The Latin America Processed Meat Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 8.8% during the forecast period, 2023 – 2031. The growth of the market is attributed to rising demand for packaged, ready-to-eat, and convenience foods also growth in food service and retail industry.
Meat production and consumption continue to rise worldwide. Pork is the most popular form of meat followed by chicken and beef/buffalo. In Latin American various factors such as a fast-paced routine, growing urbanization, adoption of new lifestyle trends, and changing eating habits are expected to propel the industry forward.
The processed meat market in the United States has been divided into Brazil, Argentina, and other countries. According to the Latin American Poultry Association (ALA), Brazil is the leading consumer and supplier of meat, in Latin America region and it continue to grow. Currently consumers are getting more aware about balance diet and healthy nutrition food product also there is a rising interest for trans- fat free food due to large population facing cardiovascular disease (CVD).
Increasing application of high-pressure processing (HPP) technology results in high-quality, long-lasting raw or cooked food, allowing export to other nations. Brazilian BRF and Chilean Productos Fernández are two firms that have employed hyperbaric HPP technology to focus on innovation, safety, and quality.
The Covid-19 pandemic affected the demand and supply of Latin America processed meat market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
-
Rising demand for healthy and high-quality protein food are projected to boost the market during the forecast period.
-
Rapid growth of the meat industry is major factor driving the market in the coming years.
-
Growing demand for fat and cholesterol free food is the major factor fueling the market.
-
Stringent guideline and regulation by food & drug administration (FDA) are projected to hamper the market growth.
-
Increasing demand for natural and additive free products is expected to create significant opportunities for the market players.
Scope of Latin America Processed Meat Market Report
The report on Latin America 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
|
Latin America Processed Meat Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016–2021
|
|
Forecast Period
|
2016–2031
|
|
Segmentation
|
Product Types (Frozen, Chilled, and Canned/Preserved) Meat Types (Beef, Poultry, Mutton, Pork, and Others), Distribution Channels (Convenience Stores, Hypermarkets/Supermarkets, Online Retailing, and Others)
|
|
Region Scope
|
Latin America
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
JBS S.A.; Foster Farms; Conagra Brands Inc.; BRF S.A.
|
Latin America Market Segment Insights
The chilled segment is projected to represent a major market share
Based on product types, the Latin America processed meat market is fragmented into frozen, chilled, and canned/preserved. The chilled segment is expected to constitute a key share of the market during the forecast period due to less cooking time and optimum temperature requirement for storage of chilled meat.
The poultry segment is expected to expand at a rapid pace
On the basis of meat types, the Latin America processed meat market is segmented into beef, poultry, mutton, pork, and others. The poultry segment is expected to account for a key share of the market in the coming years owing rising demand for protein rich products. However, the pork segment is anticipated to expand at a rapid pace during the forecast period due to rising demands for pork-based products such hams, bacon and others.
The hypermarkets/supermarkets segment is anticipated to expand at a rapid CAGR
In terms of distribution channels, the Latin America processed meat market is divided into convenience stores, hypermarkets/supermarkets, online retailing, and others. The hypermarkets/supermarkets segment is expected to hold a key share of the market during the forecast period owning to variety of product offering availability at promotional rate. However, the online retailing segment is anticipated to expand at a rapid pace due to growing online buyers in the region.
Segments
The Latin America processed meat market has been segmented on the basis of
Product Types
- Frozen
- Chilled
- Canned/Preserved
Meat Types
- Beef
- Poultry
- Mutton
- Pork
- Others
Distribution Channels
- Convenience Stores
- Hypermarkets/Supermarkets
- Online Retailing
- Others
Region
Key Players
Competitive Landscape
Key players competing in the Latin America processed meat market include JBS S.A.; Foster Farms; Conagra Brands Inc.; BRF S.A.
Some of these players are focusing on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
Request For Customization
Enquiry Before Buying
Speak With Analyst
