The processed meat market refers to the global industry involved in the production, distribution, and consumption of various types of meat products that have undergone processing techniques to enhance their flavor, extend shelf life, and improve convenience. Processed meats are derived from animal sources such as beef, pork, poultry, and seafood.
Processed meat products can include a wide range of items, such as sausages, bacon, ham, hot dogs, salami, canned meats, and deli meats. These products often undergo processes like curing, smoking, fermentation, cooking, and packaging. They are typically seasoned with spices, additives, and preservatives to enhance taste and improve preservation.
The processed meat market is a dynamic and evolving sector driven by consumer demand for convenient and flavorful meat products. However, increasing health concerns have prompted a shift towards healthier options, including low-sodium and plant-based alternatives. The industry continues to adapt and innovate to meet the changing needs of consumers worldwide.
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In 2022, the market for processed meat is projected to be worth US$328.8 billion. New home delivery models have fueled market expansion and are anticipated to change the game during the projected period. The overall demand for processed meat is projected to grow at a CAGR of 6.3% between 2022 and 2032, totaling around 605.14 Billion by 2032.
The demand for fresh processed meat has increased significantly as a result of the varied meat preservation methods. Consumers in metropolitan areas favour eating fresh processed meat products because of the fast-paced nature of city life. The amount of time needed to cook raw meat before serving will continue to help the demand for fresh processed meat products expand.
There are also many chances for expansion for fresh processed meat products as hot dogs and other processed meat products gain popularity in the global food industry.The working class of society favours fresh processed meat products, which are commonly regarded as the best fast food items.
Global Fresh Processed Meat Products Market: Drivers & Restraints
The growing income of urbanised population has fuelled the demand in the global market for fresh processed meat products. Additionally, the busy urban life has resulted in consumers opting for convenient food that do not expend more time for cooking or preparation.
The rising preference of consuming ready-to-eat meat is also considered as the key factor driving the growth of the global fresh processed meat products market. However, there are several factors restraining the growth of the fresh processed meat products market. The key restraints of the global market for fresh processed meat products include,
- Increasing obesity levels & unhealthy lifestyle
Consumption of processed food products triggers the upsurge of cholesterol and fat levels in the body, forcing the consumer to live an unhealthy lifestyle. Rising obesity levels are generating more awareness about the drawbacks of processed food consumption, thereby hampering the demand for fresh processed meat products.
- Growing number of meat-eaters
The mounting rise in the number of meat eating consumers has alarmed the manufacturers of fresh processed meat products. In order to meet the brimming demand, the process for retaining the freshness of the meat is hampered, which consequentially affects the impending demand.
- Demand for high-protein & fat-free meat
Fresh processed meat products are derived from preservation through curing, smoking, canning, drying or salting the raw meat. As a result, the processed meat holds high percent of fat and moderate levels of protein. Hence, the demand for fresh processed meat products is not prominent among a large segment of consumers who opt for high-protein and fatless meat products.
- Rising inclination towards Cancer & Heart Disease risks
The health consciousness among consumers is restraining the growth of the fresh processed meat products, owing to the high awareness of its disadvantages on the health. The high incidence rate of Cancer and cardiovascular disorders among consumers of fresh processed meat products is lowering the demand, and keeping the manufacturers reluctant about business expansion.
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Key Companies Profiled are –
- JBS,
- NH Foods Ltd,
- Smithfield Foods, Inc.,
- Cargill Incorporated,
- ConAgra Foods Inc.,
- National Beef Packing Company, LLC,
- Tyson Foods Inc.,
- Cherkizovo Group PJSC
- OSI Group
Key Segments Covered in the Processed Meat Industry Analysis
Processed Meat Market by Type:
- Hamburgers
- Fried Sausages
- Kebab
- Chicken Nuggets
Processed Meat Market by Packaging:
- Chilled
- Frozen
- Canned
Processed Meat Market by Meat Type:
- Beef
- Pork
- Chicken
- Mutton
- Others
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