Global Duck Meat Products Market size is estimated to reach USD 2.2 billion by 2024 and the market is expected to register a growth rate of 4.5% during the forecast period of 2019 to 2024. The willingness of end users to incorporate different meat types in diets is spurring the development of the duck meat product market. Reports that appraise the food, beverage, and nutrition industry have been presented by Market Research Future, which creates reports on industry verticals that assess the market development and prospects. The market is expected to note surging growth in its CAGR and revenue in the forecast period.
Duck meat has increased nutritional content and a distinctly different flavor profile that is expected to grow its market stake in the upcoming period. The improvement in processing and packaging technologies is also expected to favourably back the development of the duck meat product market. Moreover, increasing innovation in duck meat products is expected to boost market development in the forecast period.
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The global economies are reacting to the market forces by implementing favourable policies and cutbacks so as prevent a slowdown in the progress of the market. Moreover, the rise in International transactions is anticipated to bolster the expansion of the market considerably. The changes in the income levels globally are contributing to the growth of the market. The rise in individual discretionary spending is anticipated to lead to the progress of the market. The enhancement of the distribution channels is projected to motivate market growth relatively. The conducive nature of the monetary and fiscal policies is likely to lead to solid growth in the market. The positive effect exerted by governments in the development of the market is expected to guide the market towards sound progress in the coming years. The disequilibrium noticed in the forces that are backing the growth of the market is expected to lead to a relatively slow pace of the growth.
Delpeyrat SAS, Pepe’s ducks ltd (Australia), Maple Leaf Farms, Inc. (US), AJC International, Inc. (US), Shandong New Hope Liuhe Group Ltd. (China), and Courtin Hervouet (France) are the chief players in the duck meat products market globally.
Feb 2019 Charoen Pokphand Foods (CPF), a Thailand-based company, is set to utilize the demand for duck meat by targeting South Korea, Hong Kong, and Australian export markets. As per its export growth strategy, CPF is scheduling an increased delivery of its product in Hong Kong and South Korea, which it has identified as two key markets for duck meat products.
The segmental analysis of the Duck Meat Products Market has been carried out on the basis of product type, distribution channel, category, and region. On the basis of product type, the duck meat products market has been segmented into cuts, sausages, ground, and others. Based on the category, the duck meat products market has been segmented into fresh, frozen, and others. Based on the distribution channel, the duck meat products market has been segmented into non-store-based and store-based. The store-based segment is additionally segmented into specialty stores, supermarkets & hypermarkets, and others. On the basis of regions, the duck meat product market is segmented into North America, Europe, APAC, and the rest of the world.
Detailed Regional Analysis
The evaluation of the regions in the duck meat product market comprises of regions such as North America, Europe, APAC, and the rest of the world. As per the analysis, the Asia Pacific region is anticipated to govern the duck meat products market through the forecast period. The region’s control can be credited to a range of factors such as the shifting eating patterns and growing per capita disposable income. The increasing awareness concerning the health benefits related to the consumption of duck meat products in the European consumers is likely to increase the share of the market significantly in the European region in the forthcoming years. However, the North American region is expected to record the maximum CAGR owing to the altering consumption patterns of individuals and the growing population in the region.
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