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Processed Meat Market Report

RA04151

Processed Meat Market by Meat Type (Poultry, Beef, Pork, and Others), Product (Frozen, Chilled, and Canned), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Independent Retailers, and Online/Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

RA04151

Pages: 180

Dec 2021

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Processed Meat Market

Global Processed Meat Market Analysis

The global processed meat market size is predicted to garner $4,79,472.50 million in the 20212028 timeframe, growing from $2,77,000.00 million in 2020, at a healthy CAGR of 7.20%.  

Market Synopsis

Strategic alliances among market players, along with growing demands for processed meat across the globe, are expected to accelerate the growth of the processed meat market.

However, high cost of processed meat and it not being suggested as a healthy food are some of the growth-restricting factors for the market.

According to the regional analysis, the Asia-Pacific processed meat market size is anticipated to grow during the review period and generate revenue of $98,771.30 million, with CAGR of 7.90% due to increasing adoption of ready to eat foods in the region.  

Processed Meat Overview

Processed meat is preserved by curing it with the help of fermenting, salting, smoking, and by adding certain chemicals to extend the shelf-life or to improve their taste. Some of the meats that are commonly preserved are pork, chicken, lamb, and beef. Processed meats are mostly used in ready to eat foods and junk foods such as hot dogs, sausages, burgers, and others.

Covid-19 Impact on Processed Meat Market Shares

The novel coronavirus pandemic had a devastating effect on several industries. The global processed meat market experienced a notable decline in growth during this period. Processed meat market growth was affected due to closing down of hotels, restaurants, and cafes throughout the pandemic. Also, quick servable restaurants and cafes such as KFC, subway, McDonalds. and Burger King were all closed during the COVID-19 period, which are some of the factors that decreased the market for processed meat.

Furthermore, top companies that are in processed meat such as Tyson Foods Inc., Smithfield Farms, JBS USA, and Cargill Inc. had closed or limited their facilities for meat processing facilities. All such factors are expected to negatively affect the processed meat industry. Moreover, ongoing travel restrictions and closing down of hotels might affect the global market. The above-stated factors show that the pandemic may have affected the market but resuming of all dining facilities post-pandemic might ultimately increase the sustainable opportunities for processed meat market in the coming years.

Increasing Prevalence of Ready-to-eat Meat Products to Surge the Market Growth

The global processed meat industry is witnessing a massive growth mainly due to increasing demand for ready-to-eat meat products owing to hectic lifestyles and busy schedules, along with increasing working professionals. Moreover, rising urbanization and per capita income of may fuel the growth of the global processed meat market.

Furthermore, according to an article published by NCBI (National Center for Biotechnology Information), in November 2019, in Switzerland, processed meat has a very unique role in diet as it is closely linked to their culture and tradition and is often the main course at various festive gathering. These types of factors are predicted to drive the growth of the market.

To know more about global processed meat market trends, drivers, get in touch with our analysts here.

Disadvantages Associated with Processed Meat to Restrain the Market Growth

Processed meat is considered as unhealthy food as it can increase the risk of heart issues and cancer. Processed meat contains a lot of harsh chemicals which can affect the health of the person if consumed on daily basis. These are some of the factors anticipated to hinder the market value of the processed meat in the next few years.

Rising Demand for Animal Proteins among the Young Population to Create Massive Investment Opportunities

The global processed meat market is spreading at a very fast pace due to increasing demand for animal-based proteins among the fitness freak people across the globe. Moreover, animal proteins such as milk, eggs, and meat are considered as the complete proteins as they provide all the essential nutrients and amino acids that the body needs. Moreover, growing trends of nutrient-rich packaged meat products are some of the factors that are positively affecting the processed meat market growth.

Furthermore, processed meat industry already has leading market players innovating strategies to attract customers. For example, in 2021, Tyson Foods Inc., American food company, announced that they have launched their new product named “Tyson Air Fried Chicken Bites”, it is chicken bites that have 35% less calories and 75% less fat, and is available in frozen form. All such aspects may further lead to lucrative market opportunities for key players in the upcoming years.

