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- #30 The Meat Traders' Journal
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The Meat Trader’s Journal #30
China’s pork import drop, Danish Crown under scrutinity, Unlimeat’s vegan BBQ, Brazil chicken export halt
The meat industry faces significant shifts in global trade dynamics, regulatory scrutiny, and plant-based innovations, reshaping market strategies for traders and producers alike.
🔓Market Movers & Shakers Intel
The Rise of the Frozen Food Market
The frozen food market is witnessing notable growth, driven by the increasing demand for convenience, health, and shelf-stable products. Improvements in freezing technology and packaging have enhanced the quality and nutritional value of frozen foods, appealing to health-conscious consumers. The COVID-19 pandemic accelerated this trend as more people stocked up on non-perishable items.
The market size, valued at USD 3.14 billion in 2022, is projected to reach over USD 4.26 billion by 2029, with a CAGR of 3.9%. This growth is supported by the expansion of online grocery shopping, making frozen foods more accessible than ever. Key industry players like Nestle, General Mills Inc., and Tyson Foods Inc. are at the forefront, with North America leading the market, followed by Europe and the Asia-Pacific region.
Key Trends and Opportunities
Convenience and Quality: Consumers increasingly prioritize convenience without compromising on quality and nutritional value. Advanced freezing technologies preserve the taste and nutrients of food, making frozen products an attractive option.
Pandemic Impact: The pandemic heightened the demand for frozen foods as consumers sought long-lasting, easily storable options. This shift in buying habits has had a lasting impact on market dynamics.
Online Grocery Shopping: The rise of e-commerce has made frozen foods more accessible, driving market growth. Consumers can now easily purchase a wide variety of frozen products from the comfort of their homes.
Market Leaders: Companies like Nestle, General Mills Inc., and Tyson Foods Inc. are dominating the market, leveraging innovation and extensive distribution networks to cater to the growing demand.
The Role of Frozen Pork and Red Meats
Frozen pork and other red meats play a significant role in the frozen food market. These products cater to consumers looking for high-protein, nutritious meal options that are easy to store and prepare. The freezing process helps in maintaining the meat's quality and extending its shelf life, making it a practical choice for households and foodservice providers alike. Additionally, frozen pork and red meats are pivotal in meeting the growing demand for convenient, ready-to-cook meals.
Regional Insights
North America: Leading the market with a high demand for convenient and healthy food options.
Europe: Following closely, with a strong emphasis on quality and variety in frozen foods.
Asia-Pacific: Showing significant growth potential, driven by urbanization and changing consumer lifestyles.
Future Outlook
The frozen food market is set for continuous growth, driven by technological advancements, evolving consumer preferences, and the increasing adoption of online grocery shopping. Businesses in this sector have substantial opportunities to innovate and expand their product offerings to meet the diverse needs of consumers.
I will send in the What’s App Group Chat, the update of Pork and Beef Imports Summary for Korean Market. Like the pictures it comes once a month.
If you are not in the group, check here.
Example:
Pork Summary
🏆Highlighting the relevant stories from top-down
TL;DR:
→ World pig production: Chinese imports to fall to 2018 levels
→ China investigates Danish Crown, Vion, and Litera Meat
→ Unlimeat launches vegan Korean BBQ at Sprouts
→ Brazil halts all chicken exports to China due to virus
World pig production: Chinese imports to fall to 2018 Levels
Publisher: Pig333 (19/07/2024)
Global pork production is projected to increase by 1% in 2024, with China's imports expected to decline significantly.
Key Points:
World pork production is forecast to reach 108 million tonnes in 2024, a 1% increase from 2023.
Chinese pork imports are predicted to fall to 1.5 million tonnes, the lowest level since 2018.
Brazil is expected to see a 3% growth in pork production, driven by increased exports to China and Southeast Asia.
Laura's POV: The projected decline in Chinese pork imports signals a major shift in global trade dynamics. Traders should reassess their export strategies and explore emerging markets to offset potential losses in the Chinese market.
China Investigates Danish Crown, Vion & Litera Meat
Publisher: Pig333 (20/07/2024)
China launches anti-subsidy investigation into pork imports from Denmark, the Netherlands, and Spain, targeting major producers.
Key Points:
The investigation focuses on alleged subsidies received by Danish Crown, Vion, and Litera Meat from 2019 to 2023.
China's pork imports have declined by 41% in the first five months of 2024 compared to the same period last year.
The investigation is expected to last for one year, with possible extensions up to 18 months.
Laura's POV :This investigation could significantly disrupt European pork exports to China. Traders should closely monitor developments and prepare contingency plans for potential trade barriers or shifts in market access.
Unlimeat launches Vegan Korean BBQ at Sprouts
Publisher: Plant Based News (18/07/2024)
Unlimeat introduces plant-based Korean BBQ at Sprouts Farmers Market, expanding the availability of vegan meat alternatives.
Vegans don’t need to miss out on Korean BBQs by Unlimeat
Key Points:
Unlimeat's vegan Korean BBQ is now available at over 380 Sprouts locations across the United States.
The product is made from non-GMO textured wheat protein and features a Korean BBQ marinade.
This launch represents a growing trend of international plant-based meat alternatives entering the U.S. market.
Laura's POV: The expansion of plant-based meat alternatives into mainstream retailers signals a shift in consumer preferences. Meat traders should consider diversifying their portfolios to include plant-based options to stay competitive in evolving markets.
Brazil halts all chicken export to China due to virus
Publisher: American Journal of Transportation (21/07/2024)
Brazil suspends chicken exports to China following the detection of avian influenza cases in commercial flocks.
Key Points:
The suspension affects all Brazilian chicken exports to China, Brazil's largest poultry market.
This marks the first time Brazil has reported avian influenza in commercial flocks, potentially impacting its disease-free status.
The duration of the export halt remains uncertain, pending further investigations and containment efforts.
Laura's POV: This sudden disruption in Brazil's chicken exports to China could create significant market opportunities for alternative suppliers. Traders should closely monitor the situation and be prepared to fill potential supply gaps in the Chinese market.
🗺️Trends - Discussion
👀 Pork Demand in America is low! Will improve?
Demand for pork is unusually weak for the summer grilling season, resulting in lower hog prices. The USDA has reduced its hog price forecast by $2.12 to $59.13 per hundredweight for this year and predicts a further decrease of nearly $0.40 next year. The Pork Board is addressing a generational divide among buyers and working to attract new consumers.
See VIDEO here.
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💎Did you know?
Pork is Red Meat.
Some people with a red meat allergy, often caused by a lone star tick bite, might still be able to eat genetically altered pork.
Despite a popular marketing campaign in the 1980s that labeled pork as "the other white meat," it is actually classified as red meat, like lamb and beef.
Research in pig transplants has found that genetically modified pig meat can be safely consumed by some individuals with a red meat allergy. A company responsible for these pigs even ships frozen meat products, such as bacon, ribs, and ham, to patients with this specific allergy.
For more details, read the full article here.
For the Video here below:
That's all for this week!
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Stay tuned for more updates next week.
Warm regards,
Laura Valls