Processed Meat Market

Processed Meat Market Size:

The global processed meat market size reached US$ 599.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 933.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.9% during 2024-2032. The global market is primarily driven by the increasing consumer demand for convenience and protein-rich diets, continual technological advancements in food processing, the globalization of food cultures, rising disposable income levels, and changing consumer preferences.

Processed Meat Market Analysis:

• Market Growth and Size: The market is experiencing robust growth, driven by increasing consumer demand for convenience and protein-rich diets. With North America leading in market size, the global industry is expanding due to diverse dietary habits and rising disposable incomes, reflecting a broad trend towards more convenient, high-quality food options.
• Major Market Drivers: Key drivers include the shift towards fast-paced lifestyles requiring convenient meal solutions, a growing preference for protein-rich foods, and the globalization of food cultures which has expanded consumer tastes and preferences for meats.
• Technological Advancements: Innovations in processing and preservation technologies, such as high-pressure processing (HPP) and improved freezing techniques, have significantly enhanced the safety, quality, and shelf life of meat products, playing a crucial role in market growth.
• Industry Applications: Meats find extensive applications across retail and institutional sectors, with retail sales dominating due to consumer preference for shopping at supermarkets, hypermarkets, and online platforms, while the HoReCa sector drives demand in the food service industry.
• Key Market Trends: The market is witnessing a shift towards healthier and premium meat options, with consumers increasingly looking for products with reduced fat, sodium, and additives. Sustainable and ethical meat processing practices are also becoming important factors influencing consumer choices.
• Geographical Trends: While North America holds the largest market share, the Asia Pacific region is seeing rapid growth due to changing dietary habits and economic development. Europe remains focused on high-quality and traditionally meats, whereas emerging markets in Latin America and the Middle East and Africa are exploring growth opportunities.
• Competitive Landscape: The meat market is highly competitive, with key players engaging in product innovation, strategic mergers, and acquisitions, and expanding their global presence to strengthen market position and cater to the changing consumer demands.
• Challenges and Opportunities: Challenges include addressing health and environmental concerns associated with meat consumption and processing. However, these challenges also present opportunities for innovation in product development and market expansion, particularly in offering healthier, sustainable meat options and tapping into emerging markets with growing consumer bases.
   

Processed Meat Market Trends:

Increased convenience and busy lifestyles

With more individuals juggling work, personal commitments, and social activities, the demand for convenient and quick meal options has increased. Meats, such as sausages, ham, and ready-to-eat meat products, cater to this need by offering time-saving solutions for meal preparation. The ease of cooking and the minimal preparation time make meats a preferred choice for people seeking both efficiency and nutritional value in their diets. Furthermore, the availability of a wide range of meat products across various retail formats enhances consumer access and convenience, further fueling market growth. This trend is underscored by the expansion of the global food processing technology and services sector, which continuously innovates to improve the quality, safety, and shelf life of meat products, aligning with consumer expectations for convenience without compromising on taste or health.

Growing demand for protein-rich diets

The global increase in health consciousness among consumers has led to a heightened demand for protein-rich diets, positioning meats as a focal dietary component for many. Protein is essential for various bodily functions, including muscle building, repair, and the overall maintenance of good health. Meats, being high in protein, offer a convenient source to meet these dietary needs. The market is responding to this demand by diversifying its product offerings to include a variety of meats processed in ways that retain nutritional value while enhancing flavor and shelf life. Innovations in meat processing techniques have also allowed for the reduction of unhealthy additives and preservatives, making meats more appealing to health conscious consumers.

Technological advancements in food processing

Modern technologies such as high-pressure processing (HPP), smoking, curing, and vacuum packaging have significantly enhanced the safety, quality, and shelf life of meat products. These advancements ensure that meat products retain their nutritional value, taste, and texture over longer periods, making them more appealing to consumers who prioritize both convenience and quality. Additionally, technology has enabled manufacturers to scale up production and ensure consistency in product quality, meeting the growing global demand efficiently. Innovations in processing technologies also facilitate the reduction of food waste, a concern for both consumers and producers, by extending the usability of meat products. As consumers become more aware of food safety and sustainability issues, the adoption of advanced processing technologies reassures them of the integrity of the products they consume, thereby propelling market growth.

