Turkey Meat Products Market Overview:
Meat sourced from turkey is a popular poultry product in North America. It is a valuable source of protein and a good substitute for chicken meat.
Market Research Future (MRFR) has studied the trends and patterns governing the global Turkey Meat Products Market Share over the forecast period of 2020-2027 in an in-depth study. The turkey meat products market is poised for steady growth and is anticipated to reach high growth figures by 2027.
Turkey contains half the saturated fat of boneless chicken and absorbs the flavors of added spices and marinades well which makes it popular in various soup and stew recipes. Turkey met is used in the preparation of various traditional dishes in festivals such as Thanksgiving and Christmas. Demand for animal protein as well as growing awareness regarding the ill effects of consumption of pork and beef has further boosted the demand for turkey meat products.
Turkey meat is low in digestible fat, cholesterol, and is the leanest among poultry meat. It is almost organically grown and is resistant to various diseases; they can be bred without the use of many antibiotics which makes it safe for consumption. Turkey is increasingly becoming popular among health-conscious people who is boosting the growth of the turkey meat products market.
Improvement in breeding programs and emphasis on factors such as feed intake, liability, and reproduction traits have also been advantageous for the market growth. Advances in the mechanization process of turkey products along with improvement in storage and packaging are substantiating the growth of the market.
However, low-fat content in turkey makes it lean meat which is not compatible with consumers' taste as it is less flavorful and tasty. Besides, the availability of other meat products remains a challenge to the growth of the market. The high price of turkey feed also remains a significant challenge to market growth. The protein levels required in the diet of turkeys is considerably higher than those in chicken which restricts turkey breeding.
Competitive Landscape:
Conagra Brands, Inc. (US), Shady Brook Farm (US), Hormel Foods, LLC (US), Copas Traditional Turkeys (UK), Hannaford Bros. Co., LLC (US), Land O’ Frost (US), Gardein (Canada), Kraft Foods (US), Cargill, Incorporated (US), Bernard Matthews (UK), and others are the distinguished players in the global turkey meat products market.
Segmentation:
The global Turkey Meat Products Market Trends has been segmented based on product type, category, and distribution channel.
By product type, the turkey products market has been segmented into whole, cut, ground, sausage, and others.
By category, the turkey meat products market has been segmented into frozen, fresh, and others.
By distribution channel, the turkey meat products market has been segmented into store-based and non-store-based. The store-based segment has been further segmented into hypermarkets and supermarkets, specialty stores, and others.
Regional Analysis:
By region, the turkey meat products market has been segmented into North America, Asia Pacific (APAC), Europe, and the Rest-of-the-World (RoW).
North America accounts for the lion's share of the global turkey meat products market. The consumption of turkey is indigenous to the US and Mexico where turkey dishes form a part of the traditional meals. Moreover, turkey dishes are popular in festivals of these regions. In addition, the growing popularity of turkey-based dishes such as Pilgrim sandwiches, hot brown, and smoked turkey legs are fueling the growth of the market.
The Europe turkey meat products market is expected to score the highest CAGR over the forecast period. Increasing consumption of turkey meat products due to increasing awareness regarding the health benefits associated with it are fostering market growth.
APAC market being one of the world's largest food service regions in the world holds ample opportunities for the growth of the turkey meat products market. Changing food consumption patterns due to Western influence and increasing disposable incomes are likely to favor the growth of the market.
Industry Updates:
March 2019 - Stop & Shop, a US-based chain of supermarkets, announced the launch of a range of turkey meats featuring unique flavor combinations, Inspirations Deli Meats.
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