Fresh Meat Demand Uplifting the US Meat Industry
Ken research announced its recent publication on “Consumer and market insights: Meat in US”. It provides a comprehensive analysis on the meat market of United States. The report gives overall market value with growth analysis, the value and growth analysis of each category. Further it gives a detailed account of the leading players of the market, distribution data and packaging data. It also provides consumer level trends and future outlook.
United States is a constitutional federal republic country of North America. It is the third largest country by area and third most populous state. It is the largest economy of the world with nominal GDP of 18.56 trillion. Its currency i.e. the US dollar is the most used in the international transactions and world’s foremost reserve currency. The nation has a mixed economy and is dominated by the service sector. USA has been able to maintain a stable growth rate, moderate unemployment rate and high level of investment, productivity and research & development over the years. This country is rich in its natural resources and has a well developed infrastructure. It is one the largest trading nation in the world and its main trading partners are Canada, China, Mexico, Japan, Germany, South Korea and United Kingdom.
The population is very large but the population density is quite low. The people primarily live in the urban area but the current rate of urbanization is slower than the world median. The immigration rate is very high as people are attracted to the plethora of opportunities present in this country. The country has low birth rate and average death rate. The education attainment rate is high but the literacy rate is lower than the world median. People suffer from high obesity as over one third of the adults are obese.
The meat and poultry industry are the largest segments of the US agriculture sector. The main sub segments of the meat industry is Ambient Meat, Chilled Raw, Packaged Meat – Processed, Chilled Raw Packaged Meat – Whole Cuts, Cooked Meats – Counter, Cooked Meats – Packaged, Fresh Meat (Counter), Frozen Meat. Fresh meat (counter) occupies the highest volume share in the overall meat market. American’s are known for their heavy meat consumption and it has one of the highest consumption of per capita meat. Not only domestic consumption but the US scores high in the export of meat as well. However, due to intensified competition in the industry it is becoming increasingly difficult for the retailers. This Coupled with the expected fall in prices has put the profit margin for the sellers at risk.