Global Processed Meat Market Size By Meat Type, By Product Type, By Application, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Processed Meat Market Size By Meat Type, By Product Type, By Application, By Geographic Scope And Forecast
Processed Meat Market Size And Forecast
Processed Meat Market size was valued at USD 168.14 billion in 2023 and is projected to reach USD 335.65 billion by 2030, growing at a CAGR of 4.77%during the forecast period 2024-2030.
Global Processed Meat Market Drivers
The market drivers for the Processed Meat Market can be influenced by various factors. These may include
Changing Consumer Lifestyles Convenient meal options are becoming more and more in demand as individuals lead busier lifestyles. Because they are a quick and simple source of protein, processed meats are a popular option for customers who are often on the go.
UrbanizationWhen people move to more urban areas, their eating patterns alter as they choose more easily accessible and handy foods. Because they are easily prepared and have a lengthy shelf life, processed meats are a great fit for this trend.
Increasing Disposable IncomeConsumers are able to spend more on convenience meals like processed meats when their disposable income rises, particularly in emerging economies. This promotes higher consumption and market expansion.
Growth of Retail ChannelsAs a result of processed meats’ increased accessibility to customers, demand for them is being further stimulated by the growth of retail channels, which include supermarkets, hypermarkets, convenience stores, and online grocery platforms.
Product InnovationTo meet changing customer demands, businesses are continuously coming up with new tastes, variants, and package styles. This invention increases market share and piques customer attention.
Health and Nutrition TrendsDespite some reservations regarding the effects of processed meats on health, there is still a sizable market for them since producers are making an attempt to provide healthier options, like low-fat or low-sodium versions, as well as useful ingredients.
Growing Need for Convenience FoodsThe need for quick meal options is being driven by busy lives and an increase in the number of dual-income homes. Meats that have been processed, which need less preparation, go nicely with this trend.
Dietary Westernization and GlobalizationProcessed meat products, which are typically consumed in Western countries, are becoming more and more popular as diets become more Westernized globally. This tendency is especially apparent in developing economies..
Global Processed Meat Market Restraints
Several factors can act as restraints or challenges for the Processed Meat Market. These may include
Health ConcernsA decrease in demand may result from a greater understanding of the possible health hazards—such as obesity, cardiovascular disease, and cancer—that come with eating processed meats.
RegulationsStrict rules and restrictions enforced by health authorities about the use of preservatives, additives, and other components in processed meats can raise production costs and impede the development of new products.
Consumer Preference ShiftAs consumers gravitate toward more natural and healthful food options, such as plant-based substitutes, the market for processed meats may decline.
Price volatilityChanges in the cost of ingredients and meat as raw materials can have an effect on the profitability of companies that produce processed meat as well as consumer choice.
Ethical and Environmental ConcernsAs people become more conscious of the problems relating to animal welfare and the effects that meat production has on the environment, such as greenhouse gas emissions and deforestation, meat consumption may fall overall, which would have an influence on the market for processed meat.
Competition from other ProteinsTraditional processed meat products face competition from the growing acceptance and accessibility of other protein sources, such as cultured meat and plant-based meat replacements.
Negative PublicityFoodborne illness cases, contamination incidents, or unfavorable media attention on the meat industry’s processing techniques might damage consumers’ faith in processed meat products.
Economic FactorsConsumer buying patterns can be impacted by recessions, downturns, or shifts in disposable income, which can result in a decline in the market for convenience- or premium-oriented processed meat products..
Global Processed Meat Market Segmentation Analysis
The Global Processed Meat Market is Segmented on the basis of By Meat Type, By Product Type, By Application and Geography.
By Meat Type
PoultryWith more than 42% of the market, the poultry category leads the industry. It’s normal practice to process chicken, turkey, and duck to make sausages, hams, and nuggets.
PorkA substantial share of the market is made up of pork, which is especially well-liked in Europe and Asia when processed into lunch meats, bacon, ham, and sausages.
BeefPopular processed beef products include beef jerky, sausages, corned beef, and salami..
By Product Type
FrozenBecause of its longer shelf life and convenience of transportation, the frozen segment has the most market share. Both customers and food businesses can benefit from the convenience of frozen meats.
ChilledCompared to frozen alternatives, chilled processed meats need to be refrigerated and have a lower shelf life. They are frequently eaten right away after purchasing.
CannedMeats that have been canned are shelf-stable and don’t need to be refrigerated. This makes them a viable choice for food supply in an emergency..
By Application
Food Processing IndustryCanned soups, frozen meals, and pizzas are just a few of the prepared dishes that frequently include processed meats as an ingredient.
Food Service IndustryFor consistency and convenience, processed meats are used in a variety of cuisines at restaurants, cafes, and motels.
ResidentialThe use of processed meats in homes for regular meals is covered in this section..
By Geography
North America Market conditions and demand in the United States, Canada, and Mexico.
Europe Analysis of the Processed Meat Market in European countries.
Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
Middle East and Africa Examining market dynamics in the Middle East and African regions.
Latin America Covering market trends and developments in countries across Latin America.
Key Players
The major players in the Processed Meat Market are
Tyson Foods.Inc.
Hormel Foods Corporation
JBS S.A.
Cargill
Incorporated
Smithfield Foods.Inc.
Conagra Brands,Inc.
WH Group Limited
BRF S.A.
OSI Group,LLC
The Kraft Heinz Company
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Tyson Foods, Inc.,Hormel Foods Corporation,JBS S.A.,Cargill, Incorporated,Smithfield Foods, Inc.,Conagra Brands, Inc.,WH Group Limited,BRF S.A.,OSI Group, LLC,The Kraft Heinz Company
SEGMENTS COVERED
By Meat Type,By Product Type,By Application,and By Geography
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