The growth of the GCC market for processed meat is mainly aided by the busy lifestyles of consumers and the increased demand for ready-to-eat yet healthy food products. The rising popularity of fast foods based on processed meat, especially among the young generation in the region is also a key factor bolstering the growth prospects of the GCC processed meat market. Factors such as a vast rise in the contribution of women in the region’s workforce, aggressive marketing strategies adopted by vendors in the highly competitive market, and focus of companies on product innovation to strengthen foothold in the market are also driving the market.
Browse the full Fine GCC Processed Meat Market Report: http://www.mrrse.com/gcc-processed-meat-market
A recent market research report added to the research report portfolio of Market Research Reports Search Engine (MRRSE) states that the GCC processed meat market will exhibit a remarkable 8.4% CAGR over the period between 2016 and 2024. As such, the market, which valued at US$760.7 mn in 2015, will rise to US$1.5 bn by 2024.
Economical and Healthy Poultry Processed Meat is GCC’s Top Choice
Of the key processed meat varieties available in the GCC market, the segment of poultry is presently the most lucrative. The segment accounted for the dominant share in the revenues of the GCC processed meat market and is also expected to emerge as the most attractive processed meat variety in the market over the next few years. Several factors, including the inexpensive nature of poultry meat, the low content of cholesterol in it, and the absence of trans fats, which can lead to coronary heart diseases, will allow the segment to retain prominence in the market.
The poultry meat segment accounted for a 43% of the GCC processes meat market in 2015 in terms of revenue. However, the lamb meat segment is expected to register strong growth of nearly 9% over the period between 2016 and 2024, outpacing the poultry meat segment over the said period. Said to possess the ability to lower the risk of cardiovascular diseases, the lamb meat segment will gain a prominent position in the GCC processed meat market in the next few years.
Frozen Processed Meats Gain Increased Demand
On the basis of product type, the segment of frozen processed meat type presently accounts for the dominant share in the market in terms of both volume and revenue. Frozen varieties of all kinds of processed meats are expected to gain increased prominence in the GCC market owing to the high demand for packaged and easy-to-use food products, especially among young consumers. The segment of chilled processed meat, on the other hand, does not enjoy similar popularity owing to their short shelf life. As a result, an increasing number of vendors are introducing products in the frozen processed meat category such as salamis and hot dogs.
Browse the full Press Release of GCC Processed Meat Market at :http://www.mrrse.com/gcc-processed-meat-market-report
The GCC processed meat market features a highly fragmented competitive and vendor landscape. The top six players in the market, namely Sunbulah Group, National Food Co., Gulf Food Industries, BRF SA, Al Islami Foods, and Almunajem, collectively held a merely 35% of the overall market in 2015. In the highly competitive market, companies are focusing on ways to diversify product offerings through innovations in tastes and packaging methods.