Processed Meat Market

Processed Meat Market by Processing Category (Canned, Chilled and Frozen) Products (Beef, Lamb and Poultry) Distribution Channels (Grocery Stores, Online Channels, Specialty Retailers, Supermarkets/Hypermarkets and Others) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: FB-625
  • Author: Growth Market Reports
  • Rating: 4.8
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  • No. Of Pages: 194
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The global processed meat market size was valued at USD 6.5 billion in 2020 and is estimated to register a substantial CAGR of 6.3% during the forecast period, 2021–2028. The growth of the market is attributed to increasing demand for ready-to-eat and packaged foods such as processed meat, significant adoption of new lifestyle trends, expeditious urbanization and hectic lifestyle.
 

Processed Meat Market Key Takeaways


Processed meat is generally supplemented with added preservatives such as acidifiers, salts, minerals and other flavoring and seasoning agents. Meat is primarily processed to preserve it from decay, improve its quality and to add flavors to its actual structure which includes white and red meat.

The Covid-19 pandemic had an unpleasant impact on the processed meat market. The production has been on halt and both the demand and supply ware affected. The market suffered moderate loss; however, government’s steps and strategies have helped to neutralise the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.

Market Trends, Drivers, Restraints, and Opportunities

  • Accessibility of processed meat at reasonable price is a major factor expanding the market growth.
  • Rise in disposable income and increase in number of women workforce across the globe are projected to spur the market growth over the forecast period.
  • Increase in development and use of innovating meat processing technologies is creating opportunities in the market.
  • Rising innovation, developments and technological advancements in meat processing are projected to fuel the market growth in coming years
  • Initiation of label-friendly and less costly processed meat products by market players on e-commerce platforms are generating lucrative opportunities in the market expansion.
  • Rules and regulations implemented by government bodies on the processes used for treating meat, manufacturing of the products, and increasing health concerns caused by the consumption of red meat are projected to impede the market expansion.
  • Rising acquisition of vegan food and demand for vegetarian diets are hindering the market growth.
  • R&D investment and technological advancement in processed meat are expected to offer lucrative opportunities for the market players.

Scope of the Report

The report on the global processed meat market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Processed Meat Market-Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Processing Category (Canned, Chilled and Frozen) Products (Beef, Lamb and Poultry) Distribution Channels (Grocery Stores, Online Channels, Specialty Retailers, Supermarkets/Hypermarkets and Others)

Regional Scope

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

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

BRF, Cargill, JBS, Hormel Foods, NH Foods, Smithfield Foods, Tyson Foods, AdvancePierre Foods, ConAgra Foods, FLANDERS PROVISION, Keystone Foods and National Beef Packing

 

Market Segment insights

The frozen segment is projected to constitute a large market share
Based on category, the global processed meat market is segregated into canned, chilled and frozen. The frozen segment is expected to account for a key share of the market during the forecast period owing to its applications such as effortlessly storing of foods and conventional for preserving a longer period of time with no loss of quality. On the other hand, canned segment is projected to expand over the forecast period owing to rising innovative technique of meat processing around the globe.

Poultry segment is expected to register a substantial CAGR
Based on products, the global processed meat market is divided into beef, lamb and poultry. The poultry segment accounts for a key share of the market and is estimated to propel over the forecast period owing to significant rise in demand for white meat over red meat. Furthermore, white meat is cheaper compared to red meat. According to the International Agency of Cancer Research for Cancer (IARC), consumption of red meat is expected to cause cancer in humans; therefore, awareness and rising health concerns regarding red meat is driving the demand for white meat.
 

Processed Meat Market By Products


The supermarket segment is expected to expand at a robust pace
Based on distribution channels, the global processed meat market is bifurcated into Grocery Stores, Online Channels, Specialty Retailers, Supermarkets/Hypermarkets and Others. The supermarket segment accounts for a key share of the market and is estimated to propel over the forecast period owing to availability of wide range of options at the same place, discount options, effective advertisement and presence of key players.
                        
Asia Pacific is expected to dominate the market
In terms of regions, the market is broadly classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to expand at a robust CAGR during the forecast period. The socioeconomic evolution and organized retailers are anticipated to drive the market growth; however, the market of North America is expected to exhibit a rapid growth rate in the coming years owing to its innovative and advance techniques and technologies.
 

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Processed Meat Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Processed Meat Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Processed Meat Market - Supply Chain
  4.5. Global Processed Meat Market Forecast
     4.5.1. Processed Meat Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Processed Meat Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Processed Meat Market Absolute $ Opportunity
5. Global Processed Meat Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Processed Meat Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Processed Meat Demand Share Forecast, 2019-2026
6. North America Processed Meat Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Processed Meat Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Processed Meat Demand Share Forecast, 2019-2026
7. Latin America Processed Meat Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Processed Meat Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Processed Meat Demand Share Forecast, 2019-2026
8. Europe Processed Meat Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Processed Meat Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Processed Meat Demand Share Forecast, 2019-2026
9. Asia Pacific Processed Meat Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Processed Meat Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Processed Meat Demand Share Forecast, 2019-2026
10. Middle East & Africa Processed Meat Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Processed Meat Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Processed Meat Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Processed Meat Market: Market Share Analysis
  11.2. Processed Meat Distributors and Customers
  11.3. Processed Meat Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. BRF
     11.4.2. Cargill
     11.4.3. JBS
     11.4.4. Hormel Foods
     11.4.5. NH Foods

Segments Covered in the Report
The global processed meat market has been segmented on the basis of:-

Processing Category

  • Canned
  • Chilled
  • Frozen

Products

  • Beef
  • Lamb
  • Poultry

Distribution Channels

  • Grocery Stores
  • Online Channels
  • Specialty Retailers
  • Supermarkets/Hypermarkets
  • Others

Regions

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

Key Companies

  • BRF
  • Cargill
  • JBS
  • Hormel Foods
  • NH Foods
  • Smithfield Foods
  • Tyson Foods
  • AdvancePierre Foods
  • ConAgra Foods
  • FLANDERS PROVISION
  • Keystone Foods
  • National Beef Packing

Key players competing in the global processed meat market include BRF, Cargill, JBS, Hormel Foods, NH Foods, Smithfield Foods, Tyson Foods, AdvancePierre Foods, ConAgra Foods, FLANDERS PROVISION, Keystone Foods and National Beef Packing.

Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase/enhance their market shares. For instance, In August 2018, Tyson Food Inc. acquired six processing plants of Keystone Foods for the USD 2.16 billion to expand its market share.
 

Processed Meat Market By Key Players

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