KUALA LUMPUR, Oct 17 -- Fresh meat represents 89 per cent of the total volume of meat sold globally and it is projected to grow by two per cent annually through 2023.
Euromonitor International has released the findings during its webinar ‘The future of meat: is consumption really decreasing?’, according to a statement.
“While environmental, health and ethical motives are driving consumers to cut back on meat in some developed markets, global meat sales are growing, mostly driven by demand in developing nations,” said Euromonitor International industry manager (food and nutrition), Tom Rees.
According to Euromonitor International’s health and nutrition survey, 21 per cent of the surveyed global consumers are trying to limit their meat intake, driving sales of global meat substitutes to reach US$23 billion by 2023. (US$1 = RM4.19)
Western Europe shows the slowest growth in total volume sales, both in fresh and processed meat, at 0.1 per cent and -0.1 per cent, respectively, through 2023.
In addition, Middle East and Africa recorded the most impressive growth at over four per cent through 2023, while in Asia Pacific, demand continues to grow as consumers relate meat consumption to health and social status.
Euromonitor International is the world’s leading provider for global business intelligence, market analysis and consumer insights. More information at https://www.euromonitor.com.
-- BERNAMA
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