Brazil Recorded Third Largest Meat Market Worldwide: Ken Research
Ken research announced recent publication on “Consumer and Market Insights: Meat in Brazil,” which offers insights on Brazil trade scenario in meat sector. Report discuss present and future outlook of the meat demand and supply along with total domestic consumption. It provides detailed analysis on market sizing and recent trends prevailing in the industry to understand future prospects.
Brazil reported to earn third position in the global meat market supported by population base and advanced agriculture sector. In 2015, Brazil meat market recorded revenue of USD 38 billion and forecasted to reach to USD 29 billion in 2020 which reflect a fall in revenue due to uncertain economic conditions. In terms of consumption, men account for largest share compared to women.
However, fresh meat is known for its popularity it account for more than half of the market.
With expected shirk in country’s economy spending pattern and food habits will also make a shift which is an alarming situation for meat market as there is an expected fall on meat demand in the country. Many stores offers discount or schemes such as buy one and get one free or else discount on some large quantity, these all factors will further support the demand and lower down the impact of any change in economy.
Meat packaging accounts for a significant share in Brazil meat market and mainly for ready to eat and frozen food market packaging add value to product. However there are certain environmental issues involved with packaging for which companies are now focusing on easy to dispose of packaging material which ultimately increase the cost of the product.
Key areas to consider:
The total revenue of the Brazil meat industry expected to reach to USD 29 billion in 2020.
Tweens & Early Teens have the highest consumption of all age groups at 318.3 occasions per person per year.
Private label penetration is very high, at 37.3% of the market, as of 2015.