Globally, processed meat is forecasted to grow at 1.3% over the next five years in constant retail value terms. By contrast, The MENA region will account for 3% of the total global retail value by 2021, growing at 5.4% over the same time period.
Meat substitutes continue to gain in popularity but within meat substitutes consumers are shifting from frozen to chilled variants. Processed red meat sales are under pressure and concerns over health, the environment and animal welfare, as well as changing demographics and tastes are having an impact on the segment. In the face of the latest developments, meat-oriented businesses will need to defend their brands and are likely to emphasise the benefits of meat consumption, such as the fact it contains important nutrients and high quality proteins. They are also likely to include a greater variety of less processed products in their portfolio. The future is likely to see mainstream meat brands moving towards healthier variants, such as organic meat or poultry, and possibly the addition of meat substitutes to their portfolios.
*Source: Euromonitor International