To know more about global processed meat market trends, opportunities, get in touch with our analysts here.

Processed Meat Market
By Meat Type

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Based on meat type, the market has been divided into Poultry, beef, pork, and others sub-segments of which the Poultry sub-segment is projected to generate the maximum revenue as well as show the fastest growth. Download PDF Sample Report

Source: Research Dive Analysis

The poultry type sub-segment is predicted to have a dominating as well as fastest market growth in the global market. The sub-segment is expected to register a revenue of $1,95,272.50 million during the forecast period. Poultry is one the most consumed meats across the globe owing to its low cost and high nutritional content. Moreover, poultry meat is enriched with important nutrition such as iodine and selenium including omega-3 fats which lack in normal diets. Furthermore, companies are adopting various strategies to attract customers. For instance, Tyson Foods Inc., largest food company in the US, announced in 2020, that they are acquiring Tecumseh Poultry LLC, one the best brands of chicken. These factors and strategic alliances may bolster the growth of the sub-segment during the forecast period and processed meat market demand.

Processed Meat Market
By Product

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On the basis of product, the market has been sub-segmented into Frozen, chilled, and canned sub-segments. Among the mentioned sub-segments, the Frozen sub-segment is predicted to show the fastest as well as dominant market share.

Source: Research Dive Analysis

The frozen sub-segment of the global processed meat market growth is projected to be the dominant as well as have the fastest growth. It is also projected to surpass $2,90,669.30 million by 2028, with an increase from $1,64,607.00 million in 2020. This growth in the market can be attributed to growing demand for ready to eat foods that are available in frozen form. Also, meat in frozen form is safe to consume as the low temperature restricts the growth of harmful bacteria and microbes. All such elements may increase the demand for sub-segment and processed meat market demand.

Processed Meat Market
By Distribution Channel

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On the basis of distribution channel, the market has been sub-segmented into supermarkets/hypermarkets, convenience stores, independent retailers, and online/others sub-segments. Among the mentioned sub-segments, the supermarkets/hypermarkets sub-segment is predicted to show the dominant market share and convenience stores expected to experience fastest growth.

Source: Research Dive Analysis

The supermarkets/hypermarkets sub-segment is predicted to have a leading market share in processed meat globally and register a revenue of $2,95,508.80 million during the analysis timeframe owing to availability of diverse range of processed meat and their products in the supermarket, freedom of selection, and other facilities. Furthermore, at supermarkets buyers can get quality goods at affordable and lower prices. Such factors may create huge opportunities for the sub-segment throughout the forecast period.

The convenience stores sub-segment of the global processed meat market is projected to have the fastest growth. It is also projected to surpass $1,00,051.10 million by 2028, with an increase from $56,211.90 million in 2020. Convenience stores are also known as convenience shop or small corner store. They are small business retailers who offer wide range of products including processed meat. Moreover, people are buying processed meat in convenience stores because products are easily available near their locations in case of emergency. All such elements may increase the demand for sub-segment and processed meat market demand.

Processed Meat Market
By Region

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The processed meat market share was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Source: Research Dive Analysis

The Market for Processed Meat in North America to be the Most Dominant

The North America processed meat market accounted $1,06,645.00 million in 2020 and is projected to register a revenue of $1,85,076.40 million by 2028. The extensive growth of the North America processed meat market is mainly driven by factors such as changing appetites and eating habits along with trend of trying out new products mostly in Canada and the US. Also, in North American countries, people are preferring meat-based breakfast items with existence of top leading companies augmenting the industry growth in the region. Moreover, growing demands for processed meat across the US is one of the factors that is fueling the market growth across the globe. These factors will ultimately drive the demand in the processed meat market across the region.  

