The South America processed meat market is expected to register a CAGR of 8.8%, during the forecast period of 2018 to 2023. Processed meat consumption was always high, mostly because it was always considered to be a product of convenience. Brazil is the major market in South America. Beef is the most widely consumed meat type in this region. In recent years, the exports of processed meat from Brazil have been increasing rapidly making it the largest beef exporter in the world.
Convenience Products are the Future
Factors such as hectic lifestyle, rapid urbanization, adoption of new lifestyle trends and food habits are projected to drive the demand for packaged, ready-to-eat, and convenience food, such as processed meat. Growth in food service and retail industry has led to increased supply of processed meat products. Demand for meat products has also been influenced by variety, prices and services that the food retail firms have been offering to their customers. Private label will continue to gain traction during the forecast period due to attractive prices with a similar quality to the leading brands. The growing demand for frozen food products in South America will also drive the processed meat market.
Beef is the Most Preferred Type
Processed beef is the largest segment in processed meat industry and accounts for around 40% of the market share. The processed red meat is expected to perform well, mainly due to rising prices of other meat, as well as the strong popularity of red meat in Brazil. Cured meat is widely consumed and accounts for 65% of the market share.
Brazil Leading at the Regional Front
The South American processed meat market has been geographically segmented into Brazil, Argentina, and others. Brazil took the largest market share in 2015 followed by Argentina. Processed beef exports in Brazil increased in value (26%) in December 2017, compared to the same period a year ago. Argentina lost ground in beef export due to the recent domestic policies. The promotions and discounts on processed meat in Argentina were not enough in the face of the decline in purchasing power in 2017. Chile has become the major poultry exporter in recent years with a strong domestic demand as well.
The key players in the South America processed meat market are focused on the expansion of the business by exporting to countries, like US, Canada, Middle-east, etc. and also extending the product line. Mergers and acquisitions of small and medium-sized manufacturers is another strategy adopted by multinational players.
Major players - BRF SA, FOSTER FARMS, FRIGORÍFICO PALADINI SA, HORMEL FOODS, JBS SA, MARFRIG GROUP, MOLINOS RÍO DE LA PLATA SA, NIPPON MEAT PACKERS INC., PERDUE FARMS, SADIA S.A., SHUANGHUI INTERNATIONAL, SMITHFIELD FOODS INC., among others.
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- Analyzing outlook of the market with the recent trends and Porters five forces analysis
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- Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
- Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modeling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Trends
4. Market Dynamics
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Consumer Behavior Analysis
4.5.1 Consumer Demand Analysis
4.5.2 Target Market Identification
18.104.22.168 Spending Patterns
22.214.171.124 Demographic Strengths and Weaknesses
126.96.36.199 Purchasing Power
5. Market Segmentation
5.1 By Type
5.3 Processing Type
5.3.3 Canned and Preserved
5.4 By Distribution Channel
5.4.1 Hypermarkets/ Supermarket
5.4.4 Convenience Store
5.4.5 Specialist and Independent Retailers
5.5 By Geography
5.5.4 South America
188.8.131.52 Rest of South America
6. Competitive Landscape
6.1 Most Active Companies
6.2 Market Share Analysis
6.3 Most Adopted Market Strategies
7. Company Profiles
7.1 BRF SA
7.2 Foster Farms
7.3 Frigorífico Paladini SA
7.4 Hormel Foods
7.5 JBS SA
7.6 Marfrig Group
7.7 Molinos Río de la Plata SA
7.8 Nippon Meat Packers Inc.
7.9 Perdue Farms
7.10 Sadia SA
7.11 Shuanghui International
7.12 Smithfield Foods Inc.