Global Processed Meat Market to Reach $429.1 Billion by 2029

Boston, Nov. 08, 2024 (GLOBE NEWSWIRE) — “According to the latest study from BCC Research “Processed Meat: Global Markets” will be $429.1 billion by the end of 2029, with a CAGR of 5.0% from 2024 to 2029.”

Using 2023 as the starting point and projecting trends through 2029, this report looks at the market from the supply side and considers factors such as technological advances, economic conditions, and business strategies that influence the industry. The report discusses the different types of processed meat products and their origins, covers the factors driving the market and examines trends shaping the global and regional markets.

The processed meat market is being shaped by rising health concerns, which drive demand for safer and healthier alternatives, as well as new global regulations on food safety and labeling. Additionally, the growing focus on sustainability is pushing the industry towards more eco-friendly practices. Innovations in food processing and preservation are opening up new product opportunities, and the rapid growth of plant-based meat alternatives is transforming the traditional processed meat landscape.

The factors driving the global processed meat market include:

Socioeconomic and demographic factors: Higher disposable incomes enable consumers to spend more on convenience foods, including processed meats. Urbanization contributes to this trend as city dwellers often seek ready-to-eat and easy-to-prepare food options due to their busy lifestyles. Additionally, population growth naturally increases the overall demand for food, including processed meat products.

Expansion of cold chain logistics: New refrigeration and transportation technologies allows processed meats to be stored and transported over longer distances without spoiling. This has facilitated global trade, making it easier for processed meat products to reach international markets. Moreover, efficient cold chain systems help reduce food waste by ensuring that more products reach consumers in good condition.

Increasing Consumption of protein-rich diets: Health trends emphasizing the importance of protein intake have led to a rise in the consumption of protein-rich foods, including processed meats. The growing focus on fitness and wellness has further boosted the demand for protein-packed foods to support muscle growth and overall health. Additionally, dietary preferences are shifting towards higher protein intake, with many consumers adopting diets such as ketogenic and paleo that prioritize protein consumption.

Product innovation and diversification: Companies are continually introducing new flavors, textures, and varieties of processed meats to cater to different consumer segments. There is also a trend towards developing healthier processed meat options, such as low-fat, low-sodium, and organic products, to meet the demands of health-conscious consumers. Innovations in packaging and product formats, such as ready-to-eat meals and snack packs, enhance convenience, making processed meats more appealing to busy consumers.

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Report Synopsis

Report Metrics	Details
Base year considered	2023
Forecast period considered	2024-2029
Base year market size	$318.2 billion
Market size forecast	$429.1 billion
Growth rate	CAGR of 5.0% from 2024 to 2029
Segments covered	Product type, Animal type, distribution channel and region
Regions covered	North America, Europe, Asia-Pacific, South America, and the Middle East and Africa (MEA)
Countries covered	U.S., Mexico, Canada, Brazil, Argentina, Colombia, Peru, Russia, Spain, Germany, France, Poland, China, India, Pakistan, Indonesia, Vietnam, South Africa, Egypt, Iran, and Nigeria
Market Drivers	Socioeconomic and demographic factors influence processed meat demand Expansion of cold chain logistics Increasing consumption of protein-rich diets Product innovation and diversification

Interesting facts about the global processed meat market:

1. China is the global leader in processed meat consumption, which is boosting market growth. However, increasing health and environmental concerns are driving changes in consumer preferences and industry practices.
2. Convenience stores and supermarkets/hypermarkets remain the main purchase points for processed meat. Meanwhile, the rise of plant-based meat alternatives challenges traditional market dynamics by offering healthier and more sustainable options.

The report addresses the following questions:

1. What is the projected growth rate and market size of the processed meat market?

• The processed meat market is projected to be $429.1 billion by the end of 2029, with a CAGR of 5.0%.

2. What are the key factors driving the growth of the processed meat market?

• Increasing urbanization and busy lifestyles.
• Growing demand for convenient, ready-to-eat foods.
• Rising disposable incomes, particularly in emerging markets.
• Expansion of the fast-food industry.
• Advances in food processing and preservation technologies.
• Consumer shift towards high-protein diets.

3. What segments are covered in the market?

• The processed meat market is segmented by animal type, product type, distribution channel, and region. By animal type; the market is segmented into poultry, cattle and buffalo, sheep and goat, swine, and other. By product type, the market is segmented into cured meat pieces, fresh industrial processed meat products, precooked ready-to-eat products, fermented sausages, dried meat, and other. Distribution channels include supermarkets/hypermarkets, convenience stores, retail and Hoel/restaurant and cafe/catering (HoReCa), online platforms, and other.

4. Which animal segment will dominate the market by 2029?

• The poultry segment will continue to dominate the market.

5. Which region has the highest market share?

• The Asia-Pacific region accounts for 45.2% of global consumption and revenue. Due to their increased domestic consumption, China and India are the leaders in this region’s growth.

Market leaders include:

• BRF GLOBAL
• CARGILL INC.
• CONAGRA BRANDS INC.
• HORMEL FOODS CORP.
• JBS S.A.
• MARFRIG GLOBAL FOODS S.A.
• OSI GROUP
• SYSCO CORP.
• TYSON FOODS INC.
• WH GROUP LTD.

Other related reports include:
Plant-based Meat: Global Markets: This report provides market projections of the plant-based meat market from 2023 to 2028, along with an analysis of the market shares of leading companies. The report discusses the sources of plant-based meat, including wheat, soy, pea, and other plant proteins. Product types covered include sausages and hot dogs, meatballs, ground and tenders, burger patties, strips and nuggets, and other variants. Additionally, the market is segmented by category into refrigerated, frozen, and shelf-stable products.

Organic Fertilizers: Global Markets: This report provides an in-depth analysis of the global organic fertilizer market, by source, crop type, type, and form, and includes forecasts through 2028. Additionally, it analyzes recent developments and product portfolios of leading companies, concluding with a look at the vendor landscape.

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