Processed Meat Market Is Rising at 8.4% Cagr and Estimated to Be Worth Us$1.5 Bn by 2024

Transparency Market

Research

Processed Meat Market - GCC Industry Analysis, Size, Share,

Growth, Trends, and Forecast 2016 - 2024

Published Date

16-09-2016

99 Page Report

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Press Release

Growing Retail Sector Plays Major Role in Driving Sales of Processed

Meat in GCC, finds TMR

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Processed Meat Market

REPORT DESCRIPTION

The GCC processed meat market is rather fragmented and the top six players accounted for a share of just

under 35% in 2015. These players are National Food Co., Al Islami Foods, Sunbulah Group, BRF SA, Gulf

Food Industries, and Almunajem. Transparency Market Research notes a strong presence of several of

these companies in the GCC region.

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An increasing number of vendors in the processed meat market have been concentrating on diversifying

their product portfolio through product innovation and development. Understanding the requirements of

the consumers and end users is key in this regard. In July 2015, BRF SA brand Perdigão introduced its line

of smoked sausages, hams, and pork cuts.

The opportunity in the GCC processed meat market was pegged at US$760.7 mn in 2015 and, rising at an

8.4% CAGR, is estimated to be worth US$1.5 bn by 2024.

Rest of GCC to Continue its Lead in GCC Processed Meat Market

Based on type of meat, the GCC processed meat market was led by poultry, which accounted for over 43%

in 2015 in terms of revenue. Lamb, on the other hand, is anticipated to register a strong growth rate of

8.9% from 2016 to 2024. In terms of volume as well, poultry leads the GCC process meat market while the

lamb segment will expand at a rapid pace.

By type of product, frozen processed...