Global Processed Meat Market

Processed Meat Market Size, Share, Growth Analysis, By Product Type(Beef, Pork), By Distribution Channel(Supermarkets and Hypermarkets, Convenience Stores), By Processing Technique(Cured, Smoked) - Industry Forecast 2024-2031


Report ID: SQMIG30I2384 | Region: Global | Published Date: February, 2024
Pages: 198 | Tables: 90 | Figures: 76

Processed Meat Market Insights

Global Processed Meat Market size was valued at USD 309 billion in 2021 and is poised to grow from USD 378 billion in 2022 to USD 549 billion by 2030, at a CAGR of 4.77% during the forecast period (2023-2030).

Globally, the global processed meat market has witnessed substantial growth in recent years. Meat is termed processed when it is preserved by smoking, salting, fermenting, or adding any chemical to increase its shelf-life and improve its flavor. The industry is being driven by rising use of packaged food and drinks. To improve the flavor and keep the attributes of these meat products, processes such as salting, curing, and smoking are utilized. Consumption of ready-to-eat food items has grown as a result of the fast-paced lifestyle and expanding paid worker population, which is projected to boost market growth. However, sales of processed beef are projected to skyrocket in the near future. This is because of a shift in customer purchasing habits. Due to the pandemic scenario, most countries are in lockdown, and various government organizations have established various laws regulating the acquisition of necessities. Furthermore, these laws and restrictions have influenced consumer purchasing habits. People prefer processed foods because they take less time to prepare, which will help the processed meat industry develop over the next two years. Variable meat preservation techniques have resulted in a significant increase in demand for fresh processed meat. To accommodate the fast-paced city lifestyle, urban customers choose Processed Meat. The time necessary to prepare raw meat and then serve it will continue to benefit the rise of processed meat demand.

Market snapshot - 2024-2031

Global Market Size

USD 309 billion

Largest Segment

Pork

Fastest Growth

Pork

Growth Rate

4.77% CAGR

Global Cultured Meat Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Cultured Meat Market Size By Type 2022-2030 ($ Bn)
Global Cultured Meat Market Size By Type 2022-2030 (%)

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Processed Meat Market Segmental Analysis

The Processed Meat Market is segmented by product type, distribution channel processing technique, and region. Based on the product type, the market is segmented into beef, pork, poultry. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail. Based on processing technique, the market is segmented into cured, smoked, fermented. Based on region, the market is segmented into North America, Latin America, Europe, and MEA.

Analysis by Product Type

The processed meat market can be segmented based on product type, which includes beef, pork, poultry, and others. Among these, poultry holds a significant market share due to its wide availability, affordability, and perceived health benefits. Poultry processed meat products such as chicken and turkey are versatile and used in various cuisines, contributing to their popularity. Beef and pork segments also hold considerable market share, driven by their demand in traditional dishes and cultural preferences. The "others" category includes processed meat products from alternative sources such as game meat, lamb, and veal, catering to niche consumer preferences.

Analysis by Processing Technique

The processing technique segment comprises cured, smoked, fermented, and other processing methods. Cured processed meats, including bacon and ham, are popular globally. Smoked meats, such as smoked sausages and smoked turkey, offer distinctive flavors and textures. Fermented products like salami and chorizo are valued for their tangy taste. Other processing techniques encompass marination, cooking, and drying methods used in various processed meat products.

Global Cultured Meat Market By Type, 2022 (%), 2023 (%)

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Processed Meat Market Regional Insights

North America is the largest market region in the global Processed Meat market. The region's dominance can be attributed to factors such as the high consumption of processed meat products, a well-established food industry, and the popularity of fast-food chains. The US, in particular, contributes significantly to the processed meat market in North America. The country's busy lifestyle, preference for convenience foods, and the presence of a vast consumer base contribute to its market leadership. Additionally, Canada and Mexico also play a significant role in the region's processed meat market.

Asia Pacific is anticipated to be the fastest growing region in the global Processed Meat market. The region's rapid economic development, changing dietary patterns, and increasing urbanization have fueled the demand for processed meat products. Emerging economies such as China and India are major contributors to the growth in this region. In China, the rising middle class, changing consumer lifestyles, and the influence of Western food habits have led to increased consumption of processed meat products. Similarly, in India, the urban population's growing preference for convenience foods and the adoption of Western food trends have contributed to the market's expansion.

