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Processed Meat Market is estimated to grow at a Significant CAGR of 4.1% during 2022-2029 | Size, Growth, Trends & Forecast
Processed Meat Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/processed-meat-market-size-industry-analysis-research/
The factors driving the growth of Processed Meat Market includes growing consumption of fruits, vegetables, and cereals, rise in the working women population around the world, increasing demand for ready-to-eat food products and improvements in the living standards. In addition, growing adoption of advanced technologies by manufactures, increasingly availability of processed meat products at online stores, rising popularity of organic processed meat products and rapid urbanization, are some of the additional factors supplementing the Global Processed Meat Market. Moreover, rise in the launch of innovative products, increasing investments by major corporations on research and development and growing population growth rates, are further contributing towards the market growth.
However, growth of the Processed Meat Market is hindered due to carcinogenic effects of processed meat products.
The leading players operating in the market are JBS, Tyson Foods, Inc., China Xiangtai Food Co., Ltd., Smithfield Foods, Inc., Hormel Foods Corporation, Conagra Brands, Inc., Foster Farms, Cargill, Incorporated, Pilgrim's and The Kraft Heinz Company, among others.
Based on Product Type, the Pre-cooked ready-to-eat product segment is predicted to expand at a remarkable CAGR during the forecast period
Ready to eat processed products are easy to store and transport and possess longer lifespan, are some of the factors responsible for the segment's growth.
Based on Distribution Channel, the Supermarkets/ Hypermarkets segment is projected to capture the largest market share over the forecast period
Supermarkets and hypermarkets offer wide range of processed meat products at attractive discount rates and provides free home delivery options on certain purchases, are propelling growth of the segment.
Based on Region, the North American region is anticipated to hold the highest market share during the forecast period
Presence of the leading players such as Smithfield Foods, Inc., The Kraft Heinz Company and Tyson Foods, Inc., growing consumption of meat products across Untied States and Canada, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.
Key Development
In 2020, JBS completed the acquisition of local pork processor Adelle Industria de Alimentos, with an aim to strengthen its position in the pork processing market in Brazil.
Market Segmentation
Segmentation by Product Type
Cured Meat
Pre-cooked ready-to-eat product
Dried meat
Segmentation by Animal Type
Poultry
Beef
Pork
Mutton
Others
Segmentation by Distribution Channel
Supermarkets/ Hypermarkets
Discount Stores
Convenience Sores
Traditional Grocery Retailers
Others
Segmentation by Processing Technique
Curing
Smoking
Fermentation
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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