Processed Meat Market Size, Growth, Price Analysis, Share to 2026 | Global Research Report by Fortune Business Insights™
Processed Meat Market size is expected
to witness significant growth owing to growing preference for organic meat
products and increasing demand for innovative food products across the globe.
Fortune Business Insights, publish this
i8nformation in its latest report, titled “Processed Meat Market Size,
Share & Industry Analysis, By Type (Frozen, Canned, and Chilled), Animal
Type (Poultry, Beef, Pork, and Others), Distribution Channel
(Hypermarket/Supermarket, Convenience Stores, Specialty Stores, and Others),
and Regional Forecast, 2020 – 2027” According to the report, the market is
projected to reach USD 862.97 billion by 2027, while exhibiting a CAGR of 6.24%
between 2020 and 2027. The report further observes that the market was worth
USD 519.41 billion in 2019.
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A processed meat usually undergoes modification in order to improve its taste
and shelf life suitable for consumption. Additionally, this meat involves
products that contain either 100% meat or at time minimum amount of meat.
Furthermore, they include products such as chicken sausages, canned tuna,
corned beef, canned meat, and bacon, among others. They are easy to cook and
can be consumed anytime, while involving minimal time for cooking. According to
a report by the American Meat Institute (AMI), 96% of the Americans include
meat and poultry products in their diet.
What does the Report Include?
The market report includes detailed
quantitative and qualitative analysis of several factors such as the key
drivers and restraints that will affect market growth. In addition to this, the
report provides insights into the regional analysis that covers the different
regions, which are contributing to the growth of the market. Furthermore, it
includes the competitive landscape that involves leading companies and adoption
of strategies by them to innovate novel products, announce partnerships, and
collaboration that will contribute to the growth of the market between 2019 and
2026. Moreover, the research analyst has adopted several research methodologies
such as PESTEL and SWOT analysis to extract information about the current
trends and industry developments that will drive the market growth in the
forthcoming years.
Drivers and Restraints:
Increasing Demand for Organic Processed
Meat Products to Promote Growth
The synthetic food products contain
nitrites and nitrates in larger quantities and high consumption of the products
have harmful effects on the human body and may lead to cancer in some cases.
Therefore, the growing demand for safe and healthy food products is driving the
demand for organic animal husbandry. Additionally, organic processed meat
products contain fewer pesticides, are fresh, and have a longer shelf life as
compared to synthetic products. Furthermore, growing demand for convenience and
ready-to-eat products is propelling the manufacturers to opt for organic meat
products that are anticipated to drive the global processed meat market growth
in the forthcoming years.
COVID-19 TO Drive the Sales of the
Product
The global pandemic has had a
widespread effect on several economies across the globe, while everything
remains on the standstill. Several regions are under lockdown imposed by the
government agencies worldwide that is hampering the growth prospects. However,
the imposed lockdown owing to the novel coronavirus is surging the demand for
convenience food products that can be consumed in less time and come with
longer shelf life. This is likely to bode well for the growth of the market as
people are preferring healthy organic processed meat products and seen as a
positive sign for at least a couple of years.
Regional Insights:
High Demand for Healthy Convenience
Food Products in North America to Foster Growth
Among the regions, the market in North
America was worth USD 212.05 billion in 2019 and is expected to hold the
highest global processed meat market revenue during the forecast period. This
is ascribable to factors such as increasing demand for convenience food
products and high-protein animal meat products. Additionally, strong network of
distribution channel in the region is expected to aid the market growth.
Europe, on the other hand, is expected to be the second-most leading region
during the projected horizon. This is attributable to factors such as presence
of large population consuming this meat in countries such as Italy, Germany,
and France in the region.
The market in Asia-Pacific is likely to
witness significant growth owing to rising urbanization and high disposable
income among the working population. Moreover, high adoption of ready-to-eat
food products in the region will aid in market growth between 2020 and 2027.
Competitive Landscape:
Dawn Farms Acquiring Haas GmbH to Stoke
High Demand
In October 2019, Dawn Farms, an
Ireland-based meat-producing firm, announced its acquisition of Haas GmbH, a
German cooked meat producer. According to the company, acquiring the German
Haas will enable it to gain a footprint in the lucrative German market, while
exploring its business acumen outside Ireland and the UK for the first time.
Larry Murrin, CEO of Dawn says, “Our Company has been serving the European
market for the past 25 years and this acquisition is an important step for our
endeavors to establish our manufacturing presence in the German market and
continue to consolidate our business.”
List of the Leading Companies Operating in the Processed Meat Market are:
- 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)
Browse Summary of This Research Report
with Detailed Table of Content: https://www.fortunebusinessinsights.com/industry-reports/processed-meat-market-100556
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Supply Chain & Regulatory Analysis
- Global Processed Meat Trade Analysis
- Recent Industry Developments - Policies, Partnerships, New
Type Launches, and Mergers & Acquisitions
- Global Processed Meat Market Analysis, Insights and Forecast,
2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Frozen
- Canned
- Chilled
- By Animal Type
- Poultry
- Beef
- Pig
- Others
- By Distribution Channel
- Hypermarket/Supermarkets
- Convenience Stores
- Specialty Stores
- Online Retail
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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