Processed Meat Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on meat type, product type, processing type and distribution.

Breakup by Meat Type:

• Poultry
• Beef
• Mutton
• Pork
• Others
   

Poultry accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the meat type. This includes poultry, beef, mutton, pork, and others. According to the report, poultry represented the largest segment.

The poultry segment leads the global meat market, attributed to its widespread consumer acceptance, perceived health benefits, and versatility in various cuisines. Poultry, especially chicken, is considered a lean source of protein and is lower in saturated fats compared to red meats, aligning with the health-conscious trends among consumers. Its affordability and availability across markets also contribute to its dominant position. Innovations in poultry processing, packaging, and flavoring have expanded the product range, catering to diverse consumer tastes and preferences.

On the other hand, beef holds a significant share in the meat market, prized for its rich flavor and high protein content. This segment benefits from a strong demand in regions where beef consumption is a cultural norm, supported by a well-established supply chain from cattle rearing to processing. Processed beef products, such as burgers, sausages, and canned meats, enjoy popularity in both retail and foodservice sectors.

Moreover, the mutton segment, encompassing sheep and goat meat, caters to specific cultural and culinary traditions, marking its niche in the meat market. Preferred in many Middle Eastern, Asian, and North African cuisines, mutton is celebrated for its distinctive flavor and is often associated with festive and ceremonial meals. The processing of mutton into products, such as kebabs, sausages, and canned goods extends its shelf life and enhances its appeal to a broader audience.

Additionally, pork is a key segment in the market, with a substantial consumer base, particularly in Asia, Europe, and the Americas. It is valued for its versatility, flavor, and fat content, which contribute to a wide range of processed products, such as bacon, ham, sausages, and salami. Cultural acceptance and dietary preferences play a crucial role in shaping the demand for pork products.

Breakup by Product Type:

• Fresh-Processed Meat
• Raw Fermented Meat
• Raw-Cooked Meat
• Pre-Cooked Meat
• Cured Meat
• Dried Meat
• Others
   

Fresh-processed meat holds the largest share in the industry 

A detailed breakup and analysis of the market based on the product type have also been provided in the report. This includes fresh-processed meat, raw fermented meat, raw-cooked meat, pre-cooked meat, cured meat, dried meat, and others. According to the report, fresh-processed meat accounted for the largest market share.

Dominating the meat market, the fresh- processed meat segment includes products such as sausages, patties, and meatballs that are prepared from ground or minced meat with the addition of various ingredients for flavoring. This segment's popularity is driven by its convenience, flavor diversity, and the minimal cooking time required, making it a favored choice for quick and easy meal preparations. The appeal of fresh variants lies in their ability to blend seamlessly into a wide array of culinary traditions, offering consumers a versatile option for enhancing their dishes. Manufacturers have also focused on addressing health concerns by offering options with reduced fat, sodium, and additives, further solidifying this segment's position at the forefront of the market.

On the other hand, the raw fermented meat segment includes products, such as salami, pepperoni, and chorizo, which undergo a fermentation process that imparts unique flavors and acts as a natural preservation method. This segment caters to consumers seeking traditional and artisanal meat products with distinctive tastes. The fermentation process extends the shelf life of these meats and enhances their nutritional profile by increasing beneficial bacteria content.

Furthermore, raw-cooked meat segment encompasses meat products that are cooked and then packaged, such as lunch meats, cooked ham, and roast beef slices. The convenience of these ready-to-eat meats makes them a popular choice for consumers looking for quick meal solutions without the need for further preparation. Raw-cooked meats are particularly favored in the deli and sandwich market, appealing to both the retail and food service sectors for their ease of use and versatility.