The Market for Processed Meat in Asia-Pacific to be the Fastest Growing

The share of Asia-Pacific processed meat market is expected to rise at a CAGR of 7.90%, by registering a revenue of $98,771.30 million by 2028. The growth shall be a result of rising demand for ready to eat and frozen meats such as fresh and pork meat, and growing trends of snacking. Such aspects may bolster the demand for processed meat market, in the upcoming years.

Competitive Scenario in the Global Processed Meat Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Competitive Scenario in the Global Processed Meat Market

Source: Research Dive Analysis

Some of the leading processed meat market players are JBS S.A., Smithfield Foods, Inc., Perdue Farms, Inc., Tyson Foods, Inc., American Foods Group, LLC., Cargill, Incorporated, Hormel Foods Corporation, Koch Foods, LLC., OSI Group, and Swiss Meat & Sausages Co.

Porter’s Five Forces Analysis for the Global Processed Meat Market:

  • Bargaining Power of Suppliers: The product suppliers of processed meat market are high in number and are larger and more globalized. So, there will be less threat from the suppliers.
    Thus, the bargaining power of suppliers is low. 
  • Bargaining Power of Buyers: Buyers demand different types of processed meat products that are of different flavors and form. This has increased the pressure on the processed meat providers to offer the best processed meats. This gives the buyers the option to freely choose processed meat products that best fits their preference.
    Thus, the bargaining power of the buyers is high. 
  • Threat of New Entrants: Companies entering the processed meat market are adopting various innovations such as developing processed meat that are available in different packaging and taste.
    Thus, the threat of the new entrants is moderate.
  • Threat of Substitutes: There are various substitute available for processed meat such as different types of animal-based proteins, but their shelf lives are not that long as compared to processed meat.
    Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including JBS SA and Tyson. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
    Therefore, competitive rivalry in the market is high.

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2021-2028

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Meat Type

  • Poultry
  • Beef
  • Pork
  • Others

  Segmentation by Product

  • Frozen
  • Chilled
  • Canned

  Segmentation by Distribution Channel

  • Supermarket/Hypermarket
  • Convenience Stores (Discount Store)
  • Independent Retailers (Traditional Store)
  • Online/Others

  Key Companies Profiled

  • JBS S.A.
  • Smithfield Foods, Inc.
  • Perdue Farms, Inc.
  • Tyson Foods, Inc.
  • American Foods Group, LLC.
  • Cargill, Incorporated
  • Hormel Foods Corporation
  • Koch Foods, LLC.
  • OSI Group and
  • Swiss Meat & Sausages Co.

    Frequently Asked Questions
     

    A. The size of the global processed meat market was over $2,77,000.00 million in 2020 and is projected to reach $4,79,472.50 million by 2028.

    A. JBS SA and Tyson are some of the key players in the global processed meat market.

    A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

    A. Asia-Pacific processed meat market is anticipated to grow at 7.90% CAGR during the forecast period.

    A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.

    A. People buy processed meat because it is the preserved form of meat and therefore it has high shelf life and can be stored in the refrigerators to use anytime.

    A. Meat processing includes preservation of meat by smoking, fermenting, freezing, chilling, or by treating certain chemicals.

    A. Some processed meats we should avoid are hot dogs, sausages, canned, and bacon type of meats.

    A. Any kind of meat can be processed including chicken and its breast.

    A. Pork meat can be processed with various methods of meat processing.

    1.Research Methodology

    1.1.Desk Research
    1.2.Real time insights and validation
    1.3.Forecast model
    1.4.Assumptions and forecast parameters

    1.4.1.Assumptions
    1.4.2.Forecast parameters

    1.5.Data sources

    1.5.1.Primary
    1.5.2.Secondary

    2.Executive Summary

    2.1.360° summary
    2.2.By meat trends
    2.3.By Product trends
    2.4.By Distribution Channel trends 

