According to a recent market study published by Growth Market Reports, titled, “Global Processed Meat Market – by meat type, by product types, by Storage Types, by distribution, and by regions: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at US$ 445.28 Billion in 2020 and is expected to grow at a moderate growth rate of 9.13 % by the year 2028. Increasing inclination towards flavored meat products expected to act as a driving force for the market and rising awareness for organic processed meat products is expected to drive the market growth during forecast period.

Request a free sample copy @ https://growthmarketreports.com/request-sample/2614

Processed meat is taken into consideration as any meat that has been changed for the improvement in its flavor or for extending its shelf lifestyles. There are several methods available in the market for processing meat such as fermentation, salting, smoking, and curing. Processed meat is generally composed of beef or red meat, however additionally chicken, whilst it could also include offal or meat with the aid of merchandise such as blood. 

Globally, many different types of processed meat products are available including canned meat, sausages, corned beef, bacon, warm dog, salami, lunch meat, jerky, ham, and meat-based sauces. Meat processing consists of all the tactics that exchange fresh meat except simple mechanical processes together with cutting, grinding, or mixing. Meat processing began as soon as humans found out that cooking and salting prolongs the existence of fresh meat. 

The global processed meat market is fragmented based on meat type, product type, storage type, distribution, and regions. In terms of meat types, the Processed Meat Sales Market is bifurcated into poultry, beef, mutton, pork, others. On the basis of product type, the Processed Meat Sales Market is segmented into Fresh-Processed Meat, Raw Fermented Meat, Raw-Cooked Meat, Pre-Cooked Meat, Cured Meat, Dried Meat, Others.

In terms of storage type, the processed meat sales market is bifurcated into chilled, frozen, canned. In terms of distribution, the processed meat sales market is bifurcated into Institutional Sales (HoReCa), Retail Sales, Supermarkets and Hypermarkets, Grocery Stores, Specialty Retailers, Online Stores. Based on regions the global Processed Meat market has been fragmented into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa.

The Processed Meat market is projected to witness a slight increase in Year-on-year growth for 2020 as compared to for previous year 2019. Regulatory Bodies Anticipated to Play a Key Role in Boosting the Market is supporting growth of the market in 2020. The Processed Meat market is growing at a significant pace due to growing chemical industry expected to fuel the market.

As per Growth Market Reports industry analyst Alok Sahu, “The global Processed Meat market is anticipated to witness moderate growth during forecast period 2020-2027. The Processed Meat market is registering growth opportunities across the globe, owing to the increasing inclination towards flavored meat products expected to act as a driving force for the market, growing demand for ready-to-eat products, and rising awareness for organic processed meat products.”

The first quarter of 2020 was an unforeseen turning point for the Processed Meat market. Supply chains were disturbed by COVID-19 outbreaks in major regions, thus reducing the demand for various products, due to uncertainty in the global economy. Certain discrepancies in production and supply chain created mild disruptions across some areas in the supply chain of the Processed Meat market.

However, after second quadrant due to increasing product demand for industries has boosted market growth in 2020. Increasing production process in biological industry and increasing concern for health safety in multiple organizations boosted the consumption of chemical & biological protective coveralls in 2020.

Key Takeaways from the Study

  • The players including BRF Global, Cargill Inc., Foster Farms, Hormel Foods Corporation, JBS SA, Perdue Farms, Pilgrim's, Sadia, and Sanderson Farms Inc. among others hold significant share of global Processed Meat market in year 2020.
  • North America is a key region of the market. It accounted for a market share of 35.85% in 2020. The regional market growth is owing to the presence of prominent market players in and across the region. Additionally, the factors such as the rising preference for the processed meat are expected to foster regional market growth and development.
  • In terms of storage type, the frozen segment held a considerable share of the market in 2020 and is projected to account for a substantial share of the market during the forecast period owing to growing the increasing preference for frozen meat products for food preparation within the food industry companies is the primary factor for the segment growth. Additionally, advantages such as longer shelf life, and less microbial contamination are the factors that are contributing towards the segment growth.

Report Scope

Report Metric

Details

Market Value in 2020

US$ 445.28 Million

Market Growth Rate (from 2020 to 2028)

9.13%

Historical Data

2018, & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (US$ Million)

Market Segments

By Meat type, by Product Types, By Storage Types, By Distribution, and By Regions

Regional Scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies Profiled

BRF Global, Cargill Inc., Foster Farms, Hormel Foods Corporation, JBS SA, Perdue Farms, Pilgrim's, Sadia, and Sanderson Farms Inc. among others.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Manufacturers, raw material suppliers, and distributors
  • Demand Side: Retail and food services
  • Regulatory Side: Concerned government authorities, and other regulatory bodies.