Processed poultry has grown in popularity with consumers around the world due to its convenience and the market is expected to record a compound annual growth rate (CAGR) of 6.4% during the next five years.
North America is the largest market for processed poultry meat, but AMR believes Asia-Pacific will be the fastest growing region between now and 2020.
The report – entitled World Processed Poultry Meat Market - Opportunities and Forecasts, 2014-2020 – says poultry meat has a higher demand among consumers compared to pork, beef or lamb meat, as it is comparatively cheaper and contains less saturated fats.
Cured varieties of processed poultry meat generated the highest market revenue in 2014, according to report. One possible reason for this is that the products contain nitrates, which increase shelf-life. Uncured poultry is expected to rise too. AMR predicts this market segment to register a CAGR of 7.7% during the five-year period.
The key finding of the study state the US was the largest market of processed poultry meat in 2014 and the country is predicted to maintain this trend over the next five years.
Growth in the Asia-Pacific region will be driven by global retailers as they expand their market presence in this region.