PUBLISHER: Allied Market Research | PRODUCT CODE: 1344360
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344360
According to a new report published by Allied Market Research, titled, "Canned Lamb Market," The canned lamb market was valued at $1.6 billion in 2022, and is estimated to reach $2.4 billion by 2032, growing at a CAGR of 4.1% from 2023 to 2032.
The popularity of lamb has increased, as meat is predicted to increase demand for the canned lamb industry. This is increasing demand for canned lamb products, as people seek easy and convenient ways to cook and prepare lamb. For instance, according to the Organization for Economic Cooperation and Development (OECD), the global consumption of lamb meat has increased from 15.07K thousand tonnes in 2018 to 15.97K thousand tonnes in 2022. Some of the reasons for lamb meat's popularity include its health benefits and distinct flavor. Such an increase in lamb meat intake due to its benefits is likely to drive market demand even more.
The World Health Organization has classified processed meat as Group 1 carcinogenic which means there is convincing evidence available that proves that consumption of processed meat can cause colorectal cancer. There is certain chemical such as haem present in red meat. Haem is further responsible for creating N-nitroso chemicals that are proven to damage the cells that line the bowel, causing bowel cancer. As a result, eating more than 700 grams of processed beef every week raises the risk of cancer. Rising consumer knowledge, rising health consciousness, and expanding demand for healthy food products are just a few of the variables that may encourage the health-conscious population to shun canned lamb intake. As a result, the carcinogenic qualities of processed meat may impede the worldwide canned lamb market's expansion throughout the forecast period.
The growing global desire for organic meat is projected to be the next trend in the canned lamb market. The global population's growing health consciousness and awareness of healthy eating practises is driving people to choose organic food items. Organic food assures that it is devoid of chemicals. Organic meat means that no growth hormones, medicines, or other additives were fed to the livestock. Animal feed must be grown in accordance with organic standards. There will be no use of chemical pesticides or fertilizers on feed crops or grasses grown to feed livestock animals. These guidelines ensure that organic beef is produced. Furthermore, demand for organic beef is increasing in established areas such as Europe and North America as a result of improved consumer knowledge, adoption of healthy eating habits, and increased health consciousness among the population. As a result, the use of organic beef in processed meat processing is projected to gain popularity in developed markets.
The canned lamb market is segmented on the basis of end-user, distribution channel, and region. On the basis of end-user, the canned lamb market is further segmented into human and animal. The animal segment is further segmented into dog and cat. On the basis of distribution channel, supermarkets/hypermarkets, convenience stores, independent retailers, and online. Region-wise the market is segmented into North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Russia, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Egypt, and Rest of LAMEA).