This industry comprises establishments primarily engaged in one or more of the following: (1) slaughtering animals; (2) preparing processed meats and meat byproducts; and (3) rendering and/or refining animal fat, bones, and meat scraps. This industry includes establishments primarily engaged in assembly cutting and packing of meats (i.e., boxed meats) from purchased carcasses.
The Animal Slaughtering and Processing industry (NAICS 31161) is experiencing several notable qualitative trends that are shaping its current and future landscape. One prominent trend is the increasing demand for transparency and animal welfare. Consumers are becoming more concerned about the origins of their meat products, emphasizing humane treatment and sustainable practices. This has led to a rise in certifications and labeling that highlight ethical standards, such as grass-fed, free-range, and organic options.
Another significant trend is the adoption of advanced technologies and automation. The industry is leveraging tools like artificial intelligence, robotics, and blockchain to improve efficiency, traceability, and food safety. These technologies are expected to streamline the production process, reduce waste, and enhance quality control.
Additionally, there is a growing interest in plant-based and alternative protein products. While these products are not a direct part of animal slaughtering, their emergence impacts industry dynamics by providing consumers with more choices and potentially reducing meat consumption. This shift is prompting traditional meat processors to diversify their product lines.
Looking ahead, it is forecasted that these trends will continue to influence the industry. Enhanced regulations around animal welfare and environmental impact are likely to be implemented, compelling companies to adapt. Moreover, the integration of cutting-edge technologies will become more widespread, leading to smarter and more sustainable operations. The demand for alternative proteins is also expected to grow, prompting traditional players to innovate and diversify to stay competitive.
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.