The new report by Expert Market Research titled, ‘Global Processed Meat Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global Processed Meat Market, assessing the market based on its segments like meat type, product type, application, distribution channel, and region.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 320.2 Million
- Forecast CAGR (2023-2028): 4.9%
- Forecast Market Size (2028): USD 427.5 Million
Because of dual-income households and busy lives, increased consumer demand for ready-to-cook and ready-to-eat meals is driving processed meat industry growth. The convenience and time-saving features of ready-to-eat food are driving up demand. This is a crucial component driving the global market expansion of processed meat.
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Furthermore, the rapid expansion of fast-food outlets such as KFC, McDonald’s, Subway, Burger King, and Taco Bell has had a significant impact on processed meat consumption. Furthermore, the discounts and low-cost meal packages provided by these fast-food restaurants contribute significantly to market growth.
Industry Definition and Major Segments
Processed meat refers to meat products that have been altered and enhanced with several additives. Some of the most common additives are salt, sugar, oil, minerals, acidifiers, flavouring agents, preservative combinations, and other spices. Meat is treated to improve its flavour and quality, as well as to lengthen its shelf life and overall flavour.
On the basis of meat type, the market is segmented into:
On the basis of product type, the market is divided into:
On the basis of application, the market is categorized as:
On the basis of distribution channel, the market is bifurcated as:
- Convenience Stores
- Independent Retailers
On the basis of region, the market is segmented into:
- North America
- Latin America
- Middle East and Africa
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Because of dual-income households and busy lives, increased consumer demand for ready-to-cook and ready-to-eat meals is fueling the rise of the processed meat business. The convenience and time-saving characteristics of ready-to-eat food are increasing demand. This is a crucial component driving the expansion of the global processed meat market.
Furthermore, the rapid expansion of fast-food outlets such as KFC, McDonald’s, Subway, Burger King, and Taco Bell has had a significant impact on processed meat consumption. Furthermore, the discounts and low-cost meal packages provided by these fast-food restaurants are a crucial element contributing to market growth.
Key Market Players
The major players in the market are American Foods Group LLC, Cargill, Inc, Hormel Foods Corporation, JBS USA Food Company Holdings, Koch Foods, OSI Industries, LLC, Perdue Farms, Inc, Smithfield Foods, Inc., Tyson Foods, Inc., Swiss Meat and Sausage Co., and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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