Meat Processing Standards Thrust Back into the Spotlight Following Coronavirus Outbreak
China Xiangtai Food Co., Ltd. - Ordinary Shares (PLIN)
Company Research
Source: PR Newswire
NEW YORK, Feb. 6, 2020 /PRNewswire/ -- Over the course of the last decade, advancements in technology have helped transform the livestock farming market. Precision livestock farming technology made traditional livestock farming activities more efficient and economical. Additionally, the increasing global demand for both meat and dairy products, extended profitability and high yield and its minimal impact on the environment and climate change are fueling the growth of the precision livestock farming market. As a result, it directly impacts the global meat industry. Meanwhile, the market value of processed meat is expected to cross the trillion-dollar mark by 2024, which is a phenomenal increase from its 2019 valuation of USD 587.15 Billion, according to data provided by Market Data Forecast. And as the demand for meat rises worldwide, so must the production of meat. In fact, most of the world's meat is produced in Asia, which generated 140 million metric tons of meat in 2016. Pork and
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