Processed Meat Market by Meat Type (Poultry, Beef, Pork, and Others), Product (Frozen, Chilled, and Canned), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Independent Retailers, and Online/Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

Global Processed Meat Market Analysis

The global processed meat market size is predicted to garner $4,79,472.50 million in the 2021–2028 timeframe, growing from $2,77,000.00 million in 2020, at a healthy CAGR of 7.20%.  

Market Synopsis

Strategic alliances among market players, along with growing demands for processed meat across the globe, are expected to accelerate the growth of the processed meat market.

However, high cost of processed meat and it not being suggested as a healthy food are some of the growth-restricting factors for the market.

According to the regional analysis, the Asia-Pacific processed meat market size is anticipated to grow during the review period and generate revenue of $98,771.30 million, with CAGR of 7.90% due to increasing adoption of ready to eat foods in the region.  

Processed Meat Overview

Processed meat is preserved by curing it with the help of fermenting, salting, smoking, and by adding certain chemicals to extend the shelf-life or to improve their taste. Some of the meats that are commonly preserved are pork, chicken, lamb, and beef. Processed meats are mostly used in ready to eat foods and junk foods such as hot dogs, sausages, burgers, and others.

Covid-19 Impact on Processed Meat Market Shares

The novel coronavirus pandemic had a devastating effect on several industries. The global processed meat market experienced a notable decline in growth during this period. Processed meat market growth was affected due to closing down of hotels, restaurants, and cafes throughout the pandemic. Also, quick servable restaurants and cafes such as KFC, subway, McDonalds. and Burger King were all closed during the COVID-19 period, which are some of the factors that decreased the market for processed meat.

Furthermore, top companies that are in processed meat such as Tyson Foods Inc., Smithfield Farms, JBS USA, and Cargill Inc. had closed or limited their facilities for meat processing facilities. All such factors are expected to negatively affect the processed meat industry. Moreover, ongoing travel restrictions and closing down of hotels might affect the global market. The above-stated factors show that the pandemic may have affected the market but resuming of all dining facilities post-pandemic might ultimately increase the sustainable opportunities for processed meat market in the coming years.

Increasing Prevalence of Ready-to-eat Meat Products to Surge the Market Growth

The global processed meat industry is witnessing a massive growth mainly due to increasing demand for ready-to-eat meat products owing to hectic lifestyles and busy schedules, along with increasing working professionals. Moreover, rising urbanization and per capita income of may fuel the growth of the global processed meat market.

Furthermore, according to an article published by NCBI (National Center for Biotechnology Information), in November 2019, in Switzerland, processed meat has a very unique role in diet as it is closely linked to their culture and tradition and is often the main course at various festive gathering. These types of factors are predicted to drive the growth of the market.

To know more about global processed meat market trends, drivers, get in touch with our analysts here.

Disadvantages Associated with Processed Meat to Restrain the Market Growth

Processed meat is considered as unhealthy food as it can increase the risk of heart issues and cancer. Processed meat contains a lot of harsh chemicals which can affect the health of the person if consumed on daily basis. These are some of the factors anticipated to hinder the market value of the processed meat in the next few years.

Rising Demand for Animal Proteins among the Young Population to Create Massive Investment Opportunities

The global processed meat market is spreading at a very fast pace due to increasing demand for animal-based proteins among the fitness freak people across the globe. Moreover, animal proteins such as milk, eggs, and meat are considered as the complete proteins as they provide all the essential nutrients and amino acids that the body needs. Moreover, growing trends of nutrient-rich packaged meat products are some of the factors that are positively affecting the processed meat market growth.

Furthermore, processed meat industry already has leading market players innovating strategies to attract customers. For example, in 2021, Tyson Foods Inc., American food company, announced that they have launched their new product named “Tyson Air Fried Chicken Bites”, it is chicken bites that have 35% less calories and 75% less fat, and is available in frozen form. All such aspects may further lead to lucrative market opportunities for key players in the upcoming years.

To know more about global processed meat market trends, opportunities, get in touch with our analysts here.

[MEATTYPEGRAPH]

Source: Research Dive Analysis

The poultry type sub-segment is predicted to have a dominating as well as fastest market growth in the global market. The sub-segment is expected to register a revenue of $1,95,272.50 million during the forecast period. Poultry is one the most consumed meats across the globe owing to its low cost and high nutritional content. Moreover, poultry meat is enriched with important nutrition such as iodine and selenium including omega-3 fats which lack in normal diets. Furthermore, companies are adopting various strategies to attract customers. For instance, Tyson Foods Inc., largest food company in the US, announced in 2020, that they are acquiring Tecumseh Poultry LLC, one the best brands of chicken. These factors and strategic alliances may bolster the growth of the sub-segment during the forecast period and processed meat market demand.

