Processed Meat Market Overview
The global processed meat market was valued at USD 629.38 billion in 2023 and is projected to reach USD 980.63 billion by 2030, growing at a CAGR of 6.54% during the forecast period (2024-2030). This market growth is fueled by the rising demand for convenience foods and the growing popularity of processed meat products in both developed and emerging economies.
Market Definition
Processed meat refers to any type of meat that has undergone changes in flavor, texture, or preservation through methods such as salting, smoking, curing, fermenting, and adding preservatives. The most common types of processed meat include pork, beef, poultry, and offal. Processed meats are typically enhanced with seasonings, preservatives, and other ingredients to increase their shelf life and improve their taste.
For more detailed insights, request a free sample report today:https://www.stellarmr.com/report/req_sample/Processed-Meat-Market/305
Market Drivers
- E-Commerce Growth: The expanding e-commerce sector is boosting the global processed meat market. More consumers are purchasing processed meat products through online grocery platforms, fueling the demand for ready-to-cook and ready-to-eat meat products.
- Consumer Preference for Convenience: Busy lifestyles are driving consumers toward processed meat products that offer convenience, such as frozen, chilled, and ready-to-eat options.
- Rising Demand for Meat-Based Snacks: The growing preference for meat-based snacks such as jerky, sausages, and hot dogs is a key driver of market growth, particularly in North America and Europe.
Market Trends
- Flavored Processed Meats: The trend of seasoning meat products with a variety of herbs, spices, and marinades is gaining traction. This shift caters to evolving consumer tastes, providing opportunities for growth in the processed meat market.
- Health-Conscious Consumption: While processed meats are often criticized for their potential health risks, consumers are increasingly seeking healthier options, such as low-fat, low-sodium, or nitrate-free processed meats.
- Sustainability Initiatives: As environmental concerns grow, many meat producers are focusing on more sustainable production practices, including using alternative ingredients and minimizing waste.
Market Segmentation
- By Product:
- Frozen: Dominated the market with a 68.4% share in 2023, driven by longer shelf life and easier transportation.
- Chilled: Expected to grow at a CAGR of 4.5% during the forecast period, favored for its freshness and minimal processing.
- Canned: A popular choice for long-term storage and convenience.
- Others: Includes dried, smoked, and vacuum-sealed options.
- By Meat Type:
- Poultry: Held the largest market share of 42.4% in 2023, driven by the widespread consumption of chicken, turkey, and duck.
- Beef: Expected to grow at a CAGR of 4.1% during the forecast period, although health concerns may slow its growth.
- Pork: A staple in processed meats, particularly in Europe and Asia.
- Others: Includes lamb and seafood-based processed meats.
For more detailed insights, request a free sample report today:https://www.stellarmr.com/report/req_sample/Processed-Meat-Market/305
Key Players in the Processed Meat Market
- BRF S.A. (Brazil)
- Cargill Inc. (U.S)
- Cherkizovo Group (Russia)
- Foster Farms (U.S)
- Hormel Foods Corporation (U.S)
- JBS S.A. (Brazil)
- Koch Foods (U.S)
- Marfrig (Brazil)
- National Beef Packing Company (Hong Kong)
- Perdue Farms (Salisbury, MD)
- Pilgrims Pride (Greely, CO)
- Sanderson Farms (Laurel, MS)
- NH Foods Ltd (Japan)
- Smithfield Foods, Inc. (Smithfield, VA)
- Tyson Foods Inc. (Springdale, AR)
Regional Analysis
- North America: Dominated the market with a 38.2% share in 2023, driven by increasing demand for meat-based breakfast products and convenient ready-to-eat meals.
- Europe: Strong market growth due to the popularity of sausages, bacon, and cold cuts, particularly in the UK, Germany, and Italy.
- Asia Pacific: Expected to witness rapid growth during the forecast period, with increasing consumption of processed poultry and pork products.
- Middle East and Africa: Growing demand for processed meats in emerging markets due to urbanization and changing dietary habits.
- South America: Brazil and Argentina are key players in the processed meat industry, with beef and poultry being popular products.
Key Questions Answered
- What are the main factors driving the growth of the processed meat market?
- The key drivers include the rise of e-commerce, growing consumer preference for convenience foods, and the popularity of meat-based snacks.
- Which product segment is expected to witness the highest growth during the forecast period?
- The chilled segment is expected to grow at the highest CAGR of 4.5%, driven by consumer demand for fresh meat products.
- How will the environmental concerns impact the processed meat market?
- Environmental concerns related to meat production, such as feed sourcing and greenhouse gas emissions, are expected to influence market dynamics, prompting companies to adopt sustainable practices.
- Which region will see the fastest growth in the processed meat market?
- The Asia Pacific region is projected to experience the fastest growth due to increased consumption of processed poultry and pork products.
Conclusion
The global processed meat market is poised for significant growth due to increasing consumer demand for convenience and flavor-enhanced meat products. While challenges such as health concerns and environmental issues exist, the market is evolving with innovations in healthier options and sustainable production methods. Key players are focusing on enhancing product offerings and expanding into emerging markets, which will contribute to the overall market expansion during the forecast period.
To access more details regarding this research, visit the following webpage:https://www.stellarmr.com/report/Processed-Meat-Market/305
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
For More Information:
Fox Nuts Market https://www.stellarmr.com/report/Fox-Nuts-Market/1105
Seaweed Snack Market https://www.stellarmr.com/report/Seaweed-Snack-Market/1106
FMCG Packaging Market https://www.stellarmr.com/report/FMCG-Packaging-Market/1154
Functional Food Ingredients Market https://www.stellarmr.com/report/Functional-Food-Ingredients-Market/1156
Green Coffee Market https://www.stellarmr.com/report/Green-Coffee-Market/1165
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
Contact Stellar Market Research:
S.no.8, h.no. 4-8 Pl.7/4, Kothrud,
Pinnac Memories Fl. No. 3, Kothrud, Pune,
Pune, Maharashtra, 411029
