Processed Meat Market is projected to grow at a CAGR of 4.1% over the forecast period, till 2029.
The factors driving the growth of Processed Meat Market includes growing consumption of fruits, vegetables, and cereals, rise in the working women population around the world, increasing demand for ready-to-eat food products and improvements in the living standards. In addition, growing adoption of advanced technologies by manufactures, increasingly availability of processed meat products at online stores, rising popularity of organic processed meat products and rapid urbanization, are some of the additional factors supplementing the Global Processed Meat Market. Moreover, rise in the launch of innovative products, increasing investments by major corporations on research and development and growing population growth rates, are further contributing towards the market growth.
However, growth of the Processed Meat Market is hindered due to carcinogenic effects of processed meat products.
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The leading players operating in the market are JBS, Tyson Foods, Inc., China Xiangtai Food Co., Ltd., Smithfield Foods, Inc., Hormel Foods Corporation, Conagra Brands, Inc., Foster Farms, Cargill, Incorporated, Pilgrim’s and The Kraft Heinz Company, among others.
Based on Product Type, the Pre-cooked ready-to-eat product segment is predicted to expand at a remarkable CAGR during the forecast period
Ready to eat processed products are easy to store and transport and possess longer lifespan, are some of the factors responsible for the segment’s growth.
Based on Distribution Channel, the Supermarkets/ Hypermarkets segment is projected to capture the largest market share over the forecast period
Supermarkets and hypermarkets offer wide range of processed meat products at attractive discount rates and provides free home delivery options on certain purchases, are propelling growth of the segment.
Based on Region, the North American region is anticipated to hold the highest market share during the forecast period
Presence of the leading players such as Smithfield Foods, Inc., The Kraft Heinz Company and Tyson Foods, Inc., growing consumption of meat products across Untied States and Canada, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.
- In 2020, JBS completed the acquisition of local pork processor Adelle Industria de Alimentos, with an aim to strengthen its position in the pork processing market in Brazil.
Segmentation by Product Type
- Cured Meat
- Pre-cooked ready-to-eat product
- Dried meat
Segmentation by Animal Type
Segmentation by Distribution Channel
- Supermarkets/ Hypermarkets
- Discount Stores
- Convenience Sores
- Traditional Grocery Retailers
Segmentation by Processing Technique
Segmentation by Region
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
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