Press release
Processed Meat Market Size Will Reach USD 445.4 Bn by 2031 - Persistence Market Research
The global processed meat market is experiencing robust growth, driven by increasing consumer demand for convenient and protein-rich food products. Rising urbanization, evolving dietary preferences, and the expansion of the foodservice industry are key contributors to the market's expansion. Processed meat products, including frozen, canned, and ready-to-eat items, continue to gain traction due to their extended shelf life and ease of preparation.
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The global processed meat market is projected to witness significant growth, expanding from US$312.4 Bn in 2024 to US$445.4 Bn by 2031. This growth is expected to be fueled by increasing consumption trends, technological advancements in meat processing, and a rising preference for high-protein diets. The market is anticipated to register a CAGR of 5.2% during the forecast period from 2024 to 2031.
Key Growth Determinants
Increasing Demand for Convenience Foods - The fast-paced lifestyle of consumers has resulted in a growing preference for ready-to-eat and packaged meat products.
Expanding Foodservice Industry - The rapid expansion of quick-service restaurants (QSRs) and institutional catering is boosting the processed meat market.
Advancements in Preservation Technology - Innovations in freezing, packaging, and processing techniques enhance product shelf life and safety.
Rising Disposable Income - Growing disposable income levels are encouraging increased spending on processed meat products worldwide.
Major Growth Barriers
Health Concerns and Regulatory Restrictions - Rising awareness of health risks associated with processed meat, such as obesity and cardiovascular diseases, could hamper market growth.
Supply Chain Disruptions - Challenges in the meat supply chain, including fluctuations in raw material prices and livestock diseases, may impact production.
Consumer Shift Towards Plant-Based Alternatives - Increasing adoption of plant-based diets and vegan meat substitutes may slow down the market expansion.
Key Trends and Opportunities to Look At
Rise of Organic and Natural Processed Meat - Consumers are shifting toward organic, antibiotic-free, and preservative-free meat options.
Technological Advancements in Processing - Emerging technologies like high-pressure processing (HPP) and cold plasma technology are improving meat preservation.
E-Commerce Growth in Meat Distribution - Online grocery platforms and direct-to-consumer meat delivery services are enhancing market accessibility.
Regional Expansion - Emerging markets in Asia-Pacific and Latin America present untapped opportunities for global players.
Regional Frontrunners
North America: Dominates the market with strong demand from QSR chains and a well-established cold chain infrastructure.
Europe: Witnessing steady growth due to increased demand for premium processed meat products.
Asia-Pacific: Expected to grow at the fastest rate, driven by urbanization, increasing meat consumption, and expansion of retail channels.
Latin America & Middle East & Africa: Showing growth potential due to rising fast-food culture and increasing disposable incomes.
Key Market Players
Tyson Foods, Inc.
JBS S.A.
Hormel Foods Corporation
WH Group Limited
Smithfield Foods, Inc.
Cargill, Incorporated
BRF S.A.
Nippon Ham Group
OSI Group
Marfrig Global Foods S.A.
Processed Meat Industry Research Segmentation
By Meat Type
Poultry
Beef
Pork
Others
By Product Type
Frozen
Chilled
Canned
By Application
Commercial
Residential
By Distribution Channel
HoReCa
Supermarkets/Hypermarkets
Convenience Stores
Independent Retailers
Others
By Region
North America
Europe
Asia Pacific
Latin America
Conclusion
The global processed meat market is set to experience substantial growth, fueled by increasing demand for convenience foods, rising urbanization, and advancements in food preservation technology. However, challenges such as health concerns, supply chain issues, and the rising popularity of plant-based alternatives could impact market dynamics. Companies focusing on innovation, sustainability, and e-commerce distribution are likely to gain a competitive edge in the evolving landscape.
About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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