import has a trend similar to export, as these trade flows are interrelated. 

In 2017, Mexico (162 thousand tons) and Germany (117 thousand tons) were the largest importers of turkey meat. They were followed by Great Britain (46,000 tons), Benin (43,000 tons), Spain (37,000 tons), the Netherlands (34,000 tons) and Belgium (34,000 tons). All these countries together accounted for 52% of world imports. Benin (+5.3% pa), Great Britain (+5.2% pa), Germany (+3.0% pa) and Spain (+1.5% 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 20% in 2007 to 17% in 2017, while the shares of Germany (+3 pp), Great Britain (+2 pp) and Benin (+2 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

Product coverage:
• FCL 1080 - Turkey meat

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 2025.



Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in World, split by region and country
• Trade (exports and imports) in World
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2025
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
7.3
PRODUCING ANIMALS AND YIELD BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2018
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2018
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

United States
China
Japan
Germany
United Kingdom
France
Brazil
Italy
Russian Federation
India
Canada
Australia
Republic of Korea
Spain
Mexico
Indonesia
Netherlands
Turkey
Saudi Arabia
Switzerland
Sweden
Nigeria
Poland
Belgium
Argentina
Norway
Austria
Thailand
United Arab Emirates
Colombia
Denmark
South Africa
Malaysia
Israel
Singapore
Egypt
Philippines
Finland
Chile
Ireland
Pakistan
Greece
Portugal
Kazakhstan
Algeria
Czech Republic
Qatar
Peru
Romania
Vietnam
LIST OF TABLES
Table 1:
Key Findings In 2018
Table 2:
Market Volume, In Physical Terms, 2007–2018
Table 3:
Market Value, 2007–2018
Table 4:
Per Capita Consumption, By Country, 2015–2018
Table 5:
Production, In Physical Terms, By Country, 2007–2018
Table 6:
Producing Animals, By Country, 2007-2018
Table 7:
Yield, By Country, 2007-2018
Table 8:
Imports, In Physical Terms, By Country, 2007–2018
Table 9:
Imports, In Value Terms, By Country, 2007–2018
Table 10:
Import Prices, By Country Of Destination, 2007–2018
Table 11:
Exports, In Physical Terms, By Country, 2007–2018
Table 12:
Exports, In Value Terms, By Country, 2007–2018
Table 13:
Export Prices, By Country Of Origin, 2007–2018
Table 14:
Producer Prices, By Major Producing Country, 2018
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), By Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2018
Figure 2:
Market Value, 2007–2018
Figure 3:
Consumption, By Country, 2018
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Yield And Growth
Figure 11:
Exports And Growth
Figure 12:
Export Prices And Growth
Figure 13:
Market Size And Growth
Figure 14:
Per Capita Consumption
Figure 15:
Imports And Growth
Figure 16:
Import Prices
Figure 17:
Production, In Physical Terms, 2007–2018
Figure 18:
Production, In Value Terms, 2007–2018
Figure 19:
Producing Animals, 2007–2018
Figure 20:
Yield, 2007–2018
Figure 21:
Production, By Country, 2018
Figure 22:
Production, In Physical Terms, By Country, 2007–2018
Figure 23:
Producing Animals, By Country, 2018
Figure 24:
Producing Animals, By Country, 2007-2018
Figure 25:
Yield, By Country, 2007-2018
Figure 26:
Imports, In Physical Terms, 2007–2018
Figure 27:
Imports, In Value Terms, 2007–2018
Figure 28:
Imports, In Physical Terms, By Country, 2018
Figure 29:
Imports, In Physical Terms, By Country, 2007–2018
Figure 30:
Imports, In Value Terms, By Country, 2007–2018
Figure 31:
Import Prices, By Country, 2007–2018
Figure 32:
Exports, In Physical Terms, 2007–2018
Figure 33:
Exports, In Value Terms, 2007–2018
Figure 34:
Exports, In Physical Terms, By Country, 2018
Figure 35:
Exports, In Physical Terms, By Country, 2007–2018
Figure 36:
Exports, In Value Terms, By Country, 2007–2018
Figure 37:
Export Prices, 2007–2018
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