PUBLISHER: IMARC | PRODUCT CODE: 1451228
PUBLISHER: IMARC | PRODUCT CODE: 1451228
The global processed meat market size reached US$ 599.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 933.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.9% during 2024-2032. The global market is primarily driven by the increasing consumer demand for convenience and protein-rich diets, continual technological advancements in food processing, the globalization of food cultures, rising disposable income levels, and changing consumer preferences.
Market Growth and Size: The market is experiencing robust growth, driven by increasing consumer demand for convenience and protein-rich diets. With North America leading in market size, the global industry is expanding due to diverse dietary habits and rising disposable incomes, reflecting a broad trend towards more convenient, high-quality food options.
Major Market Drivers: Key drivers include the shift towards fast-paced lifestyles requiring convenient meal solutions, a growing preference for protein-rich foods, and the globalization of food cultures which has expanded consumer tastes and preferences for meats.
Technological Advancements: Innovations in processing and preservation technologies, such as high-pressure processing (HPP) and improved freezing techniques, have significantly enhanced the safety, quality, and shelf life of meat products, playing a crucial role in market growth.
Industry Applications: Meats find extensive applications across retail and institutional sectors, with retail sales dominating due to consumer preference for shopping at supermarkets, hypermarkets, and online platforms, while the HoReCa sector drives demand in the food service industry.
Key Market Trends: The market is witnessing a shift towards healthier and premium meat options, with consumers increasingly looking for products with reduced fat, sodium, and additives. Sustainable and ethical meat processing practices are also becoming important factors influencing consumer choices.
Geographical Trends: While North America holds the largest market share, the Asia Pacific region is seeing rapid growth due to changing dietary habits and economic development. Europe remains focused on high-quality and traditionally meats, whereas emerging markets in Latin America and the Middle East and Africa are exploring growth opportunities.
Competitive Landscape: The meat market is highly competitive, with key players engaging in product innovation, strategic mergers, and acquisitions, and expanding their global presence to strengthen market position and cater to the changing consumer demands.
Challenges and Opportunities: Challenges include addressing health and environmental concerns associated with meat consumption and processing. However, these challenges also present opportunities for innovation in product development and market expansion, particularly in offering healthier, sustainable meat options and tapping into emerging markets with growing consumer bases.
Increased convenience and busy lifestyles
With more individuals juggling work, personal commitments, and social activities, the demand for convenient and quick meal options has increased. Meats, such as sausages, ham, and ready-to-eat meat products, cater to this need by offering time-saving solutions for meal preparation. The ease of cooking and the minimal preparation time make meats a preferred choice for people seeking both efficiency and nutritional value in their diets. Furthermore, the availability of a wide range of meat products across various retail formats enhances consumer access and convenience, further fueling market growth. This trend is underscored by the expansion of the global food processing technology and services sector, which continuously innovates to improve the quality, safety, and shelf life of meat products, aligning with consumer expectations for convenience without compromising on taste or health.
Growing demand for protein-rich diets
The global increase in health consciousness among consumers has led to a heightened demand for protein-rich diets, positioning meats as a focal dietary component for many. Protein is essential for various bodily functions, including muscle building, repair, and the overall maintenance of good health. Meats, being high in protein, offer a convenient source to meet these dietary needs. The market is responding to this demand by diversifying its product offerings to include a variety of meats processed in ways that retain nutritional value while enhancing flavor and shelf life. Innovations in meat processing techniques have also allowed for the reduction of unhealthy additives and preservatives, making meats more appealing to health conscious consumers.
Technological advancements in food processing
Modern technologies such as high-pressure processing (HPP), smoking, curing, and vacuum packaging have significantly enhanced the safety, quality, and shelf life of meat products. These advancements ensure that meat products retain their nutritional value, taste, and texture over longer periods, making them more appealing to consumers who prioritize both convenience and quality. Additionally, technology has enabled manufacturers to scale up production and ensure consistency in product quality, meeting the growing global demand efficiently. Innovations in processing technologies also facilitate the reduction of food waste, a concern for both consumers and producers, by extending the usability of meat products. As consumers become more aware of food safety and sustainability issues, the adoption of advanced processing technologies reassures them of the integrity of the products they consume, thereby propelling market growth.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on meat type, product type, processing type and distribution.
Poultry
Beef
Mutton
Pork
Others
Poultry accounts for the majority of the market share
The report has provided a detailed breakup and analysis of the market based on the meat type. This includes poultry, beef, mutton, pork, and others. According to the report, poultry represented the largest segment.
Fresh-Processed Meat
Raw Fermented Meat
Raw-Cooked Meat
Pre-Cooked Meat
Cured Meat
Dried Meat
Others
Fresh-processed meat holds the largest share in the industry
A detailed breakup and analysis of the market based on the product type have also been provided in the report. This includes fresh-processed meat, raw fermented meat, raw-cooked meat, pre-cooked meat, cured meat, dried meat, and others. According to the report, fresh-processed meat accounted for the largest market share.
Chilled
Frozen
Canned
Chilled represents the leading market segment
The report has provided a detailed breakup and analysis of the market based on the processing type. This includes chilled, frozen, and canned. According to the report, chilled represented the largest segment.
Institutional Sales (HoReCa)
Retail Sales
Supermarkets and Hypermarkets
Grocery Stores
Specialty Retailers
Online Stores
Others
Retail sales exhibits a clear dominance in the market
A detailed breakup and analysis of the market based on the distribution have also been provided in the report. This includes institutional sales (HoReCa) and retail sales (supermarkets and hypermarkets, grocery stores, specialty retailers, online stores, and others). According to the report, retail sales accounted for the largest market share.
North America
United States
Canada
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Latin America
Brazil
Mexico
Argentina
Colombia
Chile
Peru
Others
Middle East and Africa
Turkey
Saudi Arabia
Iran
United Arab Emirates
Others
North America leads the market, accounting for the largest processed meat market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates, and others). According to the report, North America accounted for the largest market share.
BRF SA
Cargill Inc.
Foster Farms
Hormel Foods Corporation
JBS SA
Marel hf
Marfrig
National Beef
Nippon Ham Foods Ltd.
OSI Group
Perdue Farms
Pilgrim's Pride
Sadia
Sanderson Farms Inc
Sysco
Tyson Foods