The size of the global processed meat market was strong in 2020 and is expected to demonstrate a consistent revenue compound annual growth rate (CAGR) throughout the projected period. The market's growth is primarily influenced by two key factors: the fast-paced lifestyles of consumers and their inclination to spend less time on cooking. This has led to a rise in consumer demand for ready-to-eat and ready-to-cook foods, which is observed in both developed and developing economies and contributes to the overall expansion of the market.
Processed meat refers to meat that has undergone processing involving the addition of various additives and preservatives such as acidifiers, minerals, salts, and a range of seasoning and flavoring agents. The primary objectives of processing meat are to enhance its quality, prevent spoilage, and augment its natural taste. Meat from different sources, including red or white meat from swine, poultry, cattle, or sea animals, can be utilized. The market growth is further driven by the increasing consumption and acceptance of ready-to-eat and ready-to-cook products among millennials.
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Top Companies Operating in the Global Processed Meat Market Report:
- Cargill
- ConAgra
- Tyson Food Inc
- Advance Food Company
- Pilgrim’s Pride Corp
- JBS S.A.
- Foster Farms
- Hormel Food Corp.
Driving Factors of Processed Meat Market
- Convenience: Processed meats, such as sausages, bacon, and deli meats, are popular due to their convenience. They are often pre-cooked, pre-sliced, and ready to eat, making them a convenient choice for quick meals and snacks.
- Longer shelf life: Processed meats typically have a longer shelf life compared to fresh meats. This longer shelf life allows for easier storage and distribution, making processed meats a preferred choice for consumers and retailers.
- Taste and flavor: Processed meats often undergo various curing, smoking, and seasoning processes, which enhance their taste and flavor. These flavorsome characteristics can be appealing to consumers and contribute to the popularity of processed meats.
- Globalization and urbanization: With the rise of globalization and urbanization, there has been an increase in the demand for processed and convenience foods. Busy lifestyles and time constraints have led to a greater reliance on processed meats as a quick and easy food option.
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For the purpose of helping readers make profitable business decisions, the report is written with industry analysts, market segmentation, and data collection. In addition to providing detailed information on technical and product advances, this report also discusses market value, growth rates, and niche market segments in detail.
An analysis of the Processed Meat market has been carried out by segmenting it into key regions and offering information on growth rates, market shares, current and emerging trends, production and consumption ratios, analysis of the industrial chain, demand and supply, imports and exports, revenue contributions, and the presence of key players in each region. To gain a better understanding of the regional spread of and progress of the Processed Meat market, a country-by-country analysis of the market is provided in the report.
The global Processed Meat market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Type Outlook (Revenue, USD Billion; 2018-2028)
- Chilled
- Frozen
- Canned or Preserved
Meat Type Outlook (Revenue, USD Billion; 2018-2028)
- Poultry
- Beef
- Pork
- Mutton
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Hypermarket or Supermarket
- Convenience or Departmental Store
- Specialty Store
- Horeca
- Others
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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