ID: MRFR/F-B & N/5326-HCR | 90 Pages | Published By Snehal Singh on March 2023
Duck Meat Products Market size is estimated to reach USD 4.6 billion by 2027, and the market is expected to register a growth rate of 6.2% during the forecast period of 2020 to 2027. Duck meat is lean foul. It tastes like chicken and is tender even when cooked. Duck meat is rising in popularity (hence the moderate CAGR for the near term) because people see its many health benefits.
The global population is becoming better educated, and a global middle class is emerging. Most of these people are health conscious and want to consume healthy meat. They are gravitating towards duck meat because they perceive it to be healthy.
COVID-19 Analysis of Duck Meat Products Market
COVID-19 surprised the world when it became a global nuisance last year. Governments soon realized that it was not just a nuisance virus but could be very dangerous at times. It was because some people who got COVID-19 got very sick from it. In any case, governments worldwide began to impose national quarantines and lockdowns to try to stop or at least slow the spread of the virus. This had limited effects.
Many industries suffered and the Duck Meat Products Market was one of them. Companies that processed duck meat were forced to scale back operations. It then became difficult for vendors to source the duck meat. The end consumer paid the ultimate price in the form of higher wholesale and retail prices.
People around the world are seeing that duck meat is healthy and tasty. Duck meat is increasingly processed and packaged in sterile packaging because it’s destined to sell in various types of supermarkets around the world. People around the world are becoming wealthier and their lives are much busier than before. These are some of the other factors that are driving growth in this Duck Meat Products Market.
Many companies that process duck meat are finding that fortifying it with extra nutrients and vitamins is very lucrative. People are willing to pay extra for foods that they know are fortified with nutrition. These companies are doing the research and development needed to develop the technologies that can enhance the nutritional value of duck meat even further.
Duck meat tends to be more expensive than chicken, pork, and (sometimes even) beef. This is especially the case with organically raised duck meat. This is a factor that is holding back growth in the market
Perhaps the biggest challenge that duck meat processing companies will face lies in keeping the price of duck meat in a price range that’s affordable for most people around the world while trying to find ways to make it more nutritious.
Maple Leaf Farms is a significant American company in the Duck Meat Products Market. It has managed to keep a visible profile in the market by investing heavily in research and development. This has helped it develop the technologies that are allowing it to process duck meat to make halal and other duck products.
The Duck Meat Products Market can be categorized into the following based on type:
The whole sub-segment currency commands the greatest duck meat products
market share in this segment. It is also expected to have the highest CAGR of all of the types of duck meat in this segment.
The global Duck Meat Products Market can be categorized into the following based on category:
The fresh sub-segment currently has the greatest duck meat products market share in this segment. This sub-segment is expected to have the greatest CAGR as well.
By Distribution Channel
The global Duck Meat Products Market can be categorized into the following based on distribution channel:
The store-based sub-segment has the highest duck meat products market value of all of the sub-segments in this segment. The store-based sub-segment can be further divided into two more segments:
The store-based sub-segment also generates the most revenue in this main segment. The duck meat products market growth (CAGR) is expected to be the highest for the non-store-based sub-segment.
The Duck Meat Products Market can be separated into the following regions:
The North American Duck Meat Products Market can be divided into three distinct nations: Canada, Mexico, and the United States of America. The market for the European Union can be further divided into many distinct nations: the United Kingdom, Germany, France, Italy, Spain, and the other parts of Europe.
The Asia-Pacific region can be divided into these distinct nations: China, India, Japan, Australia, New Zealand, and the other parts of the Asia-Pacific region.
The duck-meats products market can be separated into the following distinct regions for the rest of the world: Africa, South America, and the Middle East.
The North American region currently has the biggest duck meat products market share. This is especially true in Canada where ducks are plentiful. The United States of America also has many people who like to eat duck meat. In fact, duck meat is becoming much more popular in America. The CAGR is very high in the North American region. It may even be much higher than the global CAGR for the foreseeable future.
