LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global veal meat market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global veal meat market will grow at a CAGR of more than 2% during the forecast period. The meat of younger animals is more tender and softer than older animals, which is emerging as a major factor driving the market’s growth. Moreover, the meat obtained from grass-fed calves that are raised under proper conditions and fed with natural milk is more nutrient dense.
Another growth driver for the global veal meat market is the increasing export and import of veal meat products worldwide. In terms of trade, the exports of beef and veal meat from Japan, Mexico, South Korea, Hong Kong, and China (Taiwan) have increased over the past couple of years and are expected to increase further during the forecast period.
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The three emerging market trends driving the global veal meat market according to Technavio research analysts are:
- Increasing demand for grass-fed and organic veal
- New veal processing and packaging technology
Increasing demand for grass-fed and organic veal
One of the trends that is influencing the growth of the global veal meat market during the forecast period is the increasing demand for grass-fed and organic veal among consumers. The value-added benefits of grass-fed veal, such as better taste and high nutritional values, are the reasons backing its demand.
However, grass-fed veal is priced higher than regular veal. So, this might influence the purchase decisions of consumers who are on a tight budget. Manufacturers in the market are coming up with new grass-fed veal products to cater to the increasing demand from consumers.
According to a senior analyst at Technavio for food research, “The rising awareness about the health advantages of organic foods is driving the demand for organic veal. The players in the market are coming up with new, certified varieties of organic veal to target consumers. Thus, many manufacturers like Peelham Farm, Ferme Céline Tremblay, AGRILICIOUS SPC, and others offer organic veal varieties. It is expected that many more vendors will enter the segment during the forecast period.”
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Global veal meat market segmentation
This market research report segments the global veal meat market based on product such as processed veal meat and fresh veal meat and three major regions, including the Americas, APAC, and EMEA.
The Americas was the leading region for the global veal meat market in 2017, accounting for a market share of close to 44%. APAC and EMEA followed the Americas with a relatively equal market share. The market share of the three regions remained more or less constant over the forecast period with very little variation.
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