Processed Meat Market to Reach $519.8 Billion by 2033, Growing at 4.5% CAGR

According to a recent report by Fact.MR, a market research and competitive intelligence provider, the sales of processed meat are projected to reach a valuation of $356.5 billion by 2031, expanding at a CAGR of around 4.6% over the next ten years.

The Processed Meat segment encompasses all types of processed meat, divided into subsegments such as Ham & Bacon, Sausages, and Cold & Roast Meat Products, excluding fresh meat or pre-cooked meat-based ready-to-eat meals.

Key factors driving the growth of the global processed meat market include increased disposable income and reduced time for home cooking due to busy lifestyles. These factors are expected to significantly boost the market during the forecast period.

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In the global food and beverage industry, innovation and new product development emphasize strong natural, health, and sustainability credentials. Products made with healthy and nutritious ingredients and labeled with minimal processing or clear health benefits from natural components are particularly appealing to consumers in developed economies with higher incomes and an aging population.

Emerging markets such as China and India are expected to play a crucial role in the global meat and poultry sector due to rising affluence and healthy eating trends. Packaged processed meat products, sold by established corporations like WH Group in China and Godrej Tyson Foods Ltd in India, are considered hygienic and high-quality. These companies are increasingly focusing on chilled processed meat to meet consumer demand for fresher, healthier products.

Increased Demand for Essential Nutrition Driving Global Market
Despite trends toward vegetarian diets, processed meats remain a key part of consumers' diets, particularly as a source of protein. According to a recent Fact.MR survey, only about 3% of consumers exclude meat from their diet for a 14-day period. However, the percentage of meals containing meat has steadily decreased, with meat increasingly used as an ingredient rather than a main dish.

The COVID-19 pandemic had a significant impact on the meat production and supply chain, affecting key distribution channels such as hotels, restaurants, and cafes. Quick-service restaurant chains like McDonald's, KFC, Subway, and Burger King faced closures, leading to revenue losses for the global processed meat market during lockdown periods.

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Key Market Players
JBA SA
Hormel Foods
Harim Co. Ltd.
Tyson Foods Inc.
Danish Crown A/S
Cargill Meat Solution Corp.
WH Group
BRF SA
Smithfield Foods Inc.
SYSCO Corp.
OSI Group
ConAgra Foods Inc.
Cherkizovo Group PJSC

Key Takeaways from the Processed Meat Market Study
Quantitative analysis of market trends, estimates, and dynamics from 2020 to 2030 to identify prevailing opportunities.
Porter's five forces analysis highlights the power dynamics between buyers and suppliers.
In-depth analysis of market size and segmentation helps identify market opportunities.
Major countries in each region are mapped according to their market revenue contribution.
Market player positioning provides a clear understanding of the current market status of industry players.

Key Segments in the Processed Meat Industry
By Product Type:
Processed Beef
Processed Pork
Processed Poultry Meat
Processed Sheep Meat

By Nature:
Organic Processed Meat
Conventional Processed Meat

By Form:
Fresh or Chilled Processed Meat
Frozen Processed Meat
Shelf Stable Processed Meat

By End-use Application:
Processed Meat for Food Processing Industry
Processed Meat for Food Service Industry
Retail Sales of Processed Meat
Hypermarkets/Supermarkets
Traditional Grocery Stores
Convenience Stores
Discount Stores
Online Retail Stores
Others

Browse Full Report with TOC: https://www.factmr.com/report/2360/processed-meat-market

Who is Winning in This Space?
Consumer preference for organic food products is expected to rise significantly. Manufacturers and distributors of processed meat are adapting their offerings to meet this demand. Due to high profit margins and consumer interest in natural products, many manufacturers are entering the organic processed meat market, with several companies expected to launch organic products in the next 2-3 years.

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This release was published on openPR.