[PRODUCTGRAPH]

Source: Research Dive Analysis

The frozen sub-segment of the global processed meat market growth is projected to be the dominant as well as have the fastest growth. It is also projected to surpass $2,90,669.30 million by 2028, with an increase from $1,64,607.00 million in 2020. This growth in the market can be attributed to growing demand for ready to eat foods that are available in frozen form. Also, meat in frozen form is safe to consume as the low temperature restricts the growth of harmful bacteria and microbes. All such elements may increase the demand for sub-segment and processed meat market demand.

[DISTRIBUTIONCHANNELGRAPH]

Source: Research Dive Analysis

The supermarkets/hypermarkets sub-segment is predicted to have a leading market share in processed meat globally and register a revenue of $2,95,508.80 million during the analysis timeframe owing to availability of diverse range of processed meat and their products in the supermarket, freedom of selection, and other facilities. Furthermore, at supermarkets buyers can get quality goods at affordable and lower prices. Such factors may create huge opportunities for the sub-segment throughout the forecast period.

The convenience stores sub-segment of the global processed meat market is projected to have the fastest growth. It is also projected to surpass $1,00,051.10 million by 2028, with an increase from $56,211.90 million in 2020. Convenience stores are also known as convenience shop or small corner store. They are small business retailers who offer wide range of products including processed meat. Moreover, people are buying processed meat in convenience stores because products are easily available near their locations in case of emergency. All such elements may increase the demand for sub-segment and processed meat market demand.

[REGIONGRAPH]

Source: Research Dive Analysis

The Market for Processed Meat in North America to be the Most Dominant

The North America processed meat market accounted $1,06,645.00 million in 2020 and is projected to register a revenue of $1,85,076.40 million by 2028. The extensive growth of the North America processed meat market is mainly driven by factors such as changing appetites and eating habits along with trend of trying out new products mostly in Canada and the US. Also, in North American countries, people are preferring meat-based breakfast items with existence of top leading companies augmenting the industry growth in the region. Moreover, growing demands for processed meat across the US is one of the factors that is fueling the market growth across the globe. These factors will ultimately drive the demand in the processed meat market across the region.  

The Market for Processed Meat in Asia-Pacific to be the Fastest Growing

The share of Asia-Pacific processed meat market is expected to rise at a CAGR of 7.90%, by registering a revenue of $98,771.30 million by 2028. The growth shall be a result of rising demand for ready to eat and frozen meats such as fresh and pork meat, and growing trends of snacking. Such aspects may bolster the demand for processed meat market, in the upcoming years.

Competitive Scenario in the Global Processed Meat Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Source: Research Dive Analysis

Some of the leading processed meat market players are JBS S.A., Smithfield Foods, Inc., Perdue Farms, Inc., Tyson Foods, Inc., American Foods Group, LLC., Cargill, Incorporated, Hormel Foods Corporation, Koch Foods, LLC., OSI Group, and Swiss Meat & Sausages Co.

Porter’s Five Forces Analysis for the Global Processed Meat Market:

• Bargaining Power of Suppliers: The product suppliers of processed meat market are high in number and are larger and more globalized. So, there will be less threat from the suppliers.
  Thus, the bargaining power of suppliers is low. 
• Bargaining Power of Buyers: Buyers demand different types of processed meat products that are of different flavors and form. This has increased the pressure on the processed meat providers to offer the best processed meats. This gives the buyers the option to freely choose processed meat products that best fits their preference.
  Thus, the bargaining power of the buyers is high. 
• Threat of New Entrants: Companies entering the processed meat market are adopting various innovations such as developing processed meat that are available in different packaging and taste.
  Thus, the threat of the new entrants is moderate.
• Threat of Substitutes: There are various substitute available for processed meat such as different types of animal-based proteins, but their shelf lives are not that long as compared to processed meat.
  Thus, the threat of substitutes is low.
• Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including JBS SA and Tyson. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
  Therefore, competitive rivalry in the market is high.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By meat trends
2.3.By Product trends
2.4.By Distribution Channel trends 

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis

3.8.1.Stress point analysis
3.8.2.Raw material analysis
3.8.3.Manufacturing process
3.8.4.Sales Channel analysis
3.8.5.Operating vendors

3.8.5.1.Raw material suppliers
3.8.5.2.meat manufacturers
3.8.5.3.meat distributors

3.9.Strategic overview

4.Processed Meat Market, by Meat

4.1.Overview

4.1.1.Market size and forecast, by meat

4.2.Poultry

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region, 2020-2028
4.2.3.Market share analysis, by country 2020 & 2028