Global Cultured Meat Market By Geography, 2022-2030, 2024-2031
  • Largest
  • Fastest

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Processed Meat Market Dynamics

Drivers

Changing Consumer Lifestyles and Preferences to Bolster market growth

  • Shifting consumer lifestyles, including busier schedules and the demand for convenience foods, have increased the consumption of processed meat products as they offer quick and easy meal options. The need for ready-to-eat and on-the-go food products has propelled the market growth.
  • The expansion of modern retail channels such as supermarkets, hypermarkets, and convenience stores, along with the emergence of online platforms, has significantly contributed to the accessibility and availability of processed meat products. These distribution channels offer a wide range of options, convenience, and promotional activities, thereby driving the market growth.

Restraints

Health Concerns Associated with Excessive Consumption to Hinder market growth

  • Excessive consumption of processed meat has been linked to health issues such as cardiovascular diseases, obesity, and certain types of cancer. Increasing awareness about the potential negative health impacts of processed meat consumption has led to a shift in consumer preferences towards healthier alternatives, restraining the market growth to some extent.
  • Governments and regulatory bodies have implemented strict regulations regarding food safety standards, product labeling, and the use of additives and preservatives in processed meat products. Compliance with these regulations can be challenging and may increase production costs for manufacturers, impacting the growth of the market.

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Processed Meat Market Competitive Landscape

The Global Processed Meat Market is highly competitive, with several players vying for a significant market share. The leading companies in the food and services market are investing heavily in research and development to stay ahead of the competition and offer innovative solutions to their customers. Some of the major players in the market have a global presence. They are also focused on expanding their product portfolio and enhancing their distribution networks to better serve their customers.

Top Player’s Company Profiles

  • Hormel Foods Corporation (US)
  • Cargill, Incorporated (US)
  • Smithfield Foods, Inc. (US)
  • Danish Crown A/S (Denmark)
  • Marfrig Global Foods S.A. (Brazil)
  • Conagra Brands, Inc. (US)
  • BRF S.A. (Brazil)
  • NH Foods Ltd. (Japan)
  • Pilgrim's Pride Corporation (US)
  • Kerry Group plc (Ireland)
  • Itoham Yonekyu Holdings Inc. (Japan)
  • Campofrío Food Group (Spain)
  • Tönnies Holding GmbH & Co. KG (Germany)
  • Nippon Meat Packers, Inc. (Japan)
  • OSI Group, LLC (US)
  • AdvancePierre Foods Holdings, Inc. (US)
  • Maple Leaf Foods Inc. (Canada)

Recent Developments

  • In May 2022, JBS SA completed the acquisition of Spain’s largest cultivated-meat company and has found a site for a new biotech R&D center. JBS now owns a 51% stake in BioTech Foods, a Spanish cultivated-meat company, in an acquisition that was originally announced last November. JBS plans to build a production plant for cultivated meat in San Sebastián, on Spain’s northern coast near the French border.

Processed Meat Key Market Trends

  • As consumers become more conscious about their health and the impact of food choices on the environment, there is a shift towards products that are perceived as healthier, cleaner, and more sustainable. Organic and natural processed meats are produced without the use of synthetic chemicals, antibiotics, hormones, or genetically modified organisms (GMOs). These products are often sourced from animals raised in humane conditions and fed with organic feed. The increasing consumer awareness about the potential health risks associated with consuming processed meats that contain additives, preservatives, and artificial ingredients has fueled the demand for organic and natural alternatives. Consumers are seeking products that are free from artificial flavors, colors, and additives, and have a cleaner ingredient list.

Processed Meat Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our analyses, The Processed Meat Market is experiencing significant growth and is projected to continue its upward trajectory in the coming years. The global processed meat market is experiencing significant growth driven by various market trends and consumer insights. One of the prominent trends is the increasing demand for organic and natural processed meat products. This trend is pushing manufacturers to develop and offer organic and natural alternatives that align with consumer preferences for cleaner and healthier food options. Clean label and transparent packaging is another key market trend. Consumers are seeking greater transparency in the sourcing, processing, and labeling of processed meat products. Product innovation and the introduction of new flavors are driving market growth and attracting consumer interest. Manufacturers are constantly introducing new processed meat products with unique flavors, seasonings, and recipes to cater to diverse consumer preferences. Looking into the future, the processed meat market holds promising opportunities for further growth and expansion. Manufacturers need to focus on product diversification, meeting consumer demands for healthier and sustainable options, and adapting to evolving dietary preferences. This includes exploring new flavors, expanding the plant-based meat offerings, investing in research and development, and adopting sustainable practices throughout the supply chain.