    3.Market overview

    3.1.Market segmentation & definitions
    3.2.Key takeaways

    3.2.1.Top investment pockets
    3.2.2.Top winning strategies

    3.3.Porter’s five forces analysis

    3.3.1.Bargaining power of consumers
    3.3.2.Bargaining power of suppliers
    3.3.3.Threat of new entrants
    3.3.4.Threat of substitutes
    3.3.5.Competitive rivalry in the market

    3.4.Market dynamics

    3.4.1.Drivers
    3.4.2.Restraints
    3.4.3.Opportunities

    3.5.Technology landscape
    3.6.Regulatory landscape
    3.7.Patent landscape
    3.8.Market value chain analysis

    3.8.1.Stress point analysis
    3.8.2.Raw material analysis
    3.8.3.Manufacturing process
    3.8.4.Sales Channel analysis
    3.8.5.Operating vendors

    3.8.5.1.Raw material suppliers
    3.8.5.2.meat manufacturers
    3.8.5.3.meat distributors

    3.9.Strategic overview

    4.Processed Meat Market, by Meat

    4.1.Overview

    4.1.1.Market size and forecast, by meat

    4.2.Poultry

    4.2.1.Key market trends, growth factors, and opportunities
    4.2.2.Market size and forecast, by region, 2020-2028
    4.2.3.Market share analysis, by country 2020 & 2028

    4.3.Beef

    4.3.1.Key market trends, growth factors, and opportunities
    4.3.2.Market size and forecast, by region, 2020-2028
    4.3.3.Market share analysis, by country 2020 & 2028

    4.4.Pork

    4.4.1.Key market trends, growth factors, and opportunities
    4.4.2.Market size and forecast, by region, 2020-2028
    4.4.3.Market share analysis, by country 2020 & 2028

    4.5.Others

    4.5.1.Key market trends, growth factors, and opportunities
    4.5.2.Market size and forecast, by region, 2020-2028
    4.5.3.Market share analysis, by country 2020 & 2028

    5.Processed Meat Market, by Product

    5.1.Overview

    5.1.1.Market size and forecast, by Sales Channel

    5.2.Frozen

    5.2.1.Key market trends, growth factors, and opportunities
    5.2.2.Market size and forecast, by region, 2020-2028
    5.2.3.Market share analysis, by country 2020 & 2028

    5.3.Chilled 

    5.3.1.Key market trends, growth factors, and opportunities
    5.3.2.Market size and forecast, by region, 2020-2028
    5.3.3.Market share analysis, by country 2020 & 2028

    5.4.Canned   

    5.4.1.Key market trends, growth factors, and opportunities
    5.4.2.Market size and forecast, by region, 2020-2028
    5.4.3.Market share analysis, by country 2020 & 2028

    6.Processed Meat Market, by Distribution channel

    6.1.Overview

    6.1.1.Market size and forecast, by Sales Channel

    6.2.Supermarket/Hypermarket

    6.2.1.Key market trends, growth factors, and opportunities
    6.2.2.Market size and forecast, by region, 2020-2028
    6.2.3.Market share analysis, by country 2020 & 2028

    6.3.Convenience Stores (Discount Store)

    6.3.1.Key market trends, growth factors, and opportunities
    6.3.2.Market size and forecast, by region, 2020-2028
    6.3.3.Market share analysis, by country 2020 & 2028 

    6.4.Independent Retailers (Traditional Store)

    6.4.1.Key market trends, growth factors, and opportunities
    6.4.2.Market size and forecast, by region, 2020-2028
    6.4.3.Market share analysis, by country 2020 & 2028

    6.5.Online/Others

    6.5.1.Key market trends, growth factors, and opportunities
    6.5.2.Market size and forecast, by region, 2020-2028
    6.5.3.Market share analysis, by country 2020 & 2028 

    7.Processed Meat Market, by Region

    7.1.Overview

    7.1.1.Market size and forecast, by region

    7.2.North America

    7.2.1.Key market trends, growth factors, and opportunities
    7.2.2.Market size and forecast, by meat, 2020-2028
    7.2.3.Market size and forecast, by product, 2020-2028
    7.2.4.Market size and forecast, by Distribution Channel, 2020-2028
    7.2.5.Market size and forecast, by country, 2020-2028

    7.2.6.U.S.