Moreover, pre-cooked meat products, including items, such as pre-grilled chicken strips and fully cooked sausages, offer the ultimate convenience by significantly reducing meal preparation time. This segment caters to busy consumers who prioritize ease and speed in their cooking routines. The pre-cooked nature of these products ensures a level of safety and consistency in quality, addressing consumer concerns about meat preparation.

Additionally, cured meats, such as bacon, prosciutto, and corned beef, are preserved through curing processes involving salt, nitrates, or sugar. This segment is appreciated for the depth of flavor and preservation qualities imparted by the curing process, making these meats a staple in various culinary traditions. Cured meats serve both as standalone delicacies and essential ingredients in cooking, offering flavor complexity to dishes.

Breakup by Processing Type:

• Chilled
• Frozen
• Canned
   

Chilled represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the processing type. This includes chilled, frozen, and canned. According to the report, chilled represented the largest segment.

The chilled segment represents the largest share of the market, largely as it caters to consumer demand for freshness and minimal processing, which are key factors driving purchasing decisions. Chilled meats, including various cuts and types of meats that are kept refrigerated but not frozen, are favored for maintaining a closer taste and texture to fresh meat. This segment's prominence is underlined by the consumer perception that chilled meats are healthier and of higher quality compared to their frozen or canned counterparts. The preference for chilled meats reflects a broader market trend towards convenience foods that do not compromise on taste or nutritional value, driving innovations in packaging and preservation techniques to extend shelf life without the use of excessive preservatives.

On the contrary, the frozen meat segment occupies a significant market share, appealing to consumers for its convenience, longer shelf life, and ability to preserve the nutritional value of meats. Frozen meats range from whole cuts to pre-cooked and ready-to-cook options, providing solutions for a variety of meal preparations. This segment benefits from the changing consumer lifestyles that demand convenience and flexibility in meal planning and preparation. The processed meat market share is bolstered by improvements in freezing technology that minimize the loss of taste and texture, making frozen options more appealing to consumers who prioritize both quality and convenience.

Furthermore, canned meats hold a distinct position in the market, offering the longest shelf life among meat types and unparalleled convenience. This segment includes meats that have been cooked and then canned, preserving them without the need for refrigeration. The processed meat market growth is supported by consumers seeking non-perishable food options for emergency preparedness, outdoor activities, or simply for convenience.

Breakup by Distribution:

• Institutional Sales (HoReCa)
• Retail Sales
  • Supermarkets and Hypermarkets
  • Grocery Stores
  • Specialty Retailers
  • Online Stores
  • Others
     

Retail sales exhibits a clear dominance in the market

A detailed breakup and analysis of the market based on the distribution have also been provided in the report. This includes institutional sales (HoReCa) and retail sales (supermarkets and hypermarkets, grocery stores, specialty retailers, online stores, and others). According to the report, retail sales accounted for the largest market share.

Retail sales constitute the largest segment in the distribution of meats, encompassing sales through supermarkets, hypermarkets, convenience stores, and online platforms. This segment captures a broad consumer base, offering accessibility and a wide selection of products tailored to individual preferences and needs. Retail outlets serve as the primary touchpoint for consumers seeking convenience, variety, and value, providing a diverse range of meat products from fresh to frozen options. The growth in retail sales is propelled by the expanding global supermarket culture, increasing consumer reliance on one-stop shopping experiences, and the rising trend of online grocery shopping, which offers added convenience through home delivery services.

On the other hand, the institutional sales segment, encompassing hotels, restaurants, and cafeterias (HoReCa), plays a significant role in the distribution of meats, catering to the demand for pre-prepared and specialty meat products within the foodservice industry. This segment benefits from the growing global tourism industry and the increasing consumer spending on dining out. HoReCa establishments often require specific types of meats that differ in quality, cuts, and preparation methods to meet the culinary demands of diverse menus and dining experiences.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
  • Others
• Middle East and Africa
  • Turkey
  • Saudi Arabia
  • Iran
  • United Arab Emirates
  • Others
     

North America leads the market, accounting for the largest processed meat market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates, and others). According to the report, North America accounted for the largest market share.

