As per our analysis report, the global processed meat market is expected to reach USD 10.78 billion by 2029 from USD 7.76 billion in 2024, growing at a compound annual growth rate (CAGR) of 6.8% during the forecast timeline.
The expanding mindfulness about the dangers related to the utilization of nitrate for relieving reasons in processed meat has empowered makers to supplant nitrate with other restoring operators, similar to celery powder, to accomplish the same impact. Such factors are enlisting a noteworthy interest in nitrite-free processed meat items, for example, bacon items in the European nations, which incorporates the United Kingdom, France, Spain, Germany, Russia, Switzerland, Italy, France, and others, giving the extraordinary stage to the players to satisfy the developing need by propelling faultless bacon (without nitrite) through different retail channels.
Expanding Per Capita Consumption of Red Meat. Pork is one of the most customarily devoured red meat that is frequently expended naturally. In any case, preserved pork items are additionally generally swallowed. These incorporate smoked pork, ham, bacon, and frankfurters. Also, it is the third most profoundly meat in the United States. In 2018, the per capita utilization of pork in the United States was 23.049 kg/capita. In any case, China held the primary situation, with 30.438 kg/capita around the same time.
Notwithstanding, emerging nations, especially China and other East Asian countries, are still on the ascent as far as meat utilization rates. In contrast, high-pay societies, for example, the United States, Australia, and the United Kingdom, devour large amounts of meat. Such factors offer an anticipated increment in worldwide meat utilization, remembering a multiplying for the usage of poultry, a 69% expansion in hamburger, and a 42% increment in pork. The developing per capita utilization of processed meat items, such as red meat, across different nations is driving the interest of the market fundamentally.
Global Processed Meat Market Drivers:
The developing salary of the urbanized populace has fuelled the interest in the worldwide market for processed meat items. Furthermore, the bustling urban life has brought about customers deciding on helpful food that doesn't use more opportunity for cooking or planning. The rising inclination to expand prepared-to-eat meat is additionally considered the critical factor driving the development of the global processed meat market. Be that as it may, a few variables are controlling the growth of the prepared meat business.
The utilization of processed food items triggers the upsurge of cholesterol and fat levels in the body, constraining the shopper from carrying on with an unfortunate way of life. Rising stoutness levels are creating more mindfulness about the downsides of processed food utilization, hampering the interest in newly processed meat items in this manner.
The mounting increase in the number of meat-eating buyers has frightened the makers of processed meat items. So as to satisfy the overflowing need, the procedure for holding the freshness of the meat is hampered, which significantly influences the looming request.
Processed meat items are made by safeguarding through preserving, smoking, canning, drying, or salting the raw meat. Thus, processed meat holds a high percentage of fat and moderate degrees of protein. Consequently, the interest in processed meat items isn't conspicuous among an enormous portion of customers who select high-protein and fatless meat items.
The well-being cognizance among purchasers is controlling the development of processed meat items, inferable from the high consciousness of its detriments to well-being. The high rate pace of cancer and cardiovascular issues among shoppers of processed meat items is bringing down interest and keeping the makers hesitant about business development.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
6.8% |
Segments Covered |
By Processing Type, Product Type, Distribution Channel, And Region |
Various Analyses Covered |
Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
JBS, NH Foods Ltd, Smithfield Foods, Inc, Cargill Incorporated, ConAgra Foods Inc, National Beef Packing Company, LLC, Tyson Foods Inc, Cherkizovo Group PJSC, OSI Group |
This research report on the global processed meat market has been segmented and sub-segmented based on processing type, product type, distribution channel, and region.
Global Processed Meat Market – By Processing Type:
Global Processed Meat Market – By Product Type:
Global Processed Meat Market – By Distribution Channel:
In view of product type, prepared poultry was the main fragment and is relied upon to show generous development in the years to come. Prepared pork was another critical section of this market because of the expanding interest in various processed pork items, for example, frankfurters, bacon, burgers, and trotters.
Chilled processing is relied upon to show exponential development in the global processed meat market over the estimated time frame. This is basically because of its capacity to diminish cooking time and fulfill the need for snappy suppers. Frozen processed meat is additionally expected to show noteworthy development in the years to come.
Supermarkets/Hypermarkets are the prominent shareholders in the global business, which are foreseen to be overtaken by online sales in the coming years.
Global Processed Meat Market – By Region:
North America Holds Significant Market Share. Shoppers in North America, particularly in the United States and Canada, have begun deciding on meat-based breakfast choices, including bacon, over other breakfast alternatives, for example, flapjacks, because of the changing palates and readiness to attempt new items. An exceptional level of the populace in the United States expends bacon during breakfast time, making ready for more food service outlets to present bacon-based morning meals. As the meat segment is an extraordinary wellspring of pride and flourishing to numerous Canadians, the legislature is taking activities to support the makers and processors of red meat, mostly bacon, to turn out to be progressively severe and inventive in local and world markets. For example, in 2016, the Governments of Canada and Manitoba put USD 5.9 million into Maple Leaf Food's Winnipeg-based office to extend the bacon creation by 8,000,000 kilograms consistently. The key venture is the acquisition of new processing and bundling equipment for bacon creation.
The Asia Pacific region produced popularity for processed meat, which represented the most significant piece of the pie of general utilization in the review period. The Asia Pacific processed meat market is mainly driven by China. Wellbeing concerns related to the use of processed meat have declined the adoption rate in Europe. Russia is relied upon to observe the quickest development rate in Europe in the foreseen years.
KEY MARKET PLAYERS:
Major Key Players in the Global Processed Meat Market are JBS, NH Foods Ltd, Smithfield Foods, Inc, Cargill Incorporated, ConAgra Foods Inc, National Beef Packing Company, LLC, Tyson Foods Inc, Cherkizovo Group PJSC, OSI Group
RECENT HAPPENINGS IN THE MARKET:
FAQ's
Factors driving growth include increasing urbanization, changing dietary habits, convenience of processed meat products, rising demand for protein-rich foods, and expanding fast-food chains.
Due to their potential health risks, the industry faces regulatory scrutiny regarding food safety standards, labeling requirements, and restrictions on certain additives like nitrites and phosphates.
Technology advancements in food processing, packaging, and preservation methods enable manufacturers to improve efficiency, extend shelf life, and meet consumer demand for convenience and safety.
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