Turkey Meat Products Market Highlights
The global turkey meat products market is poised to witness substantial growth of 16.80% CAGR and reached at 67.96 billion over the review period of 2032.
Market Scenario
from the perspective of global population growth driving food consumption, the steady increase in household incomes and retail trade turnover, amid continued urbanization, would be the main drivers of the growth in global meat consumption, which could also have an effect on the turkey meat products market. The high intensity of trade is primarily dictated by the large differences between the main turkey meat producing countries and some of the big consumption countries. Turkey's meat will continue to be heavily traded, powered by rising consumption and intensive global and regional convergence.
Europe's turkey meat products market is one of the largest in the world, driven by the region's strong tradition of turkey consumption. Turkey meat is a popular choice in Europe for festive occasions, such as Christmas and Thanksgiving. The market is characterized by a wide variety of turkey meat products, including whole turkeys, turkey cuts, and turkey sausages. Major players in the market are focusing on expanding their product portfolios and distribution networks to cater to the diverse needs of consumers in Europe.
A recent increase in fast food eating has been initiated by the introduction of a quick-paced life. Longer working hours give young adults little opportunities to have a home-cooked dinner. As a result , modern distributors are witnessing the growth of high net income individuals of processed turkey meat food products.
On the other hand, through the growth of production capacities, increased meat supply, along with the maintenance of strict poultry requirements, could ensure capabilities to satisfy market demand.
Competitive Dashboard
Cargill, Incorporated (US), Kraft Foods (US), Bernard Matthews (UK), Hormel Foods, LLC (US), Shady Brook Farm (US), Copas Traditional Turkeys (UK), Conagra Brands, Inc. (US), Hannaford Bros. Co., LLC (US), Gardein (Canada), and Land O’ Frost (US) are some of the key players in the global turkey meat products market.
Segmental Analysis
Based on product form, category, distribution channel, and location, the global Turkey Meat products market has been segmented.
The global demand for turkey meat products has been categorized as whole, sliced, ground, bacon, and others based on product form. During the forecast era, the cut segment is projected to dominate the global market for turkey meat products, because various food recipes require different meat cuts.
On the basis of category, the market has been divided into frozen, fresh, and others. During the appraisal period, the frozen segment is projected to be the largest and fastest-growing global turkey meat products market. The fast preservation of frozen food products can be due to this. In addition, by trapping in moisture in the form of ice crystals, freezing increases the shelf life of the meat.
The global demand for turkey meat products has been segmented into store-related and non-store-based, based on sales networks. Hypermarkets and malls, specialty outlets, and others have all been listed as the store-based category. During the forecast period, the store-based segment is projected to produce highest sales. Owing to the existence of broad vendor networks, the sub-segment of supermarkets and hypermarkets is expected to be the biggest. However, due to technical developments in the e-commerce sector and increased customer demand for online shopping, the non-store-based segment is projected to expand significantly during the review period.
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