IMARC Group, a leading market research company, has recently releases report titled “Processed Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global processed meat market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Processed Meat Market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 567.8 Billion |
| Market Forecast in 2028 | US$ 787.4 Billion |
| Growth rate (2023 to 2028) | CAGR of 5.7% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is Processed Meat?
Processed meat refers to meat that has undergone various methods of preservation, preparation, or transformation to enhance flavour, extend shelf life, or improve convenience. It involves techniques, such as curing, smoking, salting, fermentation, and the addition of preservatives and additives. Processed meat can include products like sausages, bacon, ham, hot dogs, deli meats, and canned meat products. Characteristics of processed meat include its altered texture, flavour, and appearance as compared to fresh meat. It often has a longer shelf life, making it more convenient for storage and distribution. One of the key features of processed meats is that they provide convenience, as they are readily available, easy to prepare, and can be consumed without extensive cooking. Since they have a longer shelf life, it reduces the risk of spoilage, thus extending their usability.
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What are the Growth Prospects and Trends in the Processed Meat Market?
The rising demand for ready to eat (RTE) foods, including RTE meat products, represents one of the key factors driving the market growth. This can primarily be attributed to the steadily expanding working population base and their hectic schedules that allow negligible time for cooking and meal preparation, thus resulting in the high demand for RTE and ready to cook meal options. In line with this, the increasing establishment of fast-food chains and quick-service restaurants (QSRs) that rely heavily on processed meat products is driving the market growth. In addition to this, the rising inclination of individuals toward on-the-go meals is facilitating the demand for processed meat, which is propelling the market growth. Moreover, processed meat products like jerky, pepperoni sticks, and snack packs cater are widely consumed snacks, which is boosting the market growth. The market is also being driven by the growth of online food delivery platforms, which is catalyzing the consumption of processed meat products. Beside this, there has been a significant rise in the demand for animal-based proteins among individuals, which is acting as a major growth-inducing factor. This can be attributed to the rising consciousness among consumers regarding the consumption of nutrient-rich packaged product variants, which is contributing to the market growth. Coupled with this, the enhanced convenience offered by these products and considerable growth in the food processing industry, is facilitating the incorporation of processed meat in the daily diets of individuals. The increasing popularity of international cuisines and the rapid expansion of online and organized retail across the globe are driving the market toward growth. Extensive research and development (R&D) activities and various product innovations are further contributing to the market growth. Other factors, such as rapid urbanisation, changing dietary habits of consumers, and the expansion in the food and beverage (F&B) industry, along with the growing disposable income levels and rising consumer expenditure capacities, are creating a positive outlook for the market across the globe.
Who are the Key Players Operating in the Processed Meat Industry?
The competitive landscape of the industry has been examined in the report with the detailed profiles of the key players operating in the market.
- BRF SA
- Cargill Inc.
- Foster Farms
- Hormel Foods Corporation
- JBS SA
- Marel hf
- Marfrig
- National Beef
- Nippon Ham Foods Ltd.
- Perdue Farms
- Pilgrim’s Pride
- Sadia
- Sanderson Farms Inc
- Sysco
- Tyson Foods.
What is Included in Market Segmentation?
The report has categorized the market based on meat type, product type, processing type and distribution.
Breakup by Meat Type:
- Poultry
- Beef
- Mutton
- Pork
- Others
Breakup by Product Type:
- Fresh-Processed Meat
- Raw Fermented Meat
- Raw-Cooked Meat
- Pre-Cooked Meat
- Cured Meat
- Dried Meat
- Others
Breakup by Processing Type:
- Chilled
- Frozen
- Canned
Breakup by Distribution:
- Institutional Sales (HoReCa)
- Retail Sales
- Supermarkets and Hypermarkets
- Grocery Stores
- Specialty Retailers
- Online Stores
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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