Middle East Sheep Meat Market To Be Driven By Cultural And Religious Significance In The Forecast Period Of 2021-2026
The new report by Expert Market Research titled, ‘Middle East Sheep Meat Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2021-2026’, gives in-depth analysis of the Middle East Sheep Meat Market, assessing the market based on its segments like type, product, offerings, end-use, distribution channel, and major region. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026): –
- Historical Market Size (2020): 15619.58 CWE Tons
- Forecast CAGR (2021-2026): 1.8%
- Forecast Market Size (2026): 17076.87 CWE Tons
The market is being aided by increased animal husbandry activities in Middle Eastern countries as a result of rising domestic demand for sheep meat. Furthermore, the popularity of wet markets, butchers, and small corner stores is fueling market expansion. The appeal and cultural relevance of home-cooked sheep meat foods like as kebabs, kofta, and stews are also driving market expansion. Sheep foods are also connected with important religious and family festivities, as well as gift-giving, all of which contribute to market growth. The increased need for ready-to-eat and ready-to-cook food, as well as the growing popularity of quick casual dining among millennials and the Middle East’s expatriate population, are all contributing to the industry’s expansion.
Industry Definition and Major Segments
Sheep meat is made up of lamb, hogget, and mutton from domestic sheep. It’s one of the best sources of high-quality protein, including all of the essential amino acids needed for body growth and maintenance. Phosphorus, iron, and Vitamin B12 are among the minerals and vitamins found in it.
The types of sheep meat are:
The market can be broadly categorised on the basis of products into:
Based on the offerings, the market is segmented into:
On the basis of end use, the market is divided into:
The major distribution channels of sheep meat are:
Based on region, the market is segmented into:
- Saudi Arabia
- United Arab Emirates
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Sheepmeat is a rich source of high-quality protein with a low-fat content that appeals to a wide range of consumers. Rising desire for Ready-To-Cook and Ready-To-Eat food goods among millennias around the world, as well as the incorporation of healthier food products, is fueling demand for sheep products. Consumption is influenced by cultural variables and is expected to rise as the population and income levels rise. As a result, the market for sheep meat is likely to grow, though at a slower rate. The global decline in sheep headcounts is coming to a standstill, and prices are rising, leading to a drop in demand and a more targeted approach to purchasing in other markets. The industry is also growing due to the expansion of retail chains and the rising demand for frozen meat products. Government investments to host significant world events, such as the World Cup and the World Expo, as well as the resulting development of the hotel and foodservice industries, are expected to drive industry growth. Despite the market being hampered by the COVID-19 pandemic, which resulted in strict lockdowns, collapsing oil prices, and decreased disposable income, the robust government response and healthcare system upgrade are likely to boost market growth. People are consuming more protein and vitamin-rich food products to strengthen their immunity, which is driving up sales of sheep meat, which is catalyzing market growth for sheep meat.
Key Market Players
The major players in the market are Alin Meats Co., Golden Meat Company Ltd., Meat Hub., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Source: Financial Content