4.3.Beef

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region, 2020-2028
4.3.3.Market share analysis, by country 2020 & 2028

4.4.Pork

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region, 2020-2028
4.4.3.Market share analysis, by country 2020 & 2028

4.5.Others

4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast, by region, 2020-2028
4.5.3.Market share analysis, by country 2020 & 2028

5.Processed Meat Market, by Product

5.1.Overview

5.1.1.Market size and forecast, by Sales Channel

5.2.Frozen

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2020-2028
5.2.3.Market share analysis, by country 2020 & 2028

5.3.Chilled 

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2020-2028
5.3.3.Market share analysis, by country 2020 & 2028

5.4.Canned   

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region, 2020-2028
5.4.3.Market share analysis, by country 2020 & 2028

6.Processed Meat Market, by Distribution channel

6.1.Overview

6.1.1.Market size and forecast, by Sales Channel

6.2.Supermarket/Hypermarket

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region, 2020-2028
6.2.3.Market share analysis, by country 2020 & 2028

6.3.Convenience Stores (Discount Store)

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region, 2020-2028
6.3.3.Market share analysis, by country 2020 & 2028 

6.4.Independent Retailers (Traditional Store)

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region, 2020-2028
6.4.3.Market share analysis, by country 2020 & 2028

6.5.Online/Others

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by region, 2020-2028
6.5.3.Market share analysis, by country 2020 & 2028 

7.Processed Meat Market, by Region

7.1.Overview

7.1.1.Market size and forecast, by region

7.2.North America

7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by meat, 2020-2028
7.2.3.Market size and forecast, by product, 2020-2028
7.2.4.Market size and forecast, by Distribution Channel, 2020-2028
7.2.5.Market size and forecast, by country, 2020-2028

7.2.6.U.S.

7.2.6.1.Market size and forecast, by meat, 2020-2028
7.2.6.2.Market size and forecast, by product, 2020-2028
7.2.7.Market size and forecast, by Distribution Channel, 2020-2028

7.2.8.Canada

7.2.8.1.Market size and forecast, by meat, 2020-2028
7.2.8.2.Market size and forecast, by product, 2020-2028
7.2.9.Market size and forecast, by Distribution Channel, 2020-2028

7.2.10.Mexico

7.2.10.1.Market size and forecast, by meat, 2020-2028
7.2.10.2.Market size and forecast, by product, 2020-2028
7.2.11.Market size and forecast, by Distribution Channel, 2020-2028

7.3.Europe

7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by meat, 2020-2028
7.3.3.Market size and forecast, by product, 2020-2028
7.3.4.Market size and forecast, by Distribution Channel, 2020-2028
7.3.5.Market size and forecast, by country, 2020-2028

7.3.6.Germany 

7.3.6.1.Market size and forecast, by meat, 2020-2028
7.3.6.2.Market size and forecast, by product, 2020-2028
7.3.7.Market size and forecast, by Distribution Channel, 2020-2028

7.3.8.UK

7.3.8.1.Market size and forecast, by meat, 2020-2028
7.3.8.2.Market size and forecast, by product, 2020-2028
7.3.8.3.Market size and forecast, by Distribution Channel, 2020-2028

7.3.9.France

7.3.9.1.Market size and forecast, by meat, 2020-2028
7.3.9.2.Market size and forecast, by product, 2020-2028
7.3.9.3.Market size and forecast, by Distribution Channel, 2020-2028

7.3.10.Spain

7.3.10.1.Market size and forecast, by meat, 2020-2028
7.3.10.2.Market size and forecast, by product, 2020-2028
7.3.10.3.Market size and forecast, by Distribution Channel, 2020-2028

7.3.11.Italy 

7.3.11.1.Market size and forecast, by meat, 2020-2028
7.3.11.2.Market size and forecast, by product, 2020-2028
7.3.11.3.Market size and forecast, by Distribution Channel, 2020-2028

7.3.12.Rest of Europe

7.3.12.1.Market size and forecast, by meat, 2020-2028
7.3.12.2.Market size and forecast, by product, 2020-2028
7.3.12.3.Market size and forecast, by Distribution Channel, 2020-2028

7.4.Asia Pacific

7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by meat, 2020-2028
7.4.3.Market size and forecast, by product, 2020-2028
7.4.4.Market size and forecast, by Distribution Channel, 2020-2028
7.4.5.Market size and forecast, by country, 2020-2028

7.4.6.China

7.4.6.1.Market size and forecast, by meat, 2020-2028
7.4.6.2.Market size and forecast, by product, 2020-2028
7.4.6.3.Market size and forecast, by Distribution Channel, 2020-2028

