PROSPECTS AND OPPORTUNITIES
Continuous decline for shelf stable options due to health-conscious trend
The health and wellness trend is expected to gain further momentum among local consumers over the forecast period, driving a shift in buying behaviour within processed meat, seafood and alternatives to meat. In particular, concerns about heavily processed ingredients, artificial preservatives, and the nutritional value of non-perishable food is leading local consumers to prioritise fresh, minimally processed options over shelf stable options.
Continuous development of meat and seafood substitutes with focus on local dining habits
With greater attention to mindful eating and increasing awareness of diets without meat, the development of meat and seafood substitutes in Hong Kong is expected to continue at a steady pace over the forecast period. Local consumers appreciate Asian cuisine, where seafood and meat-based dishes have long been culinary staples.
Tofu and derivatives offers alternative option to meat and seafood substitutes
Despite predictions for a fairly flat performance over the forecast period, the health and wellness trend is still likely to support demand for tofu and derivatives, with retail volume sales remaining considerably higher than meat and seafood substitutes, due to its more established position in Asia Pacific.
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Overview:
Understand the latest market trends and future growth opportunities for the Processed Meat, Seafood and Alternatives to Meat industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Processed Meat, Seafood and Alternatives to Meat industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Processed Meat, Seafood and Alternatives to Meat in Hong Kong, China report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Processed Meat, Seafood and Alternatives to Meat in Hong Kong, China?
- Which are the leading brands in Processed Meat, Seafood and Alternatives to Meat in Hong Kong, China?
- How are products distributed in Processed Meat, Seafood and Alternatives to Meat in Hong Kong, China?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Processed Meat, Seafood and Alternatives to Meat?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Hong Kong, China?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Processed Meat, Seafood and Alternatives To Meat in Hong Kong, China - Category analysis
KEY DATA FINDINGS
Foodservice channel remains leading growth driver of category
Competition from Shenzhen brings threats to retail volumes in Hong Kong
Meat and seafood substitutes continues to grow but at a slower rate
Continuous decline for shelf stable options due to health-conscious trend
Continuous development of meat and seafood substitutes with focus on local dining habits
Tofu and derivatives offers alternative option to meat and seafood substitutes
Staple Foods in Hong Kong, China - Industry Overview
Staple foods in 2024: The big picture
Key trends in 2024
Competitive Landscape
Channel developments
What next for staple foods?
DISCLAIMER
The following categories and subcategories are included:
Processed Meat, Seafood and Alternatives to Meat
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- Shelf Stable Processed Red Meat
- Shelf Stable Processed Poultry
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- Chilled Processed Red Meat
- Chilled Processed Poultry
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- Frozen Processed Red Meat
- Frozen Processed Poultry
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- Shelf Stable Seafood
- Chilled Processed Seafood
- Frozen Processed Seafood
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- Chilled Meat and Seafood Substitutes
- Frozen Meat and Seafood Substitutes
- Shelf Stable Meat and Seafood Substitutes
- Tofu and Derivatives
Processed Meat, Seafood and Alternatives to Meat
This is the aggregation of processed meat, processed seafood and meat and seafood substitutes.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Processed Meat, Seafood and Alternatives to Meat research and analysis database.
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