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Processed Meat Market is Anticipated to Grow at 6.50% CAGR by 2032 with Share of Competitor| Foster Farms, JBS S.A.

May 21, 2024 10:00 AM ET

Processed Meat Market is Anticipated to Grow at 6.50% CAGR by 2032 with Share of Competitor| Foster Farms, JBS S.A.

Processed Meat Market Overview

Processed Meat Market Size Anticipated to Reach at a USD 908.07 Billion by 2032 with CAGR of 6.50% by 2023 – 2032.

The processed meat market is expanding rapidly due to consumer demand for quick and simple meal solutions and their hectic lifestyles. Meat products that have undergone modifications, such as curing, smoking, or adding preservatives to improve flavor and shelf life, are referred to as processed meats. These goods come in a range of forms, including sausages, bacon, ham, and deli meats, and are extensively consumed globally.

Factors such as changing consumer lifestyles, busy schedules, and the need for quick meal solutions are driving the growth of the processed meat market. Processed meats offer consumers a convenient and versatile option for incorporating meat into their diets, whether at home or on the go.

However, the market also faces challenges related to health concerns associated with processed meats, such as their high salt and fat content. As a result, there is a growing trend toward healthier processed meat options, such as low-fat and low-sodium varieties, as well as plant-based alternatives.

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Key Players

Hormel Foods Corporation (United States)

Conagra Brands Inc. (United States)

Foster Farms (United States)

JBS S.A. (Brazil)

Tyson Foods Inc. (United States)

Smithfield Foods, Inc. (United States)

Cargill Incorporated (United States)

Pilgrim’s Pride Corporation (United States)

The Kraft Heinz Company (United States)

China Xiangtai Food Co., Ltd. (China)

Market Segmentation

  1. Meat Type: Poultry, beef, hog, and other meats are the many meat categories that make up the market. Because of its leaner profile, poultry processed meat products like turkey deli meats and chicken sausages are popular alternatives among customers. Because of their rich flavor and texture, processed beef and pork products like bacon and ham are also frequently consumed.
  2. Product Type: The market is divided into canned, frozen, and chilled products. Products made from frozen processed meat are popular among customers looking for quick dinner options since they are convenient for long-term storage. Because of their freshness, chilled processed meat products are recommended and are frequently seen at deli counters. Because they keep well on shelves, canned processed beef products are frequently utilized for outdoor activities or emergency food kits.
  3. Application: The market is split by application into commercial and residential. Foodservice providers, such as restaurants and catering businesses, who employ processed meats as ingredients in their dishes, are examples of commercial usage. Customers that buy processed meats to eat at home are considered residential users.
  4. Distribution Channel: The market is divided into independent merchants, supermarkets, convenience shops, HoReCa (hotels, restaurants, and cafés), and others based on the distribution channel. Supermarkets and convenience stores serve retail customers, whereas HoReCa channels serve the foodservice sector. Specialty stores and niche markets are served by independent retailers and other outlets.

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Regional Analysis

  1. North America: Due to the region’s high meat product consumption, North America is a significant market for processed meats. The biggest market in the area is the United States, where consumers regularly include processed meats in their diets.
  2. Europe: With major customers including Germany, France, and the United Kingdom, Europe represents another sizable market for processed meats. The demand for processed meat products is driven by the region’s diversified food culture and rich culinary traditions.
  3. Asia-Pacific: Driven by the region’s expanding population and rising disposable income, the processed meat market in this area is expanding quickly. Processed meats are widely consumed in China, Japan, and India, where they are incorporated into both conventional and contemporary cuisines.
  4. Latin America: With nations like Brazil, Mexico, and Argentina being important producers and consumers of processed meats, Latin America is also a prominent player in the global processed meat business. The demand for processed beef products is driven by the region’s expanding urbanization and rich culinary heritage.

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