Processed Meat Market Likely to Grow at a Healthy CAGR

Key Insights of Processed Meat Market

Processed Meat Market Remains a Moderately Consolidated Market

Top manufacturers in the processed meat market account for over 30% revenue share, andhave a diverse product portfolio and loyal consumer base across the globe. However, steadily declining meat prices and increasing demand for animal protein products has opened the market wide open, creating opportunities for new entrants. An increasingnumber of start-ups in the processed meat market are gaining momentum by introducing sustainably produced, high-quality processed meat products.

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Steadily Increasing Meat Production and Consumption Complement Processed Meat Market Growth

As diets of modern consumers have become more diverse and richer in high-value protein, demand for livestock products as increased, fueling the global production of meat, which is expected to prove remunerative for processed meat manufacturers. The world meat production increased, albeit steadily, to surpass 330 Mt in 2017, according to a report by the Food and Agriculture Organization. The report further predicts an increase of 48 Mt in the global meat production in the next decade to reach 367 Mt by the end of 2027.

Underpinned by improved economic conditions and herd expansions across the world, increased demand and consumption of meat is likely to boost meat production in the coming years. Manufacturers in the processed meat market are capitalizing on the rise in global meat production to offer competitive prices of processed meat products, and ultimately, gain an edge in the processed meat market.

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Rapidly Growing Processed Food Industry Fuels Developments in the Processed Meat Market

The global demand for food has increased with an unprecedented rise in population, urbanization, and discretionary spending habits of consumers across the globe. Fast-pacing lifestyle is facilitating the needs for convenience at cooking, thereby the market for processed food and drinks accounts for a significant share in the global food industry.

Recent changes in consumers’ dietary preferences with changing lifestyle, and growing demand for processed food and resource-intensive animal products are reflected into the growth of the processed meat market. Thereby, manufacturers in the processed meat market are leveraging the recent developments in the processed food industry and consumer inclination towards consumption of animal-based proteins.

Leading Processed Meat Manufacturers Recall Their Products Due to Possible Foreign Matter Contamination

According to the recent announcements by the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS), leading manufacturers in the processed meat market had to recall their processed meat products over consumer safety concerns. For example, Tyson Foods Inc. – an American processed meat manufacturers and a multinational corporation – recalled 3,120 pounds of frozen breaded chicken products due to possible extraneous material contamination. Another American manufacturer of processed meat – Hormel Foods Corporation recently recalled 228,614 pounds of canned pork and other processed meat products including poultry meat due to possible foreign matter contamination. Cargill Meat Solutions also featured in the list of processed meat manufacturers having to recall their processed meat products, as the company recalled around 25,288 pounds of ground beef products over the possibility of E. coli contamination.

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Competitive Landscape

This section in the Fact.MR study aids readers to comprehend information about critical developments in the processed meat market along with insightful information about the growth of the leading processed meat manufacturers in the market. The report features a complete list of leading stakeholders in the processed meat market and provides useful information about recent developments in the winning strategies of leading players in the processed meat market.

Processed meat market players mentioned in the report are JBS SA, Tyson Foods, Inc., Harim Co Ltd., WH Group, Hormel Food Corporation, Cargill Meat Solutions Corp., BRF, Smithfield Foods, Inc., Danish Crown A/S, and Lotte Foods, Inc.

About the Report

The Fact.MR report on the processed meat market is a reliable source of detailed information about the dynamics and growth prospects of the processed meat market. Readers can find comprehensive data and estimated values on how the processed meat market will grow during the forecast period 2018-2028.

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Segmentation

The information about the growth parameters of processed meat market presented in the Fact.MR report is broadly divided into six main segments – product type, form, nature, buyer type, sales channel, and geographical region.

Based on product types, the processed meat market is segmented into beef, pork, poultry meat, and sheep meat. According to the form of processed meat, the processed meat market is segmented into fresh or chilled processed meat, frozen processed meat, and shelf stable processed meat. Based on the nature of processed meat products, the processed meat market is classified into two main categories – organic processed meat and conventional processed meat.

Based on buyers’ types, the processed meat market is divided into food processors & manufacturers, HoReCa sector, and household & residential buyers. Depending on processed meat sales channels, the processed meat market is segmented into traditional grocery stores, supermarket/hypermarket, internet retailing, convenience store/forecourt retailers, and discounters.

Based on geographical regions, the processed meat market is segmented into North America, Latin America, Europe, the Commonwealth of Independent States (CIS) & Russia, Japan, Asia Pacific excluding Japan (APEJ), and Middle East & Africa (MEA).

Additional Questions Answered

The Fact.MR report provides exclusive information about how the processed meat market is growing and its growth prospects. This information can help market players to understand the minute details about how other market players are paving their way through the processed meat market and their winning strategies.

The information presented in the processed meat market report answered important market-related questions for readers, which can help them to make appropriate business decisions in the coming future. Some of the questions include

Why consumers are willing to purchase conventional processed meat products over organic processed meat products?
Why the processed meat market in developed economies growing faster than any other regions?
How is the global meat market impacting developments in the processed meat market?
Which category of buyers account for a major share in purchasing processed meat products?
What strategies are processed meat market leaders adopting to gain momentum in emerging economies?

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This release was published on openPR.