The Business Research Company’s Poultry Market Report – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 12, 2020 /EINPresswire.com/ — Technological advances are expected to drive the global poultry market size during the forecast period. New practices involve the use of wireless technologies, and GPS positioning and lasers for tracking meat production and packaging. Meat producing and packaging companies are also expected to integrate big data analytics, internet of things (IoT), robotics and other technologies into their production and packaging practices. These technological developments are expected to drive global poultry production going forward.
The global poultry market size reached a value of nearly $319.2 billion in 2019, having grown at a compound annual growth rate (CAGR) of 5.5% since 2015, and is expected to grow at a CAGR of 6.1% to nearly $405 billion by 2023.
The demand for ready-to-eat food that also includes poultry foods has increased, thus resulting as an emerging trend in the poultry market share. Busy lifestyles are keeping people away from cooking meals; therefore, many of them are dependent on ready-to-eat foods as it saves time and energy. Ready-to-eat meals are available as frozen foods, canned foods, ready-to-eat snacks, meals, chilled foods and more. For instance, according to a research from IGD – a research and training charity in the food and consumer goods industry of the UK – predicted that UK’s food-to-go sector that includes convenience and ready-to-eat foods, is expected to reach £23.4 billion ($30.08 billion) by 2024.
Another poultry market trend adopted by poultry processing companies is the increasing use of 3D imaging systems to optimize yields. 3D imaging systems model the poultry bird using sensors and actuators to determine the position of cut. The bird is put under the vision system, which takes the images and measurements and determines the geometry. Near-infrared sensors determine the amount of meat and bone present in the bird. Vision analysis enables the system to perform optimal cuts for each bird regardless of the size and shape. It is a data-driven process which maximizes the yield and minimizes per unit cost for poultry meat processing. Major companies involved in pioneering this technology include Gainco, a meat and poultry equipment manufacturer, and Midwest Machine LLC. In July 2020, KFC announced to introduce new laboratory-produced 3D printed chicken nuggets.
The poultry market share consists of sales of poultry by entities (organizations, sole traders and partnerships) such as meat processors and poultry farms that breed and/or raise poultry and sell the meat after slaughter, either at their own premises or through a third party which is engaged in preparing processed poultry and its byproducts. Poultry includes birds and white meats such as chickens, ducks, geese, rabbits, small game and turkeys. Poultry processing is fully or semi-automated in most countries. The companies in the industry package and distribute meat and meat products through various distribution channels to both individual customers and commercial establishments such as hotels and restaurants.
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Source: EIN Presswire