7.4.7.Japan

7.4.7.1.Market size and forecast, by meat, 2020-2028

7.4.7.2.Market size and forecast, by product, 2020-2028
7.4.7.3.Market size and forecast, by Distribution Channel, 2020-2028

7.4.8.India 

7.4.8.1.Market size and forecast, by meat, 2020-2028
7.4.8.2.Market size and forecast, by product, 2020-2028
7.4.8.3.Market size and forecast, by Distribution Channel, 2020-2028

7.4.9.South Korea

7.4.9.1.Market size and forecast, by meat, 2020-2028
7.4.9.2.Market size and forecast, by product, 2020-2028
7.4.9.3.Market size and forecast, by Distribution Channel, 2020-2028

7.4.10.Australia 

7.4.10.1.Market size and forecast, by meat, 2020-2028
7.4.10.2.Market size and forecast, by product, 2020 2028
7.4.10.3.Market size and forecast, by Distribution Channel, 2020-2028
7.4.10.4.Comparative market share analysis, 2020 & 2028

7.4.11.Rest of Asia Pacific

7.4.11.1.Market size and forecast, by meat, 2020-2028
7.4.11.2.Market size and forecast, by product, 2020-2028
7.4.11.3.Market size and forecast, by Distribution Channel, 2020-2028

7.5.LAMEA

7.5.1.Key market trends, growth factors, and opportunities

7.5.2.Market size and forecast, by meat, 2020-2028
7.5.3.Market size and forecast, by product, 2020-2028
7.5.3.1.Market size and forecast, by Distribution Channel, 2020-2028
7.5.4.Market size and forecast, by country, 2020-2028

7.5.5.Latin America  

7.5.5.1.Market size and forecast, by meat, 2020-2028
7.5.5.2.Market size and forecast, by product, 2020-2028
7.5.5.3.Market size and forecast, by Distribution Channel, 2020-2028

7.5.6.Middle East 

7.5.6.1.Market size and forecast, by meat, 2020-2028
7.5.6.2.Market size and forecast, by product, 2020-2028
7.5.6.3.Market size and forecast, by Distribution Channel, 2020-2028

7.5.7.Africa

7.5.7.1.Market size and forecast, by meat, 2020-2028
7.5.7.2.Market size and forecast, by product, 2020-2028
7.5.7.3.Market size and forecast, by Distribution Channel, 2020-2028

8.Company profiles

8.1.JBS S.A
8.1.1.Company overview
8.1.2.Operating business segments
8.1.3.Product portfolio
8.1.4.Financial Performance
8.1.5.Recent strategic moves & developments

8.2.Smithfield Foods, Inc.

8.2.1.Company overview
8.2.2.Operating business segments
8.2.3.Product portfolio
8.2.4.Financial Performance
8.2.5.Recent strategic moves & developments

8.3.Perdue Farms, Inc

8.3.1.Company overview
8.3.2.Operating business segments
8.3.3.Product portfolio
8.3.4.Financial Performance
8.3.5.Recent strategic moves & developments

8.4.Tyson Foods, Inc.

8.4.1.Company overview
8.4.2.Operating business segments
8.4.3.Product portfolio
8.4.4.Financial Performance
8.4.5.Recent strategic moves & developments

8.5.American Foods Group

8.5.1.Company overview
8.5.2.Operating business segments
8.5.3.Product portfolio
8.5.4.Financial Performance
8.5.5.Recent strategic moves & developments

8.6.Cargill, Incorporated

8.6.1.Company overview
8.6.2.Operating business segments
8.6.3.Product portfolio
8.6.4.Financial Performance
8.6.5.Recent strategic moves & developments

8.7.Hormel Foods Corporation

8.7.1.Company overview
8.7.2.Operating business segments
8.7.3.Product portfolio
8.7.4.Financial Performance
8.7.5.Recent strategic moves & developments

8.8.Koch Foods, LLC.

8.8.1.Company overview
8.8.2.Operating business segments
8.8.3.Product portfolio
8.8.4.Financial Performance
8.8.5.Recent strategic moves & developments

8.9.OSI Group

8.9.1.Company overview
8.9.2.Operating business segments
8.9.3.Product portfolio
8.9.4.Financial Performance
8.9.5.Recent strategic moves & developments

8.10.Swiss Meat & Sausages Co

8.10.1.Company overview
8.10.2.Operating business segments
8.10.3.Product portfolio
8.10.4.Financial Performance
8.10.5.Recent strategic moves & developments

* Taxes/Fees, If applicable will be added during checkout. All prices in USD.