Global Processed Meat Market

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


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

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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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

Product ID: SQMIG30I2384

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