The meat and poultry business in Asia is expected to grow at a CAGR of 4.7% from 2022 to 2028, reaching a value of USD 737.0 billion by 2028.
The growth of the meat and poultry business in Asia is being driven by a number of factors, including:
- Increasing demand for protein: The growing population in Asia is leading to an increasing demand for protein. Meat and poultry are good sources of protein, and their consumption is expected to grow in the coming years.
- Rising affluence: The rising affluence of the Asian population is leading to an increase in demand for processed and convenience foods, which often contain meat and poultry.
- Changing dietary habits: There is a growing trend in the meat industry towards healthier eating habits in Asia, and this is leading to an increase in demand for white meat, such as chicken and turkey.
- Growing urbanisation: The growing urbanization in Asia is leading to a change in lifestyle, with people having less time to cook. This is creating demand for convenient and ready-to-eat meat and poultry products.
The meat and poultry industry across Asia is characterised by its diversity, with unique growth drivers varying between countries. This dynamic sector is poised for continued expansion, underpinned by factors such as population growth, increasing affluence, and evolving dietary preferences within the Asian demographic.