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COVID-19 Impact Affects Processed Meat Market Globally in 2020
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Some of the key companies that are present in the global processed meat market are
Tyson Foods
Cargill Inc.
Advance Food Company Inc.
BRF S.
Shauanghui International
Hormel Foods
Nippon Meat Packers Inc.
Smithfield Foods Inc.
Foster Farms, and JBS USA Holdings, Inc.
Demand for Protein-Rich Diet to Aid Market Growth
The global processed meat market is growing at a rapid speed, owing to increasing demand for ready-to-eat food products, attributed by the hectic schedule of people. Lamb, beef, and poultry are some of the major processed meat types that are consumed widely around the globe. Meats are enhanced to achieve longer shelf-life and preserve the natural taste. Meat processing involves various methods and processes, such as curing, canning, dehydrating, smoking, and freezing.
The rising population across the globe and the presiding demand for processed meat is expected to boost the market for processing meat in the forthcoming year. Accelerating demand for protein-rich diet, rapid urbanization, and increasing disposable income is predicted to have a positive impact on the global processed meat market. Furthermore, reduced cost of processed meat due to the adoption of advanced meat processing technologies is propelling the growth of the global processed meat market.
By processing type, the global processed meat market is segmented into chilled, frozen, and canned. Frozen processed meat segment is projected to dominate the market during the forecast period, owing to longer shelf-life of frozen meat. Growing consumption of salami products and hotdogs especially in Gulf Cooperation Council countries are boosting the growth of the global market. Among products, poultry is likely to remain dominant in the global processed meat market, owing to growing consumer inclination towards white meat, along with the low cost of poultry processed meat.
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High protein content and low cholesterol content present in poultry meat is also fueling demand for the segment and enabling the growth of the global processed meat market
Coleman Natural Partners with Budweiser for Beer-Infused Meat
Coleman natural announced teaming up with Budweiser for a new line of beer-infused pork products which include beer brats, Budweiser jalapeño cheddar, St. Louis ribs, pulled pork, and Budweiser barbecue sauce-slathered. The beer-infused meat is likely to fuel demand among consumers, owing to the goodwill and creative approach towards processed meat.
Various key players in the market are launching new products with an aim to provide fresh and safe processed meat for the consumers. For instance, Kemin Industries, a leading provider of food safety solutions, launched NaturCease Dry, a meat spoilage preventive product that can keep processed meat fresh and safe.
Major Segments includes:
By Processing Type
Chilled
Frozen
Canned
By Product Type
Poultry
Beef
Lamb
By Distribution Channel
Supermarkets/Hypermarkets
Grocery Stores
Specialty Retailers
Online Channels
Others
By Geography
The product is a clean-label combination of natural plant extracts and buffered vinegar. Safety regulation followed by companies for spoilage prevention is predicted to attract consumers and enable growth for the processed meat market.
North America to Remain Dominant in The Global Market
North America is presently holding a major market share in the global processed meat market and is expected to dominate the market during the forecast period. Rising demand for consumption of processed meat in North America, especially in the U.S is predicted to contribute heavily to the growth of the market.
Presence of key players along with large numbers of local vendors in North America is another prominent reason contributing to the growth of processed meat market in the region. Processed meat market in the Asia Pacific is projected to expand at a rapid pace in the forthcoming year, owing to an exponentially rising population in Asian countries such as China and India.
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