Press release
Processed Meat Market Anticipated to Garner a Revenue of $4,79,472.50 Million and Rise at a CAGR of 7.20% during the Analysis Timeframe from 2021-2028
Processed Meat Market
The global processed meat market is predicted to see striking growth due to the increased prevalence of ready-to-eat meat products worldwide. The North America region is expected to have huge growth opportunities over the estimated timeframe.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐ง๐จ๐ฐ @ https://www.researchdive.com/download-sample/4151
๐๐๐ซ๐ค๐๐ญ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ
As per our analysts , with the growing demand for ready-to-eat meat products due to the increasing number of working professionals, hectic lifestyles and busy schedules, the market is expected to observe significant growth during the analysis period. Besides, the growing urbanization and the increasing per capita income among millennials is further expected to boost the growth of the processed meat market during the forecast period. Furthermore, the increasing demand for animal protein among fitness-obsessed people all over the world is expected to foster the growth of the market over the estimated period. However, the rising consideration of processed meat as unhealthy food, which can increase the risk of chronic diseases such as cardiovascular diseases, cancer may hamper the growth of the market during the forecast period.
๐๐๐๐๐-๐๐ ๐๐ฆ๐ฉ๐๐๐ญ ๐จ๐ง ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ
The processed meat market was negatively impacted due to the COVID-19 pandemic outbreak. To check the spontaneous spread of the COVID-19 virus among people, the shutting down of hotels, cafes, and restaurants took place during the pandemic period. This led to a reduction in the demand for processed meat. Moreover, the leading companies limited their facilities for meat processing during the crisis, which has further declined the market's growth.
๐๐๐ ๐ฆ๐๐ง๐ญ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ
The report has divided the processed meat market into segments based on meat type, product, distribution channel, and region.
Based on meat type, the poultry type sub-segment is expected to generate a revenue of $1,95,272.50 million during the analysis period. This is mainly due to the low cost and high nutritional value of poultry meats. Moreover, the increasing efforts of leading companies in adopting various new strategies to attract consumers are expected to bolster the growth of the market over the forecast period.
Based on product, the frozen sub-segment is expected to garner a revenue of $2,90,669.30 million over the analysis time period. This is mainly because of the growing demand for ready-to-eat food that is widely available in frozen forms. In addition, consuming frozen meats is quite safe as the low temperature restricts the growth of harmful bacteria and microbes. This factor is expected to fortify the growth of the processed meat market sub-segment during the estimated period.
Based on distribution channel, the supermarkets/hypermarkets sub-segment is anticipated to garner a revenue of $2,95,508.80 million during the forecast timeframe. This is broad because of the availability of various processed meat products in the supermarket along with the freedom of choosing the products. Moreover, supermarkets providing a good quality of processed meat products at affordable prices and giving exciting discounts on them are the factors expected to fuel the growth of the processed meat market sub-segment during the analysis period.
Based on region, the North America processed meat market is projected to generate a revenue of $1,85,076.40 million throughout the analysis timeframe. This is mainly due to the increasing trend of trying new processed meat products among people of this region. In addition, the strong existence of leading companies and more preference for meat-based breakfast are expected to augment the growth of the market during the forecast period.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง @ https://www.researchdive.com/request-for-customization/4151
๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ
The major players of the processed meat market include American Foods Group, LLC., Hormel Foods Corporation, Perdue Farms, Inc, Cargill, Incorporated, Tyson Foods, Inc., Koch Foods, LLC., Smithfield Foods, Inc., Swiss Meat & Sausages Co., JBS S.A., OSI Group and many more. These players are working on the development of new business strategies to achieve leading positions in the global industry.
In addition, the report also summarizes other vital aspects such as SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic developments.
๐๐จ๐ง๐ญ๐๐๐ญ:
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