Canadians have long enjoyed duck meat because of its more temperate and sometimes frigid climate. Canada also has a lot of freshwater lakes and untouched wilderness. These are the places that wild and domesticated ducks have historically called home. Popularity for duck meat products is growing in Canada now that the population is much more health-conscious and aware of the many health benefits of duck meat.
The Asia-Pacific region is also seeing a high regional CAGR. One of the major contributors to this high regional CAGR is China. The Chinese will eat anything and have long considered duck meat to be a staple food item on the dinner table and a delicacy. Of course, demand for duck meat products is growing in this country as people become wealthier, better educated, and more health-conscious.
India is also a major consumer of duck meat products; The lower castes and classes have traditionally considered duck meat products to be a staple food item. This is especially true in the areas of India that border China like Assam and Arunachal Pradesh. People are becoming better educated in this nation as well. Also, as India’s economy grows a strong middle class is emerging.
This middle class has a considerable amount of wealth. Most of these people are educated and health-conscious. They are also willing to adopt Western dietary habits.
The duck meat products market is growing at a respectable pace in the European Union because people are very health-conscious in this part of the world. They also are increasingly aware of the many health benefits of duck meat products. One of these is that the nutrients in it help the nervous system function better.
The duck meat products market is very competitive. Part of the reason for this is its high CAGR. another equally important reason is that duck meat products often sell at a premium around the world. Companies are seeing this as a money-making opportunity and are seizing upon the chance to enter the market. Another key factor that accounts for the stiff competition is the fact that there are few barriers to entry into this market.
Companies are finding that they can stay competitive by doing one or more of three things:
Those companies that can and do invest heavily in research and development find that they can make even more money in the duck meat products market by developing the technologies that are needed to process duck meat to make it safe for human consumption. They can also use these technologies to add even more nutrition to duck meat. This does more than making it more nutritious. It helps it sell better and at a higher price too.
Companies that enter into strategic partnerships find that the resulting companies have more money which they can use to ramp up research and development and marketing efforts. This helps them get into a much better position when entering into new markets. It also helps them consolidate their position in existing markets.
Mergers and acquisitions do the same thing for companies that strategic partnerships do.
AJC International is a major American company. It has managed to stay competitive by doing intense and extensive research and development. This has allowed it to come up with innovative new products like duck bacon and half-cooked duck meat.
AJC International makes regular press releases to the public regarding the safety and nutritional value of their duck meat.
The CAGR for the duck meat products market is 4.5%, North America may have the largest market share but Asia-Pacific has the highest regional CAGR.
|Market Size||USD 4.6 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Category, Distribution Channel, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||AJC International, Inc. (US), Delpeyrat SAS (France), Maple Leaf Farms, Inc. (US), Pepe's ducks ltd (Austalia), Shandong New Hope Liuhe Group Ltd. (China), Courtin Hervouet (France), COOPERATIVE FOIE GRAS DE CHALOSSE (France), Charoen Pokphand Foods (Thailand), TCH Group (US), Luv-a-Duck (Australia), Lu Canard (Mexico), Ferme Uhartia (France), and Famille Dumecq – Canard des Landes (France)|
|Key Market Opportunities||Many companies that process duck meat are finding that fortifying it with extra nutrients and vitamins|
|Key Market Drivers||Increasingly processed and packaged in sterile packaging|
Duck meat products market is projected to grow at a 6.2% CAGR between 2020-2027.
Key players profiled in the duck meat products market include Famille Dumecq – Canard des Landes (France), Ferme Uhartia (France), Lu Canard (Mexico), Luv-a-Duck (Australia), TCH Group (US), Charoen Pokphand Foods (Thailand), COOPERATIVE FOIE GRAS DE CHALOSSE (France), Courtin Hervouet (France), Shandong New Hope Liuhe Group Ltd. (China), Pepe's ducks ltd (Austalia), Maple Leaf Farms, Inc. (US), Delpeyrat SAS (France), and AJC International, Inc. (US).
Duck meat products market is predicted to touch USD 4.6 billion by 2027.
Rising awareness about the various health benefits of duck meat consumption and demand for processed meat are the key factors driving the duck meat products market.
North America is expected to dominate the duck meat products market.