North America represents the largest segment in the global market, driven by high consumer demand for convenience foods, a well-established meat processing industry, and a strong culture of meat consumption. The region's market dominance is further supported by the presence of major food processing companies and advanced distribution networks that ensure wide availability of diverse meat products. Consumers in North America, particularly in the United States and Canada, exhibit a preference for protein-rich diets, contributing to the high consumption of meats. The market is also seeing shifts towards healthier and premium meat options, reflecting growing health consciousness among consumers.

On the other hand, the Asia Pacific region is experiencing rapid growth in the meat market, fueled by changing dietary habits, urbanization, and rising disposable incomes. The region's diverse culinary traditions and the growing acceptance of Western eating habits have broadened the consumer base for meats. The Asia Pacific market is characterized by a preference for pork and poultry, and there is a growing demand for frozen and ready-to-eat meat products.

Moreover, Europe holds a significant share of the global meat market, with a strong preference for high-quality and traditional meat products. The region is known for its stringent food safety regulations, which have shaped consumer expectations towards meats. European consumers are particularly interested in products with geographical indications, organic certification, and clear labeling of ingredients.

Furthermore, the Latin American meat market is driven by a rich culinary culture that includes a variety of meat-based dishes and snacks. Economic growth and urbanization in countries such as Brazil, Mexico, and Argentina have led to increased consumer spending on processed foods, including meats. The region shows a strong preference for beef and poultry, reflecting the local dietary habits and agricultural practices.

Additionally, the meat market in the Middle East and Africa is emerging, with growth driven by urbanization, changing lifestyle patterns, and an increasing emphasis on convenience foods among the younger population. The market in this region is characterized by a preference for halal-certified meat products, aligning with the religious and cultural practices of the majority Muslim population. Countries, such as South Africa, Saudi Arabia, and the United Arab Emirates are leading the demand within the region.

Leading Key Players in the Processed Meat Industry:

Key players in the meat market are actively engaging in strategic initiatives to enhance their market presence and cater to the changing consumer preferences. These initiatives include product innovation, focusing on healthier and more sustainable meat processing methods to meet the growing demand for nutritious and environmentally friendly products. Companies are also expanding their global footprint through mergers, acquisitions, and partnerships, aiming to tap into new markets and diversify their product portfolios. Additionally, significant investments in research and development are being made to improve food safety and extend shelf life, while marketing efforts are increasingly leveraging digital platforms to reach a wider audience and promote brand awareness. These strategies collectively reflect the industry's response to the dynamic market trends and the continuous pursuit of growth opportunities.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• BRF SA
• Cargill Inc.
• Foster Farms
• Hormel Foods Corporation
• JBS SA
• Marel hf
• Marfrig
• National Beef
• Nippon Ham Foods Ltd.
• OSI Group
• Perdue Farms
• Pilgrim's Pride
• Sadia
• Sanderson Farms Inc
• Sysco
• Tyson Foods
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

• 07 February 2024: Cargill Inc. purchased two meat plants from long-time partner Ahold Delhaize USA. The company has invested in two processing facilities to expand its production and distribution of supermarket case-ready beef and pork to retailers in the Northeast part of the country.
• 09 August 2022: Hormel Foods Corporation has announced a new strategic operating model, aligning its businesses to be more agile, consumer and customer focused, and market driven.
• 07 June 2022: Foster Farms was acquired by Atlas Holdings, a Connecticut based holding company. The company commits to upholding and advancing its legacy, deeply rooted in animal welfare, exceptional product quality, outstanding customer service, and active community engagement.

Processed Meat Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the processed meat market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global processed meat market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the processed meat industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.