Worldwide Demand For Meat Products Steadily Rising
T
he worldwide demand for meat products has been rising steadily for years and is projected to continue. Both the processing markets and the packaging markets will see ever-increasing revenues for the next several years according to various industry reports.
The Packaging market (the smaller of the two) is anticipated to reach USD 2.5 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 2.7% during the forecast period.
The report says Rising demand for fresh products such as pork and beef coupled with awareness regarding the safety and nutritional value of these products is projected to drive the growth.
The processing market, however, dwarfs the packaging sector. A report from Statista said the market value of processed meat will exceed $1.5 Trillion dollars by 2022.
Their report added In the past, many cultures considered meat a luxury that could only be enjoyed on special occasions or certain days of the week, while today it is a staple that can be found in nearly all restaurants and many kitchens all over the world. Poultry is the most popular kind of processed meat, with a 38 percent share of the global market. Red meat, which includes pork and beef, takes up about a 33 percent share. However, seafood, often considered healthier and more environmentally friendly than other meats, saw a higher compound annual growth rate than both red meat and poultry. In 2017, the United States saw the the highest revenue from meat products and sausages, nearly twice as much as the second largest meat market in the world, China. Active stocks in news today include China Xiangtai Food Co. Ltd. (NASDAQ PLIN), Sanderson Farms, Inc. (NASDAQ SAFM), Beyond Meat, Inc. (NASDAQ BYND), Tyson Foods, Inc. (NYSE TSN), Archer-Daniels-Midland Company (NYSE ADM).
The Statista report continued As the demand for meat rises worldwide, so must the production of meat. Most of the world's meat is produced in Asia. Pork and poultry are the most widely produced types of meat, with sheep being the least produced. Although many people abstain from pork for nutritional or religious reasons, pork is widely consumed and produced in China and Europe. In addition to producing the highest revenue from meat sales, the United States is also a major producer and exporter of meat, especially beef. Brazil is also a major exporter of meat, both in the form of broiler chickens and beef... The projected per capita meat consumption is expected to remain steady at around 35 kilograms of meat per year. However, as the global population continues to climb, the overall consumption of meat is expected to rise steadily in the upcoming years.
China Xiangtai Food Co. Ltd. (NASDAQ PLIN) BREAKING NEWS - PLIN Provides Update on Current Business Operations - China Xiangtai Food (the Company or the PLIN), an emerging growth company engaged in the food processing business, today provided a business update and reported on recent corporate developments.
The Company noted that the U.S. Senate passed the Holding Foreign Companies Accountable Act, which would require the Securities Exchange Commission to prohibit the trading of companies whose auditor has not been under the inspection of the Public Company Accounting Oversight Board (PCAOB). The Company assures that its consolidated financial statements were audited by a PCAOB-inspected public accounting firm and therefore would not be subject to proposed prohibition.
Although not affected by the Senate Bill so far, the Company remains committed to providing transparent disclosure to its shareholders. To protect the interests of investors, the Company will keep enhancing transparency and disclosure.
As the restaurants gradually reopen, overall pork demand in China is expected to recover. The Company has fully resumed manufacturing activities this month. All employees are required to adhere to applicable safety protocols including but not limited to appropriate social distancing measures, strict sanitization practices, the use of personal protection equipment, and daily employee health checks.
To maintain business continuity and stability, Xiangtai strategically develops towards the upstream of the food supply chain. Recently, the Company rented a 2,500 square meter hog farm in Guangxi Province, further expanded into hog breeding business and vertically integrated the food supply chain.
Businesses are as usual for us and our operations are back to normal to meet the demand of our customers. As a company serving people's essential needs, we are doing our best to provide healthy and safe products to our customers and to support our valued channel partners, said Ms. Zeshu Dai, Chairman and Chief Executive Officer of China Xiangtai Food Co., Ltd. While expanding into hog breeding business, we are producing our products in a more environmentally friendly way and ensuring higher quality. We expect to continue expanding the market share in the southwest area. Read this entire press release and more news for PLIN at https//www.financialnewsmedia.com/news-plin
✔️ Worldwide Demand For Meat Products Steadily Rising
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