Europe animal-based food and beverage market is projected to grow at a CAGR of 2. 93% during the forecast period (2020-2025). - The growing need for convenience food supported by factors, such as busy lifestyles, changing consumer preferences, and growing demand for ready-to-eat food products (like processed meat and dairy snacks), are expected to drive the demand for the market studied.
New York, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Animal-Based Food and Beverage Market Growth, Trends and Forecasts (2020 - 2025)" - https://www.reportlinker.com/p06001595/?utm_source=GNW
- Furthermore, innovations in meat processing technologies have led to the introduction of diverse products in the market, thus, ensuring a bigger consumer base. Cheese and pig meats are the preferred animal-based protein sources in the European Union, followed by poultry, milk, and bovine.
- Meat and seafood contribute 11% to the animal-based protein supply. On average, an EU citizen consumes 22 kg per year of animal-based proteins and 16 kg per year of plant-based proteins (as per FAOSTAT In 2017), which is leading to a higher purchasing power of these animal-based food and beverage products, thus, driving the market forward.
Key Market Trends
Increasing Demand for High-Value Animal Protein
According to Eurostat, the annual meat production, such as bovine, poultry, pigs, and sheep, has constantly been increasing in the European market. Similarly, the European Union produced 23.8 million metric ton of pork in 2018, an increase of +2.1% on the level in 2017. This represented a new relative peak, pushing production 1.5 million metric ton above the level in 2010. This is due to the growing demand for protein-rich food, primarily driven by the rise in health consciousness among consumers, globally. The increase in the demand for animal protein and the growing consumer preference for low-fat and high-protein diets have led to a remarkable rise in the consumption of animal protein across Europe. This trend has been driven by the influence of ethnic cuisines across Africa, Asia-Pacific, and especially the Middle East being consumed in Europe. Moreover, Europe’s increasing affluence toward Halal-certified food and beverage products is expected to register a CAGR of 5.54% during the forecast period, 2020-2025 (as per Mordor Intelligence). Therefore, this is further increasing the demand for animal protein products in Europe. The growing consumption of processed poultry and pork meat is expected to drive the demand for processed meat in Europe.
Germany Accounted for the Largest Market
The German meat market is already a saturated one as over the past 30 years consumption has slightly declined at times and has largely stagnated overall, at around 60 kilograms per capita per year. Pork remains the favourite variety, at 36 kilograms, followed by poultry (13 kilograms) and beef (10 kilograms). Consumption of sheep, goat and other meat (including venison) amounts to less than 2 kilograms. Also, hams are one of Germany’s most favourite meat products, both the air-dried, cured, prosciutto-like “raw ham” (Rohschinken) and the boiled, cured, pink “cooked ham” (Kochschinken). Pertaining to high production levels of milk and other dairy products, Germany has been accountable for 20,5% of total milk deliveries in 2019. Moreover, Germany also depicts self-sufficiency rate of 133% as far as dairy segment is concerned. Cheese (25kg/per capita), butter (7.8kg/per capita), and cream (6.1kg/per capita) are other dairy products popularly consumed in the country.
The most active players, such as Royal FrieslandCampina NV, Unilever PLC, Arla Foods Amba, and other few active players are among the most prominent companies operating in the Europe animal-based food and beverage market. The key players are embarking on mergers and acquisitions and product innovation as their key strategies to achieve consolidation, and to optimize their offerings. Moreover, these players are partnering with local players to gain dominance in the local markets. For instance: Royal FrieslandCampina NV has entered into an agreement with Royal A-ware for the production and supply of mozzarella cheese. In this partnership, Royal A-ware will take care of the processing of the milk and the production of mozzarella cheese in the new mozzarella production location in Heerenveen (the Netherlands).
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06001595/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001