Market Trends of Global Peanut Meal Industry
This section covers the major market trends shaping the Peanut Meal Market according to our research experts:
Growing Demand for Meat and Aquaculture Products is Driving the Market
The worldwide economic downturn has had a very limited effect on the global meat market, which has maintained its positive outlook. The highest growth of meat consumption is expected from the Asia-Pacific and South American regions because of changing diet patterns, urbanization, population, and economic growth. For example, the Chinese demand for meat continues to surpass the domestic supply, according to report by Agriculture and Agri-food Canada. Fish are low in fats, cholesterol, and carbohydrates. Although not very high in protein, fish also provide essential vitamins and amino acids. The demand for seafood is increasing rapidly as more and more people are becoming aware of the health benefits of fish consumption. Globally increasing population trends are also supporting the growth of the world meat and seafood market. Increasing life expectancy and limited availability of land and water resources for animal feed production, and increasing use of these resources for food and ethanol production are increasing the demand for animal feed in the global meat industry. The growing demand for meat and seafood is inturn likely to boost the peanut meal market as it would ensure that there is a steady demand for animal feed that includes peanut meal, in the coming years.
North America Leads the Peanut Meal Market
North America accounts for the majority of share of the peanut meal market. The market in this region is characterized by the rising demand and consumption of nutmeals and high disposable incomes of the consumers allowing them to incorporate a good high-protein diet, with a high meat consumption. This increased demand for meat protein has triggered meat production in the region, especially in the countries of United States, Mexico,and Canada, where the uptake of peanut meal as feed has increased and is expected to show a healthy growth rate. Apart from improving nutritional value peanut meal feed is gaining importance for their role in meat quality improvement.
