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North America Processed Meat Market Segmentation by Processing Type (Chilled, Frozen, Canned), Product Type (Poultry, Beef, Lamb, Pork), Distribution Channel (Supermarket/Hypermarket, Grocery Stores, Specialty Retailers, Online Channels and Others), By Country (US, Canada and Rest of North America) - Growth, Size, Share, Trends, and Forecasts (2022 to 2027)

Published: January, 2022
ID: 807
Pages: 144
Formats: report pdf report excel report power bi report ppt

North America Processed Meat Market Growth and Forecast (2022 - 2027):

North America Processed Meat Market is estimated to reach USD 96.2 billion by 2026, developing at a CAGR of 2.7% during the estimated time frame (2021- 2026).

Market Overview:

The expanding interest for high-esteem animal protein, and comfort food items, which the prepared meat retail firms have been offering to their clients drive North America's processed meat market. The development in emerging innovations has prompted the presentation of various items in the market, in this way, guaranteeing a higher shopper base. Moreover, the rising middle class and working ladies populace will likewise support the interest for processed meat items, as these things decrease the readiness, concocting and clean occasions.

In the division textual style, result, it has been seen that frozen meat holds a generous offer right now is relied upon to ascend because of expanded utilization of hotdogs and salami and more noteworthy period of usability; trailed by canned meat, which additionally holds a critical offer with its use in day by day dinners.

North America Processed Meat Market Trends:

Poultry Meat Dominates The North American Market

The chicken poultry meat portion has the most noteworthy offer in the processed poultry meat market and is relied upon to proceed with the equivalent over the estimated time frame, trailed by turkey meat and others. Chicken and turkey store meats are the commanding portions in the locales as they consider them as more beneficial alternatives over non-poultry meats. Moreover, the United States is the world's biggest exporter of poultry meat and a significant egg maker. Changing dietary examples and shoppers inclining toward less fatty meats/veggie lover alternatives has brought about an interest in poultry meat. Furthermore, a decrease in the utilization of meat has additionally determined the market for poultry. The market is additionally extended with an accent at the expense of meat. For example, meat recorded USD 5.36 per pound while oven chicken was just USD 2.03 per pound. This made an open door for the poultry business to extend development over the coming years.

Recent Developments in North America Processed Meat Industry:

  • In 2016, the administration of Canada and Manitoba every year put $ 5.9 million in the Winnipeg foundation of Maple Leaf Food to expand bacon creation by 8 million kilograms.
  • Tyson Foods Inc, a US producer of processed meat and worldwide enterprise, recouped 3,120 pounds of frozen bakery items because of the contamination of outside materials.
  • Hormel Foods Corporation as of late propelled another group of dry prepared filet steaks in the United States to additionally extend it's 'in every case delicate line of pork tenderloin, pork filet and meal pork.

Drivers:

An ascent in processed meat retailers is driving the development of the North American processed meat market as interest for costly animal proteins, arranged foods, assortment, costs and administrations gave to their client's increments. The advancements in the preparing innovation have permitted a broad scope of items in the market, which allows a more prominent shopper base. Frozen meat involves a significant part right now and is relied upon to increase because of the expanded utilization of hotdogs and salamis and a more drawn out period of usability. Moreover, canned meat has more appeal because of use in day by day suppers.

The North American processed meat market comprises various worldwide and provincial providers. Merchants seek advancement, cost and circulation. The expanded interest for natural domesticated animals is an open door for providers to build their piece of the overall industry. The brand, publicizing, and advancement of processed foods such as beef, meat, and so on., are a portion of the systems that are seen to rule the local market. What's more, the expanded interest for natural animals is an open door for providers to build their piece of the pie. o

Restraints:

The expansion in the cost of crude materials is a significant impediment in the North American market. Moreover, the consideration of associations, for example, WHO to expand the danger of disease from the utilization of processed meat is further hampering the development of the processed meat market right now.

North America Processed Meat Market Segmentation Analysis:

By Processing Type:

  • Chilled
  • Frozen
  • Canned

Of these, the Chilled section is foreseen to witness rapid development in the coming years due to its beneficial aspects like reduction in cooking hours and changing diet patterns of consumers around the area. Frozen section is also estimated to witness a notable growth rate in the same period.

By Product Type:

  • Poultry
  • Beef
  • Lamb
  • Pork

Among all the meat types, the poultry segment has the main portion and is deemed to show bountiful development in the years to follow. The processed pork is another crucial section of this market because of the growing consumer need for various products like bacon, ham, etc., in the area.

By Distribution Channel:

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

The supermarkets/hypermarkets section held the dominant share in the local market due to the presence of long retail chains like Walmart. The online sales are estimated to grow with a considerable CAGR in the coming years.

Regional Analysis:

Geographically the North America Processed Meat Market is segmented into US, Canada and Rest of North America. The United States processed meat market in North America is likewise the world's biggest exporter of poultry meat and a significant maker of eggs. Poultry meat is foreseen as dietary examples changed, and customers favoured less vegan choices. What's more, the poultry market has become because of diminished meat utilization. The market extended further as meat costs expanded. For instance, meat recorded USD 5.36 per pound, while the grilled chicken was USD 2.03 per pound. This allowed the poultry business the chance to extend development in the coming years.

Key Players in the Market:

Major Key Players in North America Processed Meat Market are

  • JBS
  • NH Foods Ltd
  • Smithfield Foods
  • Cargill Incorporated
  • ConAgra Foods Inc
  • National Beef Packing Company, LLC
  • Tyson Foods Inc
  • Cherkizovo Group PJSC
  • OSI Group

 

 

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