    7.2.6.1.Market size and forecast, by meat, 2020-2028
    7.2.6.2.Market size and forecast, by product, 2020-2028
    7.2.7.Market size and forecast, by Distribution Channel, 2020-2028

    7.2.8.Canada

    7.2.8.1.Market size and forecast, by meat, 2020-2028
    7.2.8.2.Market size and forecast, by product, 2020-2028
    7.2.9.Market size and forecast, by Distribution Channel, 2020-2028

    7.2.10.Mexico

    7.2.10.1.Market size and forecast, by meat, 2020-2028
    7.2.10.2.Market size and forecast, by product, 2020-2028
    7.2.11.Market size and forecast, by Distribution Channel, 2020-2028

    7.3.Europe

    7.3.1.Key market trends, growth factors, and opportunities
    7.3.2.Market size and forecast, by meat, 2020-2028
    7.3.3.Market size and forecast, by product, 2020-2028
    7.3.4.Market size and forecast, by Distribution Channel, 2020-2028
    7.3.5.Market size and forecast, by country, 2020-2028

    7.3.6.Germany 

    7.3.6.1.Market size and forecast, by meat, 2020-2028
    7.3.6.2.Market size and forecast, by product, 2020-2028
    7.3.7.Market size and forecast, by Distribution Channel, 2020-2028

    7.3.8.UK

    7.3.8.1.Market size and forecast, by meat, 2020-2028
    7.3.8.2.Market size and forecast, by product, 2020-2028
    7.3.8.3.Market size and forecast, by Distribution Channel, 2020-2028

    7.3.9.France

    7.3.9.1.Market size and forecast, by meat, 2020-2028
    7.3.9.2.Market size and forecast, by product, 2020-2028
    7.3.9.3.Market size and forecast, by Distribution Channel, 2020-2028

    7.3.10.Spain

    7.3.10.1.Market size and forecast, by meat, 2020-2028
    7.3.10.2.Market size and forecast, by product, 2020-2028
    7.3.10.3.Market size and forecast, by Distribution Channel, 2020-2028

    7.3.11.Italy 

    7.3.11.1.Market size and forecast, by meat, 2020-2028
    7.3.11.2.Market size and forecast, by product, 2020-2028
    7.3.11.3.Market size and forecast, by Distribution Channel, 2020-2028

    7.3.12.Rest of Europe

    7.3.12.1.Market size and forecast, by meat, 2020-2028
    7.3.12.2.Market size and forecast, by product, 2020-2028
    7.3.12.3.Market size and forecast, by Distribution Channel, 2020-2028

    7.4.Asia Pacific

    7.4.1.Key market trends, growth factors, and opportunities
    7.4.2.Market size and forecast, by meat, 2020-2028
    7.4.3.Market size and forecast, by product, 2020-2028
    7.4.4.Market size and forecast, by Distribution Channel, 2020-2028
    7.4.5.Market size and forecast, by country, 2020-2028

    7.4.6.China

    7.4.6.1.Market size and forecast, by meat, 2020-2028
    7.4.6.2.Market size and forecast, by product, 2020-2028
    7.4.6.3.Market size and forecast, by Distribution Channel, 2020-2028

    7.4.7.Japan

    7.4.7.1.Market size and forecast, by meat, 2020-2028

    7.4.7.2.Market size and forecast, by product, 2020-2028
    7.4.7.3.Market size and forecast, by Distribution Channel, 2020-2028

    7.4.8.India 

    7.4.8.1.Market size and forecast, by meat, 2020-2028
    7.4.8.2.Market size and forecast, by product, 2020-2028
    7.4.8.3.Market size and forecast, by Distribution Channel, 2020-2028

