Spurred on by modern technology, the industry is changing the way the nation eats meat, with people consuming processed and pre-cooked meat more than ever before.
The industry is forecast to grow at an average annual rate of 8.3%, reaching $82.38bn in 2016, according to IBISWorld, America’s largest publisher of industry research.
Meat consumption in China increased steadily in the past decade. Despite its long history, the Meat Processing industry in China is in a growth stage. Spurred on by modern technology, the industry is changing the way the nation eats meat, with people consuming processed and pre-cooked meat more than ever before.
Strong potential still exists for the industry, as the rapid pace of modern life in cities and the increasing incomes of rural residents lead to stronger demand for industry products. The industry is forecast to grow at an average annual rate of 8.3%, reaching $82.38bn in 2016, according to IBISWorld.
The dietary patterns of residents have changed significantly since the late 1970s. This included a large rise in meat consumption as family income levels increased. Meat consumption in China increased steadily in the past decade, reaching 129.6 pounds per capita in 2010.
Low-temperature meat products are more expensive and have a shorter shelf life. However, in the long term, low-temperature meat products are expected to surpass high-temperature meat products as mainstream products of the industry, due to lower levels of nutrient loss and better taste.
Revenue of the meat processing industry is expected to total $55.24bn in 2011, up 13.1% for the year, with annualised growth of 22.5% since 2006. Imports, totalling $2.22bn, are expected to reach $2.59bn and to make up a growing portion of industry revenue.
In the five years to 2016, this industry is expected to gradually slow down its growth, with its revenue increasing at an annualised growth rate of 8.3%, reaching a forecast $82.38bn in 2016, according to the research.
Source: IBISWorld
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