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Pork consumption in the EU declined from 2007 to 2014. Now, competitive power and market position are pivotal to success in this dynamic European pork industry, says Rabobank.
In its report, The EU Pork Industry: Competitive Power Is Key, Rabobank finds there are five key success factors of EU pork processors: cost competitiveness, sourcing, efficiency, market approach and client access.
The recent decline in pork consumption was triggered by two developments: higher pork prices due to feed cost increases and trading down to cheaper proteins due to the economic crisis. These developments collided with three longer term trends of the last decades: consumer preference for convenience and processed meat products containing less meat; the increase in meat restricted diets for environmental, ethical, animal welfare and health reasons; as well as various meat scandals in the EU.
Rabobank believes the EU pork industry will see few opportunities for margin improvement in the coming years.
"To remain profitable and in business beyond 2025, EU pork processors must make a strategic decision regarding their positioning," comments Rabobank animal protein analyst Albert Vernooij.
This decision should be based on the current company status and the five key success factors identified above.
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