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Meat market may rise 10%
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China’s meat market may grow 10 percent annually in coming years despite a slower increase in supply as consumers shift to higher value-added products, Rabobank said yesterday.
Packaged chilled meat, ready-to-eat meat, and more costly varieties such as beef and lamb will continue to be more popular on Chinese consumers’ table as their living standard rises, the Netherlands-based agricultural bank said in a report.
“The shares of beef, mutton and poultry have increased as these meats offer an alternative flavor,” said Pan Chenjun, author of the report. “Moreover, processed meats, such as ham and sausage, are serving as a replacement in traditional home-cooked dishes due to a faster-paced lifestyle.”
The total value of the meat market grew over 15 percent on average every year in the past decade, while pork’s share of total meat consumption had fallen from 80 percent in 1985 to 65 percent in 2011, Pan said.
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