Processed Meat Market: Segmented: By Type (Frozen Meat, Chilled Meat, Canned Meat, and Others), By Product Type (Beef, Pork, Poultry, and Others), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Others), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
[170+ Pages Research Report] Processed Meat market to surpass USD 984.9 billion by 2032 from USD 539.8 billion in 2021 at a CAGR of 5.6% in the coming years, i.e., 2022-32.
Processed Meat is meat that has been modified by salting, fermentation, curing, smoking, or canning in order to increase its shelf life or enhance its taste. Beef, poultry meat, pork, and fish are most commonly used for the production of processed meat. Sausages, bacon, salami, jerky, ham, hot dogs, and chicken nuggets are some of the processed meat products. Processed meat can be organic or conventional in nature. Processed meat is used widely for both household and commercial purposes. It is widely available at specialty stores, supermarkets/hypermarkets, online stores and convenience stores.
Processed Meat market is expected to project a notable CAGR of 5.6% in 2032.
Growing demand for convenience foods owing to the hectic schedules of people, urbanization, changing lifestyles, rising demand for organic processed meat, and adoption of new production technologies are the main factors driving the growth of Processed Meat market.
Frozen Meat segment holds the largest market share
Processed Meat market is classified on the basis of type into Frozen Meat, Chilled Meat, Canned Meat, and Others. Frozen Meat segment is dominating the market with the largest market share. Frozen Meat is easy to store and transport and therefore is widely used by various food chains for food preparations. It has longer shelf life than fresh meat and is very popular among the young population as it is easily available.
Poultry segment holds the largest market share
Processed Meat market is classified on the basis of product type into Beef, Pork, Poultry, and Others. Poultry segment is dominating the market with the largest share. The growth is attributed to the low prices of poultry meat and its high nutritional properties. Moreover, shifting consumer preferences and increasing consumption of frozen meat are also contributing to the growth of the segment.
Growing Demand for Convenience Foods
Convenience foods are foods that are ready-to-eat and ready to cook, which makes it easier for people with hectic routines to have delicious food without putting many efforts into it. Processed meat is tasty and easy to cook, hence is preferred by a lot of young and working population. Also, with a growing population, demand for food items has also peaked over the period of time. Meat consumption has grown immensely in both developed and developing nations. Growing presence of fast-food chains, increase in disposable income, and urbanization are also driving the growth of the Processed Meat market
Rising Demand of Organic Processed Meat and Ease of Availability
Growing health consciousness among customers has induced the demand for organic processed meat owing to its health benefits. Manufacturers are using meat from organic certified farms to produce meat products. With the emergence of supermarkets/hypermarkets, customers have a wide range of varieties of meat products to choose from. Moreover, a growing number of online stores have made shopping super convenient for customers with the option of home delivery. Popularity of flavored meat products and adoption of new production technologies is propelling the market growth.
Negative Health Effects of Processed Meat
Consumption of processed meat can have a negative impact on health and also lead to life-threatening diseases like cancer, thereby impeding market growth. Moreover, customers are adopting plant-based meat products owing to increasing health awareness.
Processed Meat market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is dominating the market with the largest share. The growth is attributed to the huge demand of convenience food owing to the large number of working population and increasing consumption of meat products. Manufacturers in the region are focusing on increasing their production capacities along with technological advancements. Furthermore, Asia Pacific is expected to grow at a significant rate during the forecast period owing to the growing population of the region.
Coronavirus pandemic has adversely affected the economies around the globe. Nationwide lockdown regulations were imposed in many countries to control the spread of the virus and social distancing norms were strictly followed by the citizens. Covid-19 had a negative impact on Processed Meat market as the pandemic disrupted the business operations of many food giants, restaurants, and cafes. However, the market is expected to grow significantly during the forecast period with the relaxation of the lockdowns and social distancing norms.
Processed Meat Market is further segmented by region into:
Processed Meat Market Segments:
|Market size value in 2021||USD 539.8 billion|
|Revenue forecast in 2032||USD 984.9 billion|
|Growth Rate||CAGR of 5.6% from 2022 to 2032|
|Base year for estimation||2021|
|Quantitative units||Revenue in USD million and CAGR from 2022 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Product Type, Distribution Channel, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Cargill Incorporated, Tyson Foods, Inc., Smithfield Foods, Inc., Groupe Bigard, Hormel Foods Corporation, Gausepohl Fleisch Deutschland GmbH, NH Foods Ltd., Tönnies Group, Charoen Pokphand Foods PCL., JBS Foods, Gruppo Veronesi, OSI Group, Perdue Farms Inc., Koch Foods, Sanderson Farms, and Other Prominent Players|
Processed Meat market size was estimated at USD 539.8 billion in 2021 and is expected to reach USD 984.9 billion in 2032.
Processed Meat is meat that has been modified by salting, fermentation, curing, smoking, or canning in order to increase its shelf life or enhance its taste. Beef, poultry meat, pork, and fish are most commonly used for the production of processed meat.
Frozen Meat, Poultry, Supermarkets/Hypermarkets segment accounted for the largest Processed Meat market share.
Key players: Cargill Incorporated, Tyson Foods, Inc., Smithfield Foods, Inc., Groupe Bigard, Hormel Foods Corporation, Gausepohl Fleisch Deutschland GmbH, NH Foods Ltd., Tönnies Group, Charoen Pokphand Foods PCL., JBS Foods, Gruppo Veronesi, OSI Group, Perdue Farms Inc., Koch Foods, Sanderson Farms, and Other Prominent Players are the key players in the Processed Meat market.
Growing Demand for Convenience Foods and Rising Demand of Organic Processed Meat and Ease of Availability are the factors driving the Processed Meat market.
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