New Opportunities for Animal Protein in China: Looking Beyond Covid-19 and African Swine Fever
China’s animal protein market has experienced great volatility in recent years. African swine fever (ASF), Covid-19, and shifts in distribution channels are not only reshaping the supply side, but also the way consumers behave. Some of these changes will continue to play out over the longer term.
Download the full report
Consumer markets have changed greatly in response to these drivers, and they will keep changing. Major trends we see driving future change include more diversified consumer groups, more blurring of the distinction between various market segments and channels, and a higher demand for convenience and smaller packaging,” according to Chenjun Pan – Animal Protein Senior Analyst.
Among the major animal proteins, pork consumption has seen the greatest changes in recent years, as a result of ASF. Pork consumption is also elastic to price change under specific conditions, and, given that ongoing price volatility is likely, it will remain responsive to price. Poultry is facing challenges relating to supply chain reshaping, but will grow along with c-stores and the overall demand for convenience foods. Beef, which used to be consumed mainly in eating-out-of-home channels, is now finding ways to penetrate into home consumption, which might open new opportunities for beef market growth.
Where to go from here
Chenjun PanSenior Analyst - Animal Protein Read more