Processed Meat Market Size to Reach US$ 750.0 Billion by 2027 | Growth Rate (CAGR of 5.9%) | Research Report

According to IMARC Group's latest report, titled "Processed Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global processed meat market size reached US$ 533.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 750.0 Billion by 2027, exhibiting a growth rate (CAGR) of 5.9% during 2022-2027.

Processed meats are produced from trimmings from carcasses, muscle and fat of wholesale cuts, and nonmuscle cuts, such as the liver. It involves the usage of white and red meat procured from swine, cattle, poultry, and aquatic animals. Processed meats are divided into cured and smoked and fresh processed meat. The meat is modified to improve its taste and extend its shelf life. Salting, curing, smoking, fermentation, and the addition of chemical preservatives are some of the methods of meat processing. The meat can also be manufactured through smoking, fermenting, and cooking to reduce the chances of unwanted microorganism growth on the product. These products are a rich source of essential nutrients, such as proteins, selenium, niacin, choline, vitamins, minerals, and riboflavin. Consequently, processed meat is used to prepare various items, including bacon, salami, sausages, pepperoni, ham, and deli meats.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Processed Meat Market Trends:

The rising demand for ready-to-eat (RTE) meat products due to hectic lifestyles and busy schedules represents one of the key factors primarily driving the market growth. The surging working populace and the burgeoning demand for animal-based protein are further boosting the market growth. Moreover, the increasing consumer per capita income and the rising consciousness amongst them regarding the consumption of nutrient-rich products are other growth-inducing factors.
Additionally, restaurants, quick service restaurant (QSR) chains, and hotels are offering a variety of products comprising processed meat as the main ingredient, which, in turn, is accelerating the market growth. Apart from this, the rapid expansion of the food and beverage (F&B) industry and the escalating demand for organic meat products are positively contributing to the market growth.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

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.

Key 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
o Supermarkets and Hypermarkets
o Grocery Stores
o Specialty Retailers
o Online Stores
o 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)

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Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• 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.

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