Market Outlook:

The anticipated global processed meat market size is poised to reach USD 519.41 Million by 2024, with a projected escalation to USD 1,101.94 Million by 2032, reflecting a compound annual growth rate (CAGR) of 6.06 % during the forecast period. 

Processed meats are prepared from wholesale cuts of muscle and fat, carcass trimmings, and some no-muscle cuts alike liver. There are two types of processed meats: fresh processed meat and processed meat that has been cured and smoked. Ground beef, mechanically separated meat (MSM) from bone, steaks that have been tenderized by enzymes and mechanical means, fresh pork products that have been marinated and moistened, and frozen meat products are all examples of fresh processed meat. Other processed meat items include Vienna-style wieners, stews, canned soups with ham, canned ham, and canned SPAM. Snack sticks, jerky, roast beef, sliced baked bread, and other delicatessen products are additional examples of ready-to-eat meats (RTE). To guarantee a lengthy shelf life, processed meats are frequently vacuum-packed. If sliced, they might have a high surface/volume ratio and be quite spicy. These elements promote the growth of pathogens during extended storage, which can be stopped by 2.5–3 kGy. Products comprising at least 30% meat and those made entirely of flesh are both considered processed meat. Processing is the process of preparing meats for products with additional value. 

Market Dynamics:

Driver:

The growing necessity for protein-rich diets drives the growth of the processed meat market. Meats are now a major dietary component for many people due to the global rise in consumer health consciousness, which has increased demand for diets high in protein. Many body processes, such as muscular growth and repair and general health maintenance, depend on protein. Meats offer an appropriate means of meeting these nutritional needs due to their high protein content. The industry is answering to this demand by increasing its product line to contain a range of meats that have been treated to improve flavor and shelf life while preserving nutritional content. The reduction of harmful flavors and additives brought about by improvements in meat processing methods has also improved the demand for meats for health-conscious people. 

Restraint:

The expanding health concerns hinder the growth of the processed meat market. Consuming too much-processed beef can lead to numerous health issues, such as cancer and heart disease. It has been categorized as a carcinogen by the World Health Organization (WHO), which means that it has the prospective to cause cancer. Eating processed beef has been interconnected in studies to a bloated risk of stomach, pancreas, and colon cancers. The extreme amounts of salt, saturated fat, and nitrate originating in processed meats can increase blood pressure and heart disease. Moreover, they might be associated with obesity, digestive problems, and an increased risk of type 2 diabetes. Due to health concerns, consumers are becoming more aware of their meals and searching for better options. Customers' need and consumption of nutrient-dense meat may be weakening as a result.

Opportunity:

The increasing technological advancements in food processing create a lucrative opportunity for the growth of the processed meat market. Modern technologies comprising vacuum packaging, smoking, curing, and high-pressure processing (HPP) have expressively increased the safety, quality, and shelf life of meat products. By assuring that meat products hold their nutritional value, flavor, and texture over time, these improvements make them more attractive to consumers who place a high value on superiority and accessibility. To meet the growing demand globally, technology has also allowed producers to boost output while conserving a steady level of product quality. Improvements in processing methods also contribute to a decrease in food waste, which is a concern for both producers and consumers, by improving the usage of meat products. As customers become more aware of sustainability and food safety worries, the development of classy processing technology gives them peace of mind about the quality of the goods they eat, which is boosting market expansion.

Challenge:

Stricter laws governing the preparation and labeling of meat products are being enforced by governments more frequently. limitations on the permitted levels of nitrates, salt, and other additives in processed meats. requires that components, processing techniques, and possible health concerns related to intake be labeled more clearly. Regulations may make it more difficult to create novel and inventive items and raise production costs for producers. Furthermore, consumers may be discouraged by unambiguous labeling that emphasizes the health risks connected to processed meats. 

Key Players:

• Cargill Inc.
• Tyson Foods Inc.
• Smithfield Foods Inc. 
• Advance Food Company Inc.
• Pilgrim’s Pride Corporation
• Swiss Meat & Sausage Co.
• BRF SA
• National Beef
• JBS S.A
• Perdue Farms, Inc.
• Hormel Foods Corporation
• Sanderson Farms Inc
• Hormel Foods Corporation 
• Others

Recent Development:

• In August 2022, Hormel Foods Corporation revealed a new strategic operating model that will make its companies more market-driven, consumer-focused, and nimble.

• In February 2024, Cargill Inc. made a partnership with Ahold Delhaize USA The company has made investments in two processing facilities to increase the amount of supermarket-case-ready beef and pork it produces and distributes to retailers in the Northeast region of the nation.

