ID: MRFR/F-B & N/5178-HCR | 90 Pages | Published By Snehal Singh on March 2023
According to the latest research report, the global turkey meat product market size is predicted to grow at a remarkable growth rate with a remarkable CAGR during the forecast period. Turkeys are a mostly domesticated bird sub-species, a common poultry item, particularly in North America, and are raised for meat. When it comes to Christmas and New years, turkeys and turkey foodstuffs are usually eaten during these two culturally essential celebrations. This is likely to contribute to the expansion of the worldwide Turkey Meat Products Market during the forecast timeframe.
As a result of the excellent nutritious content of turkey meat, it is also used in various ancient dishes. Frozen or fresh, turkey meat products are high in protein and available in multiple cuts. In addition to having a low-fat content, Turkey also has a high concentration of nutrients and essential minerals, vitamins, phosphorus, B6 zinc, potassium, and niacin, a type of vitamin B3. Because of the high concentration of the amino acid tryptophan in meat, one of the health advantages of turkey meat is an increased immunological system. Turkey's high selenium content is critical for the proper functioning of the thyroid hormone cycle. Selenium also has immune-boosting properties and functions as an antioxidant.
This report contains all the information on the global Turkey Meat Products Market analysis and its strengths. The report also includes the culmination of dynamics, segmentation, key players, regional analysis, and other essential factors. And a detailed analysis of the Turkey Meat Products Market forecast for 2027 is also included in the report.
Covid 19 Analysis
According to market research, the impact of the COVID-19 outbreak and the accompanying risk controls that were adopted to contain the spreading of the COVID-19 virus resulted in increased unit volumes in processing meat packaging throughout the year 2020. A large number of goods classified as processed meat saw an increase in demand due to the preventive lockdown that was enacted during the beginning phases of the COVID-19 outbreak.
Worldwide population expansion, along with rising family incomes and retail trade traffic, is expected to promote the rise of the global consumption of meat, which will, in turn, impact on the turkey meat products market growth.
On the other side, increased meat supply as a result of the expansion of production facilities, together with the maintenance of stringent poultry regulations, should ensure that the market's demand can be met.
Against the background of population expansion worldwide can be considered significant restraints of the global turkey meat products market value.
COVID-19's influence led to tight confinement measures such as social distance and remote working and the cessation of business activities that resulted in operational difficulties for businesses.
Cumulative Growth Analysis
Historically, turkey meat has been a heavily traded product, with exports accounting for roughly 16-18 percent of total world production between 2007 and 2016. The high level of trade flows is mainly influenced by the significant distances that separate the central turkey meat-producing nations from some of the substantial turkey meat-consuming countries. Turkey meat will remain heavily traded, fueled by rising demand and intensive global and regional connectivity, and this will continue in the foreseeable future.
Value Chain Analysis
According to the reports, Products, categories, distribution channels, and regions have all been identified as being important in the global market. The worldwide turkey meat products market has been segmented into four categories based on product type: sausage, whole turkey meat, ground turkey meat, chopped turkey meat, and others. The market has been segmented into three categories: frozen foods, fresh foods, and other products. The worldwide turkey meat products market has been split into two distribution channels: store-based and non-store-based. Store-based distribution channels account for around 80% of the industry. The store-based component has been further subdivided into supermarkets and hypermarkets, specialty shops, and other types of establishments.
The market is segmented on the Products, categories, distribution channels, and regions. The global turkey meat products market trend is expected to witness decent growth during the forecast period.
The Application is segmented into sausage, whole turkey meat, ground turkey meat, chopped turkey meat, and others.
The market is segmented into supermarkets and hypermarkets, specialty shops, and other types of establishments.
According to the reports, For this study, the turkey meat products market was broken down into four distinct regions: North America, Europe; Asia-Pacific; and the rest of the globe. U.S.A., Canada, and Mexico each account for a portion of the North American turkey meat products market share. Due to the significant demand for turkey and poultry products around Christmas and New years, North America is likely to lead the global turkey meat products industry. To top it all off, turkey is a resident of the United States and Mexico. The North American turkey meat products industry is booming because of the rising popularity of meals based on turkeys, such as hot browns, Pilgrim sandwiches, and smoked turkey legs.
Because turkey meat is a significant source of protein, the European Turkey Meat Products Market outlook is reported to witness the highest CAGR throughout the study period. The local market is preSdicted to develop over the forecast timeframe due to the increasing demand for turkey breast owing to its poor fat content.
Population growth will need increased crop output, agricultural activity, and commerce volume. As a result, firms operating in this turkey meat products market should see increased demand for processed meat as the global population grows during the projection timeframe.
Major Key Players
The following report comprises of –
The frozen raw packaging meat - processed sector leads the Turkish meat business in terms of value, while the cold meat category is predicted to increase at the quickest rate between 2019 and 2024.
Global Turkey Meat Products Market, by Product Type
Global Turkey Meat Products Market, by Category
Global Turkey Meat Products Market, by Distribution Channel
Global Turkey Meat Products Market, by Region
Rest of the World (RoW)
The product types analyzed in the turkey meat products market report are cut, ground, whole, sausage, and others.
The categories studied in turkey meat products market report are frozen, fresh, and others.
The distribution channels discussed in turkey meat products market report are store-based and non-store-based.
North America would dominate turkey meat products market.
Europe would record the highest turkey meat products market CAGR.