    7.4.9.South Korea

    7.4.9.1.Market size and forecast, by meat, 2020-2028
    7.4.9.2.Market size and forecast, by product, 2020-2028
    7.4.9.3.Market size and forecast, by Distribution Channel, 2020-2028

    7.4.10.Australia 

    7.4.10.1.Market size and forecast, by meat, 2020-2028
    7.4.10.2.Market size and forecast, by product, 2020 2028
    7.4.10.3.Market size and forecast, by Distribution Channel, 2020-2028
    7.4.10.4.Comparative market share analysis, 2020 & 2028

    7.4.11.Rest of Asia Pacific

    7.4.11.1.Market size and forecast, by meat, 2020-2028
    7.4.11.2.Market size and forecast, by product, 2020-2028
    7.4.11.3.Market size and forecast, by Distribution Channel, 2020-2028

    7.5.LAMEA

    7.5.1.Key market trends, growth factors, and opportunities

    7.5.2.Market size and forecast, by meat, 2020-2028
    7.5.3.Market size and forecast, by product, 2020-2028
    7.5.3.1.Market size and forecast, by Distribution Channel, 2020-2028
    7.5.4.Market size and forecast, by country, 2020-2028

    7.5.5.Latin America  

    7.5.5.1.Market size and forecast, by meat, 2020-2028
    7.5.5.2.Market size and forecast, by product, 2020-2028
    7.5.5.3.Market size and forecast, by Distribution Channel, 2020-2028

    7.5.6.Middle East 

    7.5.6.1.Market size and forecast, by meat, 2020-2028
    7.5.6.2.Market size and forecast, by product, 2020-2028
    7.5.6.3.Market size and forecast, by Distribution Channel, 2020-2028

    7.5.7.Africa

    7.5.7.1.Market size and forecast, by meat, 2020-2028
    7.5.7.2.Market size and forecast, by product, 2020-2028
    7.5.7.3.Market size and forecast, by Distribution Channel, 2020-2028

    8.Company profiles

    8.1.JBS S.A
    8.1.1.Company overview
    8.1.2.Operating business segments
    8.1.3.Product portfolio
    8.1.4.Financial Performance
    8.1.5.Recent strategic moves & developments

    8.2.Smithfield Foods, Inc.

    8.2.1.Company overview
    8.2.2.Operating business segments
    8.2.3.Product portfolio
    8.2.4.Financial Performance
    8.2.5.Recent strategic moves & developments

    8.3.Perdue Farms, Inc

    8.3.1.Company overview
    8.3.2.Operating business segments
    8.3.3.Product portfolio
    8.3.4.Financial Performance
    8.3.5.Recent strategic moves & developments

    8.4.Tyson Foods, Inc.

    8.4.1.Company overview
    8.4.2.Operating business segments
    8.4.3.Product portfolio
    8.4.4.Financial Performance
    8.4.5.Recent strategic moves & developments

    8.5.American Foods Group

    8.5.1.Company overview
    8.5.2.Operating business segments
    8.5.3.Product portfolio
    8.5.4.Financial Performance
    8.5.5.Recent strategic moves & developments

    8.6.Cargill, Incorporated

    8.6.1.Company overview
    8.6.2.Operating business segments
    8.6.3.Product portfolio
    8.6.4.Financial Performance
    8.6.5.Recent strategic moves & developments

    8.7.Hormel Foods Corporation

    8.7.1.Company overview
    8.7.2.Operating business segments
    8.7.3.Product portfolio
    8.7.4.Financial Performance
    8.7.5.Recent strategic moves & developments

    8.8.Koch Foods, LLC.

