Global Processed Meat Market to Reach USD 543.02 Billion by 2032, Aided by the Increase in Consumption of Ready-to-Eat Food

The growing demand for ready-to-eat products around the world is driving the market. This is facilitated by the increasing per capita income and changing people's dietary behaviours. Working professionals' busy schedules and hectic lifestyles have also boosted the sale of processed meat products. Aside from that, there has been a huge increase in consumer demand for animal-based proteins. This can be linked to consumers' rising awareness of the benefits of consuming nutrient-dense packaged products. The increased popularity of international cuisines is also driving the industry. The increased convenience of these products provide significant expansion in the food processing industry, thereby aiding the adoption of processed meat. The rapid rise of online and organised retail across the globe is supporting the market expansion. In addition, a range of quick-service restaurant (QSR) chains, restaurants, hotels, various retail, and convenience stores, provide a variety of goods with processed meat as the primary ingredient. Advancements in meat preservation techniques and a growing taste for frozen meat products are some of the major reasons driving market expansion.

Multiple industry companies are seeking mergers and acquisitions as a significant business strategy to increase their production capacity. For example, in 2018, Tyson Foods, Inc. (NYSE: TSN), an American food service company, bought Marfrig Global Foods' Keystone Foods division, advancing its growth strategy and expanding its value-added protein capabilities. This purchase included six processing plants and an innovation centre in the United States and eight factories and three innovation centres spread around the Asia Pacific. The company was able to extend its international presence and provide better service to its food service customers as a result of this business move.

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Market Analysis by Meat Type, Product Type, Applications, Distribution Channels, and Regions:

• Based on meat type, the market is divided into poultry, beef, and pork, among others.

• Based on the product type, the market is divided into frozen, chilled, and canned.

• The leading applications of the industry include commercial and residential.

• The distribution channels in the market include HoReCa, supermarkets/hypermarkets, convenience stores, and independent retailers, among others.

• The regional markets for processed meat include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Increasing urbanisation and rising awareness among consumers is anticipated to propel the market growth for processed meats.

• The rising consumption of organic meat products are giving growth opportunities for the market to flourish.

• The government is supporting the producers and processes of meat products which will flourish the market forward.

• The increasing research and development in the production of processed poultry and meat industry will augment the market growth.

• The adoption of meat product suitability is likely to give prospective opportunities for the processed meat market to flourish.

Key Offerings of the Report:

• The EMR report gives an overview of the global processed meat market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecasted (2024-2032) markets for meat type, product type, applications, distribution channels, and major regions of processed meat.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global processed meat industry 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., and Swiss Meat and Sausage Co., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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