The Japan meat products market is expected to grow primarily due to a significant increase in livestock production. Pork sub-segment is expected to flourish immensely in the forecast period owing to increasing preference for pork among Japanese people.
NEW YORK, Feb. 10, 2023 /PRNewswire/ —
Japan Meat Products Market Forecast Analysis:
As per the report published by Research Dive, the Japan meat products market is expected to register a revenue of $25.3 billion by 2031 with at a CAGR of 3.1% during the forecast period 2022-2031.
Segments of the Japan Meat Products Market
The report has divided the Japan meat products market into the following segments:
Processed Meat Type: hamburger, sausage, kebabs, and nuggets
Meat Type: Beef, Pork, Chicken & Mutton, and others
Packaging: Chilled, Frozen, and Canned
Processed Meat Type
Sausage – Most dominant market share in 2021
The distinctive characteristics of Japanese sausages such as crispy skins and Arabiki sausages
Pork – Highest market share in 2021
Japanese people place special emphasis on pork due to its taste, succulence, and tenderness.
Frozen – Largest market revenue in 2021
Rise in the demand for organic frozen foods among consumers is anticipated to push this
Dynamics of the Japan Meat Products Market
Increasing livestock production in Japan is expected to become the primary growth driver of the Japan meat products market in the forecast period. Additionally, significant increase in household meat consumption is predicted to propel the market forward. However, according to market analysts, availability of meat substitutes might become a restraint in the growth of the market.
Growing emphasis on protein intake by the geriatric population of Japan is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, new product launches by major companies are expected to propel the Japan meat products market forward in the coming period.
COVID-19 Impact on the Japan Meat Products Market
The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The Japan meat products market, too, was negatively impacted due to the pandemic. The Japanese government, like many other countries, imposed travel restrictions and lockdowns which brought down the demand for meat products. The disruption of supply chains also hampered the supply of finished goods. Both these factors ultimately led to a decline in the growth rate of the market.
Key Players of the Market
The major players of the Japan meat products market include
- NH FOODS LTD
- STARZEN CO. LTD.
- SANKYOMEAT INC.
- ITOHAM FOODS INC.
- MARUBENI CORPORATION
- LACTO JAPAN CO. LTD.
- NICHIREI CORPORATION
- SOJITZ CORPORATION
- TYSON FOODS INC.
- JOHNSONVILLE JAPAN LLC
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.
For instance, in June 2021, Prima Meat, a leading meat and ham maker in Japan, announced the acquisition of Rudi’s Fine Food Pte. Ltd., a Singaporean meat company. This acquisition will help Prima Meat to increase its presence in the South Asian market and thus cater to the demands of Japanese meat product lovers in this region.
What the Report Covers?
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter’s five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Japan Meat Products Market:
- What are the Most Popular Meat Products in Japan? And What Are Their Health Benefits?
- Japan Meat Products Market to Perceive Massive Growth with Rising Popularity and Demand for Meat
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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