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Global Processed Meat Market to Reach USD 427.5 Billion by 2027, Aided by the Increase in Consumption of Ready-to-Eat Food

According to a new report by EMR titled, ‘Global Processed Meat Market Report and Forecast 2022-2027’, the global processed meat market attained a value of USD 320.2 billion in 2021. The industry is expected to grow at a CAGR of 4.90% in the forecast period of 2022-2027 to reach a value of USD 427.5 billion by 2027.

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.

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 (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) 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.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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