The busy lifestyle of consumers in the GCC region over the years has caused people to opt for ready-to-eat food items or those that can be prepared within a short span of time. Growing popularity of processed meat-based fast foods among the younger generation and a rise in the number of working women across different countries in GCC region are also responsible for the rising demand for processed meat, globally. Considering this, a new research report titled as “Processed Meat Market - GCC Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024” has been recently added to the vast online portfolio of Market Research Reports Search Engine (MRRSE).
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The GCC processed meat market is expected to expand at a CAGR of 8.4% between 2016 and 2024. At this pace, the market is likely to reach a valuation of US$1.5 billion by 2024 from US$760.7 million in 2015. The research report on the GCC processed meat market offers an in-depth analysis of the processed meat products market in Qatar and rest of GCC and aids in the understanding of the driving forces behind the popularity of this industry. Under this report, detailed study of key segments and sub-segments of GCC processed meat market are provided for the historical period (2010-2014) and the next eight years (2016-2024) is the forecast period. Moreover, the report includes in-depth analysis of the drivers, restraints, market trends, and future outlook of the industry. The strategies for stakeholders to succeed in the market are comprehensively evaluated in the report.
The GCC processed meat market is segmented by product type, meat type, package type and region. In terms of meat type, poultry accounts for the highest market share in GCC market and is expected to maintain its top position throughput the forecast period. Based on product type, frozen processed meat type held the highest market share in the GCC market in terms of revenue and volume in 2015. Processed meat sales are likely to be driven by frozen variants across all the countries in GCC region. By country, the market is segmented into Qatar and rest of GCC. This study helps suppliers, distributors and manufacturers to evaluate strategies provided in the report based on understanding of the trends in the market.
The top companies which have the maximum market share in processed meat market across GCC region include Al Islami Foods, National Food Co. (Americana Meat), Sunbulah Group, BRF S.A., Cargill Inc., Gulf Food Industries, Tyson Foods and Almunajem among others.
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