In October 2021, JBS Foods Purchased a Regional Producer Sunnyvalley Smoked Meats, of Processed Meats for $90 Million

Processed meat can be defined as meat that is supplemented with several additives and preservatives such as acidifiers, minerals, salts, and various other seasoning and flavoring agents. The meat is primarily processed to enhance its quality, prevent it from degeneration, and add flavors to its original composition. It can be either red meat or white meat from swine, poultry, cattle, or sea animal meat. Meat such as beef, pork, turkey, chicken, and lamb are commonly used to produce processed meat. Various processed meat products include pepperoni, jerky, hot dogs, and sausages. Certain preservatives are added to the meat to protect it from spoiling due to bacteria and other such organisms.   ​

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The Global Processed Meat Market is expected to reach USD 463,725.60 million by 2029 from USD 305,282.12 million in 2021, growing at a CAGR of 5.4% in the forecast period of 2022 to 2029. Major factors that are expected to boost the growth of the processed meat market in the forecast period are the increase in disposable income. Furthermore, the rise in the share of working-class specialists is further anticipated to propel the growth of the processed meat market. Moreover, the decrease in the time taken to cook meat at home because of the hectic lifestyle is further estimated to supplement the processed meat market growth further.         

Growing urbanization and increased adoption of healthy lifestyle across the world will drive the market's growth rate

Nowadays, people are becoming more aware of the health benefits of protein-rich food such as meat, which boosts the demand in the market. In addition, increasing urbanization, which results in high disposable income, ultimately shifts consumers' preference towards healthy food alternatives. Meat products are rich in protein, amino acid and offers a rich source of protein and several vitamins and minerals, including vitamin B12, niacin, and selenium. Moreover, nutrients in meat, including iron and zinc are typically more easily absorbed and used by the body. Moreover, consumers are consuming more meat products due to its various health benefits, thus driving the market growth. Moreover, precautions for maintaining a healthy lifestyle have increased recently, thereby influencing the market's growth.

Report Scope and Market Segmentation

Segment Analysis:

The global processed meat market is segmented into eight notable segments based on type, product type, category, nature, packaging type, packaging material, end-user and distribution channel.

• On the basis of type, the global processed meat market is segmented into fresh processed meat, frozen meat, chilled meat, canned meat, dried/semi dried meat, fermented meat and others. In 2022, fresh processed meat segment is expected to dominate the processed meat market with a 27.73% market share due to rising consumer preference for the fresh processed meat as it contains high nutrition such as large amount of L-carnitine, high amount of protein, minerals, vitamins, irons, and antioxidants.
• On the basis of product type, the global processed meat market is segmented into beef, pork, goat, lamb, chicken, turkey, duck, and fish. In 2022, chicken segment is expected to dominate the processed meat market with a 29.05% market share due to increasing import and export of poultry meat.
• On the basis of category, the global processed meat market is segmented into cured and uncured. In 2022, cured segment is expected to dominate the processed meat market with a 62.38% market share due to longer shelf life of cured meat as compare to uncured meat.
• On the basis of nature, the global processed meat market is segmented into Organic and Conventional. In 2022, Conventional segment is expected to dominate the processed meat market with a 58.58% market share due to lower costs of inorganic meat when compared to organic meat.
• On the basis of packaging type, the global processed meat market is segmented into trays, pouches, boxes, cannisters and others. In 2022, pouches segment is expected to dominate the processed meat market with a 34.03% market share due to the malleability and low weight of pouches.
• On the basis of packaging material, the global processed meat market is segmented into the plastic, glass, paper/cardboard, metal and others. In 2022, plastic segment is expected to dominate the processed meat market with a 34.63% market share due to due to lightweight and easy to handle nature of plastic packages.
• On the basis of end-user, the processed meat market is segmented into household and food service sector. In 2022, food service sector segment is expected to dominate the processed meat market with a 62.66% market share due to the rapid expansion of fast-food chains such as KFC, McDonalds, Subway, Burger King, and Taco Bell.

The food service sector segment will dominate the end user segment of the processed meat market

The food service sector segment will emerge as the dominating segment under end user segment. This is because of the growing number of food service industries in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

• On the basis of distribution channel, the global processed meat market is segmented into store based retailers and non-store base retailers. In 2022, store based retailers segment is expected to dominate the processed meat market with a 50.48% market share due to availability of trained company representatives in the supermarkets and hypermarkets.

The store based retailers segment will dominate the distribution channel segment of the processed meat market

The store based retailers segment will emerge as the dominating segment under distribution channel with approximately 50% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the chemicals and industry all around the globe will further bolster the growth of this segment.

Major Players         

Data Bridge Market Research recognizes the following companies as the market players in power plant boiler market: Cargill, Incorporated (U.S.), JBS Foods (U.S.), 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 GmbH (Germany), and The Kraft Heinz Company (U.S.).

Market Development

• In November 2021, JBS Foods announced bringing cultivated meat to the market till 2024. The company is launching this product with BioTech Foods. This will help the company attract more customers and widen its product portfolio.
• In October 2021, Tyson Foods Inc. laced Tyson Air Fried Chicken Bites, the protein-packed snack with 75% less fat and 35% less calories than fast food breaded chicken options. This has helped the company to widen its product portfolio.
• In October 2021, JBS Foods purchased a regional producer Sunnyvalley Smoked Meats of processed meats for $90 million. This has helped the company with regional expansion.
• In November 2020, Louis Dreyfus Company acquired a majority stake in ASIA GENERAL FOOD. This acquisition has helped the company with regional expiation.

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in processed meat market during the forecast period 2022 to 2029

In 2022, the Asia-Pacific region is expected to dominate the market due to increase in the growing popularity of canned and frozen meat food. The product type segment in China is projected to dominate the Asia-Pacific market owing to the growing popularity of canned and frozen meat food.

Europe is estimated to be the fastest-growing region in processed meat market the forecast period 2022 to 2029

Germany will hold slightly more than a quarter of the European market in 2022. Chicken nuggets are expected to be a popular processed meat snack in Germany through 2033, driving demand for processed poultry meat.

COVID-19 Impact

The COVID-19 pandemic had a negative impact on meat production and supply chain. Hotels, restaurants, and cafes play an important role in the processed meat market's distribution channel. Most notably, fast food restaurants such as McDonalds, KFC, Subway, and Burger King were forced to temporarily or permanently close during the COVID-19 period. Customers' options for dine-in were limited at these restaurant chains. Due to travel restrictions, the cafes, as were the hotels, were completely closed. Due to the non-operation of this important distribution channel, the global processed meat market suffered revenue losses during the lockdown period.

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