The processed-meat industry is currently experiencing a period of rapid expansion. As the Food Processing Suppliers Association (FPSA) has noted, the sector is expected to grow at a compounded annual growth rate (CAGR) of 14.3 percent from 2013 to 2018, reaching $799 billion by 2018. These projections are the result of two key factors: the change in food demand and a marked improvement in the technologies involved in meat processing.
However, in order to keep pace with this growth and meet changing consumer needs and expectations — while also maximizing revenue and profits — organizations have realized they need to make investment in their research and development (R&D) activities a priority. It is necessary for meat processors to look for innovative solutions across all regions and develop cheaper production techniques, which will further drive down the price of the final product. Successful companies will find and source ingredients that are not only cheap and effective, but which are also healthy.