Report Metric Details
Market size value in 2023 USD 309 billion
Market size value in 2031 USD 549 billion
Growth Rate 4.77%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product Type
    • Beef, Pork, Poultry
  • Distribution Channel
    • Supermarkets and Hypermarkets, Convenience Stores, Online Retail
  • Processing Technique
    • Cured, Smoked, Fermented
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Hormel Foods Corporation (US)
  • Cargill, Incorporated (US)
  • Smithfield Foods, Inc. (US)
  • Danish Crown A/S (Denmark)
  • Marfrig Global Foods S.A. (Brazil)
  • Conagra Brands, Inc. (US)
  • BRF S.A. (Brazil)
  • NH Foods Ltd. (Japan)
  • Pilgrim's Pride Corporation (US)
  • Kerry Group plc (Ireland)
  • Itoham Yonekyu Holdings Inc. (Japan)
  • Campofrío Food Group (Spain)
  • Tönnies Holding GmbH & Co. KG (Germany)
  • Nippon Meat Packers, Inc. (Japan)
  • OSI Group, LLC (US)
  • AdvancePierre Foods Holdings, Inc. (US)
  • Maple Leaf Foods Inc. (Canada)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Processed Meat Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Processed Meat Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Processed Meat Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Processed Meat Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Processed Meat Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Processed Meat Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Processed Meat Market size was valued at USD 309 billion in 2021 and is poised to grow from USD 378 billion in 2022 to USD 549 billion by 2030, at a CAGR of 4.77% during the forecast period (2023-2030).

The Processed Meat Market is highly competitive, with several players vying for a significant market share. The leading companies in the food and services market are investing heavily in research and development to stay ahead of the competition and offer innovative solutions to their customers. Some of the major players in the market have a presence. They are also focused on expanding their product portfolio and enhancing their distribution networks to better serve their customers. 'Tyson Foods, Inc. (US)', 'JBS SA (Brazil)', 'WH Group Limited (China)', 'Hormel Foods Corporation (US)', 'Cargill, Incorporated (US)', 'Smithfield Foods, Inc. (US)', 'Danish Crown A/S (Denmark)', 'Marfrig Foods S.A. (Brazil)', 'Conagra Brands, Inc. (US)', 'BRF S.A. (Brazil)', 'NH Foods Ltd. (Japan)', 'Pilgrim's Pride Corporation (US)', 'Kerry Group plc (Ireland)', 'Itoham Yonekyu Holdings Inc. (Japan)', 'Campofrío Food Group (Spain)', 'Tönnies Holding GmbH & Co. KG (Germany)', 'Nippon Meat Packers, Inc. (Japan)', 'OSI Group, LLC (US)', 'AdvancePierre Foods Holdings, Inc. (US)', 'Maple Leaf Foods Inc. (Canada)'

Shifting consumer lifestyles, including busier schedules and the demand for convenience foods, have increased the consumption of processed meat products as they offer quick and easy meal options. The need for ready-to-eat and on-the-go food products has propelled the market growth.

As consumers become more conscious about their health and the impact of food choices on the environment, there is a shift towards products that are perceived as healthier, cleaner, and more sustainable. Organic and natural processed meats are produced without the use of synthetic chemicals, antibiotics, hormones, or genetically modified organisms (GMOs). These products are often sourced from animals raised in humane conditions and fed with organic feed. The increasing consumer awareness about the potential health risks associated with consuming processed meats that contain additives, preservatives, and artificial ingredients has fueled the demand for organic and natural alternatives. Consumers are seeking products that are free from artificial flavors, colors, and additives, and have a cleaner ingredient list.

North America is the largest market region in the Processed Meat market. The region's dominance can be attributed to factors such as the high consumption of processed meat products, a well-established food industry, and the popularity of fast-food chains. The US, in particular, contributes significantly to the processed meat market in North America. The country's busy lifestyle, preference for convenience foods, and the presence of a vast consumer base contribute to its market leadership. Additionally, Canada and Mexico also play a significant role in the region's processed meat market.

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Global Processed Meat Market

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