Market Trends of China Processed Meat Industry
This section covers the major market trends shaping the China Processed Meat Market according to our research experts:
Rising Consumption of Pork Meat Snacks
Pork is one of the most commonly consumed red meat that is often consumed unprocessed. However, cured or preserved pork products are also widely consumed. The trend of chilled and frozen pork products is also boosting the market studied. In line with this trend, several chilled processed red meat products, including Classical German Bacon, Tasty Pork Shank, and Black Pepper Pork Chop, have been introduced into the market for this early new trend, which makes the sales of processed meat on the rise. However, the African swine fever epidemic ravaged pig herds resulting in a 14% rise in pork prices. The rising pork prices are expected to trigger a ripple effect throughout China's economy, as it is importing pork from European Union, Brazil, Canada, and the United States, to meet the domestic demand as it is the country's essential meat. However, despite the impact of African swine fever in 2019 and the sudden outbreak of covid-19 in China, the consumption of meat products is showing no sign of reducing. China can be considered by some margin as the world's largest consumer of meat.
Online Retailing is the Fastest Growing Retail Channel
Online retailing is an emerging retail platform for processed meat across the country, but it is projected to be the fastest-growing channel in terms of sales value in the next several years. The main reason behind the rise in sales through online retailing is the convenience it provides consumers through its complete data-driven process, which aids consumers in selecting the right product for their daily diet. Often, new products are launched through online platforms in the region, which were previously first seen in supermarkets. These factors further enhance the share of online retailing in China. Also, with the spread of awareness regarding the benefits of online shopping, consumers readily purchase meat products through online retail sites that offer discounts such as buy one get one. Thus, the advantages associated with the distribution channel are expected to drive the market in the near future.
