Processed meat refers to meat that has been enhanced with additives and preservatives, including acidifiers, minerals, salts, and various seasoning and flavoring agents. The primary purpose of processing meat is to improve its quality, prevent spoilage, and enhance its taste. This can involve red and white meat from swine, poultry, cattle, or sea animals. Processed meat has various uses and applications in the culinary world. It is commonly utilized to create sandwiches, burgers, sausages, deli meats, and canned meat products. Processed meat is also incorporated in ready-to-eat meals, frozen foods, and as ingredients in diverse recipes, adding convenience and flavor to various dishes.
According to Data Bridge Market Research, the Processed Meat Market is expected to reach USD 463,725.60 million by 2029. The market is expected to grow with a CAGR of 5.4% in the forecast period of 2022 to 2029.
“Increase in disposable income boosts the market’s growth”
The processed meat market is experiencing growth due to increased disposable income among consumers. As disposable income rises, individuals have more purchasing power and are inclined to spend on convenient and ready-to-eat food options like processed meat products. Moreover, processed meat offers convenience, longer shelf life, and a variety of flavors, making it an attractive choice for busy consumers. Additionally, the growing urban population and changing lifestyles, coupled with increased urbanization and globalization, further contribute to the growth of the processed meat market.
What restraints the growth of the processed meat market?
“Rise in the incidences of obesity restraints the market’s growth”
The rise in the incidences of obesity restrains the growth of the processed meat market. Increased awareness about the health risks associated with excessive processed meat consumption, such as obesity, cardiovascular diseases, and certain types of cancer, has led to a shift in consumer preferences towards healthier and more balanced diets. As a result, consumers are seeking alternative protein sources and reducing their intake of processed meats. The growing focus on health and wellness is impacting the demand for processed meat products and posing challenges for market growth.
Segmentation: Processed Meat Market
The processed meat market is segmented on the basis of type, product type, category, nature, packaging type, packaging material, end-user and distribution channel.
- On the basis of type, the processed meat market has been segmented into fresh processed meat, frozen meat, chilled meat, canned meat, dried/semi dried meat, fermented meat, and others.
- On the basis of product type, the processed meat market has been segmented into beef, pork, goat, lamb, chicken, turkey, duck, and fish.
- On the basis of category, the processed meat market has been segmented into cured and uncured.
- On the basis of nature, the processed meat market has been segmented into organic and conventional.
- On the basis of packaging type, the processed meat market has been segmented into trays, pouches, boxes, cannisters and others.
- On the basis of packaging material, the processed meat market has been segmented into plastic, glass, paper/cardboard, metal, and others.
- On the basis of end-user, the processed meat market has been segmented into household and food service sector.
- On the basis of distribution channel, the processed meat market has been segmented into store based retailers and non-store based retailers.
Regional Insights: Asia-Pacific is expected to grow the processed meat market
Asia-Pacific region is expected to grow with the highest growth rate in the forecast period of 2022 to 2029, fueled by increased investments and collaborations within the industry. The dominant market segment in China is projected to be the product type segment, primarily driven by the rising popularity of canned and frozen meat food. This indicates a growing consumer preference for convenient and preserved meat products. The investments and collaborations in the meat processing business reflect the industry's efforts to meet the evolving demands of consumers and expand market reach in the region.
Germany is expected to lead the growth of the European market, and the product type segment due to increased urbanization and the growing adoption of a healthy lifestyle, the product type segment is anticipated to dominate in this country. In the United States, the market is expected to witness significant growth in the North American region, driven by factors such as the presence of fast food and restaurant chains. The dominance of the product type segment reflects the changing consumer preferences and the demand for convenient food options.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-processed-meat-market
Recent Developments
- In January 2021, Ingemar Johansson was acquired by KLS Ugglarps, a Swedish subsidiary of Danish Crown. This strategic acquisition has enabled the company to enhance its market position in Sweden, particularly in the sausages and other processed products segment. By adding Ingemar Johansson to its portfolio, KLS Ugglarps has strengthened its presence and competitiveness in the Swedish market for processed meat products, further solidifying its position as a key player in the industry.
- In January 2021, Vion Food Group announced its acquisition of Adriaens, a beef producer in Zottegem. By acquiring Adriaens, Vion Food Group aims to strengthen its position in the country and establish a robust supply chain for high-quality and transparent beef products. This strategic acquisition enables Vion Food Group to enhance its offerings and ensure a reliable and traceable beef supply, further solidifying its commitment to meeting the market's demands and maintaining top-notch quality standards.
The Prominent Key Players Operating in the Processed Meat Market Include:
- Cargill, Incorporated (U.S.)
- JBS Foods (Brazil)
- Tyson Foods, Inc. (U.S.)
- Smithfield Foods, Inc. (U.S.)
- Hormel Foods Corporation (U.S.)
- Groupe Bigard (France)
- NH Foods Ltd. (Japan)
- Louis Dreyfus Company (Netherlands)
- Tönnies Group (Germany)
- Koch Foods (U.S.)
- Gausepohl Fleisch Deutschland GmbH (Germany)
- HKScan (Finland)
- Gruppo Veronesi (Italy)
- TERRENA (France)
- Müller Gruppe (Germany)
- OSI Group (U.S.)
- Charoen Pokphand Foods PCL. (Thailand)
- Perdue Farms Inc. (U.S.)
- Sanderson Farms, Incorporated (U.S.)
- National Beef Packing Company L.L.C. (U.S.)
- Westfleisch SCE mbH (Germany)
- Marfrig (Brazil)
- Vion Food Group (Netherlands)
- Danish Crown A.M.B.A (Denmark)
- The Kraft Heinz Company (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of processed meat market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Processed Meat Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