    8.8.1.Company overview
    8.8.2.Operating business segments
    8.8.3.Product portfolio
    8.8.4.Financial Performance
    8.8.5.Recent strategic moves & developments

    8.9.OSI Group

    8.9.1.Company overview
    8.9.2.Operating business segments
    8.9.3.Product portfolio
    8.9.4.Financial Performance
    8.9.5.Recent strategic moves & developments

    8.10.Swiss Meat & Sausages Co

    8.10.1.Company overview
    8.10.2.Operating business segments
    8.10.3.Product portfolio
    8.10.4.Financial Performance
    8.10.5.Recent strategic moves & developments

    Regardless of rising health concerns among people about the consumption of processed meat, there have been hardly any changes in the quantity of processed meat products consumed by adults in the U.S. since the last 2 decades. Processed meat is nothing but a meat that is treated in some way to preserve or flavour it by fermenting, curing, salting, and smoking.

    Meat processing began centuries ago before refrigerators were invented. Salting and smoking techniques helped in the preservation of meats and kept it safe to consume for longer periods of time. Although refrigerators are broadly available nowadays, over time, several people have begun appreciating the flavour, variation, and ease that processed meat products offer.

    Processed meat and poultry products such as hot dogs, bacons, sausages, ham, and other deli meats are prodigious American traditions and iconic food items. In reality, bacon is usually called as the ultimate “conversion food” as it lures even firmest vegetarians.

    Processed meat products are usually termed “convenience meats” as they have already been prepared for safe and easy consumption. These products are available in a wide array of options, hence, consumers can choose the perfect product as per their likings and health necessities. Around 96% of Americans consume meat and poultry items as a part of their diets.

    The Current Picture of the Processed Meat Market

    The global processed meat market is currently observing a gigantic growth mostly owing to the growing demand for ready-to-eat meat products due to hectic routines and busy lifestyles, especially among working professionals. Furthermore, mounting urbanization and per capita income of people worldwide is expected to fuel the growth of the global processed meat market in the upcoming years.

    However, processed meat is mostly considered unhealthy. The consumption of processed meat products has been associated with disorders such as cancer and heart diseases in several studies. Undoubtedly, processed meat products contain numerous unsafe chemicals that are not present in fresh meat. These are some of the factors that are obstructing the growth of the market.

    Recent Trends in the Processed Meat Market

    The global market for processed meat has many existing, leading players building strategies and launching novel products to entice customers. The North American region is the leading consumer of processed meat. As per a report by Research Dive, the North American processed meat market is anticipated to garner $1,85,076.40 million by 2028, mainly owing to the rising preference for meat-based breakfast products among people as well as the presence of leading processed meat companies in the region.

    Some of the leading players of the global processed meat market are JBS S.A., Smithfield Foods, Inc., Tyson Foods, Inc., OSI Group, American Foods Group, LLC., Cargill, Incorporated, Hormel Foods Corporation, Perdue Farms, Inc., Koch Foods, LLC., Swiss Meat & Sausages Co., and others. Market players are focused on developing strategies such as novel product developments, partnerships, mergers and acquisitions, and collaborations to attain a leading position in the global market. For instance,

    • In December 2020, Axiom Foods, a plant-based ingredient solutions company, launched novel versions of processed meat products and VegOtein TX Texturized Pea Protein for Vegan.
    • In October 2021, Tyson Foods Inc., an American food company, launched a new product named “Tyson Air Fried Chicken Bites”. These chicken bites are available in frozen form and have 75% less fat and 35% less calories.

    Impact of the COVID-19 Pandemic on the Global Processed Meat Market

    The sudden outburst of the coronavirus pandemic has negatively impacted the global processed meat industry. The closure of hotels, restaurants, and cafes to avoid the spread of virus in the pandemic period has declined the demand for meat products across the globe. Also, quick servable cafes and restaurants like subway, KFC, McDonalds, and Burger King, were temporarily shut down during the lockdown period. All these factors dwindled the growth of the processed meat market. However, as and when the pandemic relaxes, the market is expected to recuperate from the losses and boost its growth with novel product launches.

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