How Has the Processed Meat Market Size Evolved in Recent Years?
The processed meat market has seen considerable growth due to a variety of factors.
• The dimension of the processed meat market has impressively expanded in the past few years. Projection for its growth implies an increase from $830.02 billion in 2024 to an anticipated $908.87 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 9.5%.
Factors that propelled growth in the previous period include heightened urbanization, lifestyle transformations, escalated requirement for convenience foodstuff, burgeoning population, and amplified disposable income.
What are the Market Size and Expected Growth Rates for the Processed Meat Market?
The processed meat market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the processed meat market to experience significant growth in the upcoming years. The market is predicted to reach $1295.12 billion in 2029, with a compound annual growth rate (CAGR) of 9.3%.
This forecasted expansion during this period can be linked to the escalating growth in the manufacturing sector, a rise in the consumption of packaged foods, and an increase in the working female population. There is also a surge in demand for fresh meat from health-conscious individuals and those seeking protein-based diets. Some notable trends for this period include improvements in freezing technology, premium and specialty products, customization and personal touch, ingredients labeled as clean and natural, as well as plant-based and alternative proteins.
Which Key Drivers Are Propelling The Processed Meat Market's Growth?
The escalating demand for various processed food items is set to catalyze the expansion of the processed meat market in the future. Processed food, which includes frozen, canned, cooked, packaged, and nutritionally altered food through fortification, preservation, or assorted preparation methods, is becoming increasingly popular. Such meat offers numerous benefits, such as improved taste, reduced likelihood of meat-related diseases, extended shelf life, and exceptional portability. The United States Department of Agriculture, a federal agency based in the US, reported in September 2023 that the US processed food products' total export value reached $36.61 billion, marking a 6.63% rise from $34.19 billion in 2021. Simultaneously, Canada's export value of processed food products stood at $12.23 billion, while that of Mexico was pegged at $5.86 billion in the same year. Therefore, the upswing in the consumption of various processed food items is poised to stimulate the processed meat market's growth.
What Are The Key Segments Within The Global Processed Meat Market?
The processed meat market covered in this report is segmented –
1) By Product: Chilled, Frozen, Canned Or Preserved
2) By Processing: Fresh Processed Meat, Raw Cooked Meat, Precooked Meat, Raw Fermented Sausages, Cured Meat, Dried Meat, Other Processing
3) By Meat Type: Poultry, Beef, Mutton, Pork, Other Meat Types
4) By Nature: Organic, Conventional
5) By Distribution Channel: Super market Or Hyper market, Grocery Stores, Specialty Retailers, Online Stores, Other Distribution Channels
Subsegments:
1) By Chilled: Fresh Sausages, Cooked Meats, Sliced Meats
2) By Frozen: Frozen Sausages, Frozen Burgers, Frozen Meat Meals
3) By Canned or Preserved: Canned Meat, Potted Meat Products, Deli Meats
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How Are New Trends Impacting The Size Of The Processed Meat Market?
A significant trend emerging within the processed meat sector involves plant-based meat alternatives. These are food products manufactured from plant ingredients, designed to replace traditional meats such as sausages, steaks, beef patties, fillets, bacon, nuggets, among other commonly consumed meat dishes. For instance, Beyond Meat, a corporation based in the United States with expertise in plant-based meat substitutes, unveiled its latest product, Sun Sausage, in July 2024. This marked their debut of a plant-based alternative that does not seek to emulate beef, pork or poultry. This unique protein source, suitable for various culinary uses, encompasses nutritious ingredients such as spinach, bell peppers, brown rice, and red lentils. The Sun Sausage comes in three unique flavours—Pineapple Jalapeno, Pesto, and Cajun—and will be sold exclusively at Sprouts Farmers Markets nationwide.
Who Are the Key Players in the Processed Meat Market?
Major companies operating in the processed meat market include:
• Cargill Incorporated
• Tyson Foods Inc.
• National Foods Limited
• Hormel Foods Corporation
• Smithfield Foods Inc.
• Pilgrim's Pride Corporation
• Conagra Brands Inc.
• BRF S.A.
• Foster Farms
• JBS S.A.
• Koch Foods LLC
• Marfrig Global Foods S.A.
• National Beef Packing Company LLC
• Sanderson Farms Inc.
• Marel hf
• Perdue Farms Inc.
• Sadia S.A.
• Danish Crown A/S
• Keystone Foods LLC
• Empire Kosher Poultry Inc.
• Butterball LLC
• Boar's Head Provisions Co. Inc.
• Applegate Farms LLC
• Johnsonville LLC
• Farmland Foods Inc.
• Hillshire Brands Company
What are the Regional Insights into the Processed Meat Market?
North America was the largest region in the processed meat market in 2024. Europe was the second-largest region in the processed meat market share. The regions covered in the processed meat market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
