SOURCE: The Bedford Report
NEW YORK, NY--(Marketwire - Jun 29, 2011) - Despite the global economic downturn of the past few years, analysts argue the outlook for the meat sector remains strong, with the global meat demand expected to grow close to 40 percent by 2025. The growth is primarily being driven by changing diet patterns in Asia -- particularly China. The Bedford Report examines the outlook for companies in the meat products industry and provides equity research on Zhongpin, Inc. (NASDAQ: HOGS) and Tyson Foods, Inc. (NYSE: TSN). Access to the full company reports can be found at:
In 2009, China produced a total of 76.5 million tonnes of meat, an increase of 5 percent over 2008, accounting for 29 percent of the world's total production -- making China the largest meat producer in the world. Despite being the world's largest meat producer, China imported 1.38 million tonnes of meat in 2009 to fill a gap in supply.
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Presently, pork is the most popular meat in China. Zhongpin is a meat and food processing company that specializes in pork and pork products, vegetables and fruits in China. The company recently posted a 40 percent year-on-year surge in first quarter revenues as the company says it "built up its brand image and brand recognition through general advertising display promotions and sales campaigns."
US-based Tyson Foods says its Chinese operations are "focusing on the less competitive poultry market -- a market which also has more room for growth."
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