Report Published: "Processed Meat and Seafood in Hong Kong, China"

In 2015, WHO announced that there was sufficient evidence linking processed meats like ham, sausages and bacon to colorectal cancer. This announcement was picked up my most media outlets across the world and subsequently attracted much public attention. In Hong Kong, most consumers have become aware that processed meat increases the risk of cancer. However, WHO’s ruling did not have a strong impact on the category’s performance, mainly because the announcement was made only in the last quarter of 2015. Moreover, the majority of consumers who eat processed meat regularly have not witnessed any negative effect on their health. Thus, they do not see a strong need to reduce their consumption of processed meat as a result of WHO’s announcement.

Competitive Landscape

AS Watsons Group led processed meat and seafood in 2015 with a 12% retail value share, followed closely by Dairy Farm International Holdings Ltd, with an 11% share. Both companies leveraged on the strong performances of their private label brands, First Choice and Best Buy, respectively. With the economy slowing down, many consumers are cautious about spending. These private label brands were preferred by many consumers due to their lower prices.

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Industry Prospects

Processed meat and seafood is projected to see a 1% retail value CAGR at constant 2015 prices over the forecast period. This is an improvement on the marginally negative review period CAGR at constant 2015 prices. The demand for processed meat and seafood is likely to remain unaffected by WHO’s ruling. Processed meat is a key component of the local diet and most people have grown accustomed to consuming such products over many years. It would therefore be difficult for consumers to change this eating habit overnight. Moreover, with the rising demand for convenience, consumers will continue to prefer processed meat and seafood as they are easier to cook and prepare than fresh options.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Processed Meat and Seafood industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Processed Meat and Seafood industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Processed Meat and Seafood in Hong Kong, China market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares

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