According to the report Processed Meat Market, published by Market Data Forecast, the global market is projected to reach USD 874.45 billion by 2021, at a CAGR of 14.2% from 2016 to 2021.
The process of producing variety of meat products by using animal fat, muscle meat and some non-meat additives is called meat processing. To enhance the flavor, color and emergence of products additives are used. Additives are also used for increase for bulk production of processed meat.
Processed meat is an industry which is mainly driven by the demand of meat. Due to population growth and increase in the consumption of protein based diet, the demand of processed meat is quite high in the market. Also, increase in the pay scale of middle class consumers in developing countries and surge in the need of convenience food also contributes to the growth of the market. Processed poultry is the largest segment and accounts for the largest share of the processed meat market. Cured meat is expected to witness high growth in the forecast period.
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Processed Meat Market: Drivers & Restraints
Growing urbanisation in developing countries has increased demand for fresh meat products. With the increasing population, demand for processed meat is bound to increase as meat is becoming a regular source of protein in household. Also in developed and developing countries, increasing disposable income has allowed people to spend on various food products which also contributes in market growth. Other reasons for increase in demand for meat products is influenced by the convenience, variety, prices and services that the food retail firms have been offering to their customers. Some of the restraining factors could be government regulations on manufacturing of such products, process of treating meat and rising health concerns among consumers.
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Processed Meat Market: Segmentation
By Processing Technology
- Fresh Processed Meat.
- Raw-Cooked Meat.
- Pre-Cooked Meat.
- Raw-Fermented Meat.
- Cured Meat.
- Dried Meat.
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Processed Meat Market: Overview
Different meat preservation techniques have resulted in tremendous growth in the demand for fresh processed meat. Urban consumers prefer eating fresh processed meat products to cope up time in fast paced city life. Processed meat is expected to exhibit high gains in light of increasing demand for processed meat coupled with increasing disposable income in emerging countries. Moreover, rising consumer awareness regarding animal protein rich diet and large varieties of processed meat available in the market at lower prices is further expected to boost the demand for processed meat. Increasing cost of feed raw ingredients is the key problem confronted by the manufacturers.
Poultry segment accounts for highest share in processed meat by type. Also frozen meat products such as hot dogs and hamburgers are very popular in North American region. Cured meat is widely consumed and accounts for 65% of the market share. Fully cooked and formed meat type is the major segment in cured meat.
Processed Meat Market: Region-wise Outlook
The global processed meat market is segmented on the basis of the six key geographical regions. Among those, North America will continue to dominate in terms of volumes of processed meat being produced. In other regions, China and Brazil will contribute equal market growth during forecast period while 70% of the market share is expected to be dominated by North America.
Asia-pacific region has the potential growth of the market mainly due to increased demand for high-value protein food and growth in organized retail. Increased awareness among the masses about the health hazards of processed meat has slowed down the consumption rate in Europe.
Key Questions Answered
- What is the competitive landscape and market share of major players in the Asia-Pacific region?
- What are the drivers, key factors leading the market? Which market segments are growing the fastest?
- What are the unmet technological needs currently on the market? How will emerging technologies fulfil these unmet needs?
- What are the challenges and barriers that have restricted market growth for Processed Meat?
- What measures are taken by leading companies to increase market growth?
Processed Meat Market: Key Players
Key players in the processed meat market include Tyson Foods, Cargill Inc., Gulf Food Industries, Sunbulah Group, BRF S.A., Cherkizovo Group, National Food Co., Hormel Foods, Marfrig Group and Sanderson Farms Inc.
Reasons to buy Processed Meat Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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