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I AgreeAnalysis of Processed Meat Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
From 2023 to 2033, worldwide processed meat consumption is forecasted to increase at a steady 4.5% CAGR. Presently, the global processed meat market accounts for a value of US$ 335 billion and is estimated to attain a revenue valuation of US$ 519.8 billion by 2033-end.
Eating habits and lifestyles have changed drastically in the past couple of decades and these changes have resulted in the high demand for processed foods across the world. Globalization and the growing popularity of different types of cuisines have resulted in higher consumption of different types of meat.
Changing consumer preferences, high availability of processed foods, hectic lifestyles, growing working women population, rising per capita disposable income, advancements in freezing technology, and increasing demand for fresh meat from the health-conscious population are key factors that are slated to promulgate processed meat demand through 2033.
Sausage making, dry aging beef, and meat curing are some of the popular processes used to obtain processed meats. Meat curing salt is anticipated to witness high demand in the future as sales of cured meats increase globally.
Increasing demand for halal and kosher meat products around the world is anticipated to create a highly opportunistic setting for established as well as incoming processed meat companies over the next ten years. Processed meat manufacturers are also focusing on launching new products such as ham cold cuts, dry-aged beef, salami cold cuts, deli meats, etc., with new flavours to increase their sales potential.
On the flip side, the growing popularity of veganism and rising consumption of plant-based foods are expected to hurt sales of processed meats throughout the forecast period. Moreover, the increasing availability of plant-based meats is also anticipated to impede market development in the future.
A detailed and comprehensive analysis of all the key prospects influencing market development on a regional and global level have been profiled in this revised processed meat market research survey by Fact.MR, a market research and competitive intelligence provider.
Report Attributes |
Details |
Processed Meat Market Size (2023) |
US$ 335 Billion |
Projected Market Value (2033F) |
US$ 519.8 Billion |
Global Market Growth Rate (2023-2033) |
4.5% CAGR |
Organic Segment Market Growth Rate (2023-2033) |
8% CAGR |
Germany Market Share (2022) |
~25% |
United States Market Growth Rate (2023-2033) |
4.1% CAGR |
Key Companies Profiled |
|
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“High Demand for Halal Meat Opening Up New Opportunities for Companies”
The Muslim population across the world has increased at a rapid pace and this has resulted in high demand for halal meat, which means meat that is obtained by slaughtering the animal as instructed in Islam. All the meat products sold in the Middle Eastern region and North African region are mostly halal owing to the presence of a high Muslim population.
Demand for halal-certified meats and foods has been rapidly increasing in Europe and Asia Pacific where the Muslim population is rising at a fast pace. Processed meat suppliers can take this opportunity and provide halal-certified meats to increase their business potential in the aforementioned regions as the demand for halal meat is expected to grow over the coming years.
“Lab-grown Meat Companies Redefining Meat Industry”
Ethical concerns about meat consumption have led to the inception of lab-grown meats and this is a trend that could completely change the processed meat industry landscape forever in the future. Aspiring processed meat companies are focusing on developing new technologies and techniques to create meat in the most efficient way possible.
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“Growing Preference for Pork & Bacon in Breakfast”
Bacon has become a breakfast staple in the United States in recent years and this trend is projected to be rife over the coming years as well. Changing dietary preferences of the people in the United States have resulted in high demand for processed pork meat especially for breakfast since they are high in protein and more filling than other breakfast alternatives.
Increasing availability of different types of processed meats, high consumer spending potential, and establishment of new restaurants and cafes serving different types of processed meats. Processed pork and processed beef are anticipated to witness a robust demand outlook in the U.S. going forward. Over the next ten years, processed meat shipments are slated to rise at 4.1% CAGR in the United States.
“Increasing Westernization of Japanese Diet to Provide New Growth Opportunities”
The traditional Japanese diet consists mostly of seafood as a source of protein but this trend is now changing as the younger population of the country is veering toward other meats such as pork, beef, and lamb. The country is the second-largest importer of meat in the Asian region following China as the largest. Dietary preferences of the average Japanese have been changing owing to the increasing influence of the Western culture and this is expected to open up new opportunities for local as well as international processed meat suppliers going forward.
Processed beef and pork are relatively cheaper than seafood and this price gap is also a decisive factor that is projected to boost demand for processed meats in Japan through 2033. Pork meat, poultry meat, bovine meat, and other meat preparations accounted for more than 85% of meat imports in 2019 and a similar trend is expected to be observed across the forecast period.
“Germany Accounts for Substantial Processed Meat Demand”
A high migrant population and increasing consumption of convenience foods are prime factors that are expected to boost processed meat demand in Germany over the coming years. The increasing preference of the millennial population for snacking and immediate consumption is also a major factor that is projected to drive market development in the country.
In 2022, Germany accounted for a little over 25% market share in the European region. Chicken nuggets are expected to be a popular processed meat snack in Germany and drive demand for processed poultry meat through 2033. Demand for organic processed meats is expected to flourish in Russia throughout the forecast period.
Sausage making and salami making are anticipated to be highly popular processes being used to manufacture processed meats in European countries such as Italy and the United Kingdom.
“Rising Awareness of Benefits Associated with Organic Processed Meat Consumption”
Based on nature, the market for processed meat is segmented into organic and conventional.
Demand for organic food products has witnessed a notable upsurge in the past few years as awareness regarding their benefits is increasing and this trend is true for organic processed meat as well. More people are now aware of the benefits that come with consuming organic meat products and how they can be beneficial in avoiding major health risks. Demand for organic processed meats is forecasted to increase at a high CAGR of around 8% from 2023 to 2033.
Processed meat suppliers are focusing on diversifying their product portfolio by launching new aged meat cuts, dry-aged beef, sausages, and cured meats.
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The global processed meat market stands at a US$ 335 billion valuation.
Shipments of processed meat are estimated to reach US$ 519.8 billion by 2033-end.
Processed meat demand is forecasted to rise at 4.5% CAGR through 2033.
Product type, form, nature, application, sales channel, and region are the key segments detailed in this report.
JBA SA, SYSCO Corp., OSI Group, Hormel Food, and WH Group are prime suppliers of processed meat.