Processed Meat Market Size, Trends, Companies, Growth Opportunities and Forecast 2024-2032

IMARC Group has recently released a new research study titled "Processed Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

How big is the processed meat market?

The global processed meat market size reached US$ 599.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 933.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.9% during 2024-2032.

Global Processed Meat Market Trends:

The growing demand for healthier and more natural processed meat products represents one of the key factors influencing the growth of the processed meat market across the globe. Consumers are increasingly seeking options with reduced sodium, fat, and artificial additives, as well as products made from sustainably sourced and humanely raised meats.

Additionally, there is a rising interest in plant-based meat alternatives within the processed meat market. With growing awareness of environmental sustainability and health concerns associated with meat consumption, plant-based meat substitutes made from ingredients like soy, pea protein, and mushrooms are gaining popularity as alternatives to traditional processed meats. Furthermore, convenience remains a key driver of demand in the processed meat market, with consumers seeking quick and easy meal solutions amidst busy lifestyles.

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Factors Affecting the Growth of the Processed Meat Industry:

• Changing Consumer Preferences and Lifestyles:

Shifting consumer preferences towards convenience foods and ready-to-eat meals have profoundly impacted the processed meat market. As lifestyles become increasingly fast-paced, consumers seek quick and convenient meal solutions that require minimal preparation time. Processed meat products, such as sausages, deli meats, and pre-cooked bacon, fulfill this demand by offering convenient options that can be easily incorporated into meals or consumed on-the-go. Additionally, busy schedules and changing family dynamics contribute to the popularity of ready-to-eat processed meat snacks and meals, making them a staple in many households. As a result, manufacturers continue to innovate and expand their product offerings to meet the growing demand for convenient and time-saving food options.

• Technological Advancements in Processing Techniques:

Continuous advancements in processing technologies have revolutionized the processed meat market. Automation streamlines production processes, enhancing efficiency and consistency while reducing labor costs. Packaging innovations, such as modified atmosphere packaging and vacuum sealing, extend shelf life, maintain product freshness, and prevent spoilage, ensuring quality and safety for consumers. Additionally, stringent food safety measures, including Hazard Analysis and Critical Control Points (HACCP) systems and traceability technologies, safeguard against contamination and ensure compliance with regulatory standards, enhancing consumer confidence in processed meat products. These technological advancements collectively improve production efficiency, product quality, and food safety standards, driving growth and innovation in the processed meat industry.

• Expansion of Retail Channels and Distribution Networks:

The expansion of retail channels and distribution networks, such as supermarkets, hypermarkets, convenience stores, and online platforms, has significantly influenced the processed meat market. Supermarkets and hypermarkets offer a wide array of processed meat products, providing consumers with convenience and variety in one location. Convenience stores cater to on-the-go consumers, offering quick access to processed meat snacks and meals. Moreover, the rise of online platforms has transformed the industry, enabling consumers to purchase processed meat products from the comfort of their homes, providing convenience, accessibility, and often competitive pricing. Overall, the expansion of these retail channels and distribution networks has enhanced the accessibility and availability of processed meat products, driving market growth.

Processed Meat Market Report Segmentation:

By Meat Type:

• Poultry
• Beef
• Mutton
• Pork
• Others

Poultry, such as chicken and turkey, is the largest segment in the processed meat market due to factors like its relatively lower cost, versatility, and perceived healthiness compared to red meats, making it a popular choice among consumers worldwide.

By Product Type:

• Fresh-Processed Meat
• Raw Fermented Meat
• Raw-Cooked Meat
• Pre-Cooked Meat
• Cured Meat
• Dried Meat
• Others

Fresh-processed meat products, which include freshly prepared and packaged meat cuts, sausages, and deli meats, dominate the market due to their convenience, wide availability, and appeal to consumers seeking minimally processed options with shorter shelf life.

By Processing Type:

• Chilled
• Frozen
• Canned

Chilled processing, involving the refrigeration of meat products during processing and distribution, is the largest segment in the processed meat market due to its ability to maintain product freshness, quality, and food safety standards, meeting consumer preferences for chilled and ready-to-eat meat products.

By Distribution:

• Institutional Sales (HoReCa)
• Retail Sales
o Supermarkets and Hypermarkets
o Grocery Stores
o Specialty Retailers
o Online Stores
o Others

Retail sales, encompassing supermarkets, hypermarkets, convenience stores, and online platforms, dominate the processed meat market as consumers predominantly purchase processed meat products for home consumption, driving demand through retail channels.

Regional Insights:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

North America leads the global processed meat market due to factors such as high meat consumption rates, widespread availability of processed meat products, established distribution networks, and consumer preferences for convenience foods, contributing to the region's dominance in the market.

Competitive Landscape:

The competitive landscape of the market has been studied 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.
• OSI Group
• Perdue Farms
• Pilgrim's Pride
• Sadia
• Sanderson Farms Inc
• Sysco
• Tyson Foods

Speak to An Analyst: https://www.imarcgroup.com/request?type=report&id=825&flag=C

Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• 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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