Segment Insights:

By Processing Type

The chilled sector holds the biggest market share, mostly due to its ability to meet consumer demands for minimal processing and freshness, two important variables that influence consumer choices. The taste and texture of chilled meats, which include a variety of cuts and varieties of meats that are kept in the refrigerator but not frozen, are preferred because they resemble fresh meat. Customers' belief that chilled meats are superior to their frozen or canned equivalents in terms of quality and health underscores the importance of this market. A wider market trend toward convenience meals that don't sacrifice flavor or nutritional content is reflected in consumers' preference for chilled meats. This trend is propelling advancements in packaging and preservation methods to increase shelf life without using excessive amounts of preservatives. 

By Meat Type

The market has been thoroughly broken down and analyzed by meat type in the research. This covers, among other things, beef, mutton, pork, and fowl. Poultry accounted for the greatest segment, the research stated. Due to its broad consumer acceptability, purported health benefits, and adaptability to many cuisines, chicken dominates the worldwide meat market. In line with consumer trends toward more health consciousness, poultry especially chicken is seen as a lean source of protein and has fewer saturated fats than red meats. Its dominating position is also influenced by its accessibility and cost in many areas. The product line has grown to accommodate a wider range of consumer tastes and preferences due to advancements in poultry processing, packaging, and flavoring.

 Regional Insights:

North America holds the dominating position in the processed meat market. The existence of significant food processing businesses and sophisticated distribution networks that guarantee the broad availability of a variety of meat products further reinforces the region's market supremacy. The high consumption of meats in North America is a result of consumers' predilection for diets strong in protein, especially in the US and Canada. Additionally, the market is shifting toward premium and healthier meat products, which reflects customers' increased health concerns. Due to changing dietary choices, urbanization, and rising disposable income, the Asia Pacific region is seeing the fastest growth in the processed meat market. The region's diverse culinary traditions and growing acceptance of Western eating habits have led to an expansion in the variety of meat consumers. Pork and poultry are preferred in the Asia Pacific market, and demand for frozen and ready-to-eat meat products is rising.

Segmentation:

By Product Type

• Hamburgers
• Fried Sausages
• Kebab
• Chicken Nuggets
• Others

By Form

• Frozen
• Canned
• Chilled

By Meat Type

• Poultry
• Beef
• Pork
• Mutton
• Others

By Nature

• Organic
• Conventional

By Distribution Channel

• Hypermarket/Supermarket
• Convenience Stores
• Specialty Stores
• Others

By Region

North America

• USA

• Canada

• Mexico

Europe

• France

• UK

• Spain

• Germany

• Italy

• Rest of Europe

Asia Pacific

• China

• Japan

• India

• South Korea

• Rest of Asia Pacific

Middle East & Africa

• GCC

• South Africa

• Rest of the Middle East & Africa

South America

• Brazil

• Argentina

• Rest of South America

What to Expect from Industry Profile?

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Processed Meat market in the world.

2. Use PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Processed Meat market.

3. Leading company profiles reveal details of key Processed Meat market players’ global operations, strategies, financial performance & recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Processed Meat market with forecast for the decade by both market share (%) & revenue (USD Million).

FAQ’s

1) What are the major factors driving the growth of the Global Processed Meat Market?

• The growing necessity for protein-rich diets drives the growth of the processed meat market. 

2) What would be the CAGR of the Global Processed Meat Market over the forecast period?

• The Global Processed Meat Market is poised to grow at a CAGR of 6.06% from 2024 to 2032.

3) Which region will provide more business opportunities for the growth of the Global Processed Meat Market in the future?

• The North America region is expected to create more opportunities in the market.

4) Who are the major players dominating the Global Processed Meat Market?

• Cargill Inc., Tyson Foods Inc., Smithfield Foods Inc., Advance Food Company Inc., Pilgrim’s Pride Corporation, Swiss Meat & Sausage Co., BRF SA, National Beef, JBS S.A, Perdue Farms, Inc., Hormel Foods Corporation, Sanderson Farms Inc, Hormel Foods Corporation, Others.

5) What are the segments in the Global Processed Meat Market?

• By Product Type, By Form, By Meat Type, By Nature, and By Distribution Channel are the industry key segments considered for research study.

6) What is the estimated market revenue for the Global Processed Meat Market in 2032?

The estimated revenue for the Global Processed Meat Market in 2032 is USD 1,101.94 Million.