Processed Meat Market Size, Share, Competitive Landscape and Trend Analysis Report, by Meat Type, Product Type, Application and Distribution Channel : Global Opportunity Analysis and Industry Forecast 2021-2030

The global processed meat market size was valued at $319.6 billion in 2020, and is estimated to reach $497.1 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030.

Meat is considered to be processed when it is preserved by curing it by smoking, salting, fermenting, and adding any chemical to extend its shelf-life and improve its taste. Meat such as beef, pork, turkey, chicken, and lamb are commonly used to produce processed meat. Various processed meat products include pepperoni, jerky, hot dogs, and sausages. Certain preservatives are added to the meat to protect it from spoiling due to bacteria and other such organisms.

The rapid expansion of fast-food chains such as KFC, McDonalds, Subway, Burger King, and Taco Bell has had a significant influence in increasing consumption of processed meat. Moreover, the discounts and affordable meal packages offered by these fast-food chains significantly contributed to the growth of the processed meat market across the globe. According to the U.S. Center for Disease and Control Prevention, approximately 37% of the American population consumes fast food on daily basis. Therefore, the increased consumption of processed meat in developed regions has fostered the market growth in the past.

The busy lifestyle of the consumers owing to a rise in the number of employments have resulted in an increase in consumption of ready-to-cook and ready-to-eat food. The convenience and time saving associated with the ready-to-eat food have resulted in a rise in demand. This is a significant element driving the growth of the global processed meat market.

The COVID-19 pandemic adversely affected the meat production and supply chain. Hotels, restaurants, and cafes play an important role in the distribution channel of the processed meat market. Most importantly, the quick service restaurant chains such as McDonalds, KFC, Subway, and Burger King were all compelled to temporarily or permanently close during the COVID-19 period. Dine-in facilities were limited for customers at these restaurant chains. The cafes were completely closed, while the hotels were closed owing to travel restrictions. The global processed meat market experienced revenue losses during the lockdown period due to the non-operation of this important distribution channel.

According to the global processed meat market analysis, the market is segmented on the basis of meat type, product type, application, distribution channel. On the basis of meat type, the market is segregated into poultry, beef, pork, and others. On the basis of product type, it is classified into frozen, chilled, and canned. On the basis of the market is bifurcated into commercial and residential. On the basis of distribution channel, the processed meat market is segmented into HoReCa (Hotels, Restaurants, and Cafes), supermarkets/hypermarkets, convenience stores, independent retailers, and others.

On the basis of region, the processed meat market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Russia, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Egypt, and rest of LAMEA).

According to the processed meat market forecast, on the basis of meat type, the pork segment is expected to be the fastest-growing segment owing to its nutritional benefits, satisfying taste, and growing popularity among the global consumers. The poultry segment dominated the market in 2020, accounting for around 43.2% of the processed meat market share owing to its low cost and nutritional advantages over red meat.

On the basis of the product type, the frozen segment accounted for 67.9% of the overall market share. Factors such as technological advancements pertaining to improving the shelf life of frozen meat products, rise in preference for convenience and ready-to-cook foods, and increase in demand from household and commercial sectors are driving the frozen segment.

On the basis of application, the commercial segment dominated the processed meat market in 2020, accounting for 85.0%. The commercial segment has grown significantly in the past few decades due to the increased popularity of fast-food chains, restaurants, and cafes such as KFC, McDonalds, Dominos, Burger King, and Yum Brands. Moreover, hotels, restaurants, and cafes at the local level play a significant role in the processed meat consumption.

As per the processed meat market trends, on the basis of distribution channel, the HoReCa (Hotels, restaurants, and cafes) and the supermarkets/hypermarkets collectively accounted for 70.5% in 2020 due to their increased popularity in the developed markets like North America and Europe. 

Players operating in the processed meat market have used a variety of developmental strategies to expand their market share, exploit the processed meat market opportunities, and boost market profitability. The key players profiled in this report include American Foods Group, LLC., Cargill, Incorporated, Hormel Foods Corporation, JBS S.A., Koch Foods, LLC., OSI Group, Perdue Farms, Inc., Smithfield Foods, Inc., Swiss Meat & Sausages Co., and Tyson Foods, Inc.

Key Benefits For Stakeholders

• The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
• The major countries in each region are mapped according to their revenue contribution to the market. 
• The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the processed meat industry.

Key Market Segments

By Meat Type

• Poultry
• Beef
• Pork
• Others

By Product Type

• Frozen
• Chilled
• Canned

By Application

• Commercial
• Residential

By Distribution Channel

• HoReCa
• Supermarkets/Hypermarkets
• Convenience Stores
• Independent Retailers
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • Argentina
  • South Africa
  • Egypt 
  • Rest of LAMEA

  Processed Meat Market Report Highlights

Aspects	Details
By MEAT TYPE	Poultry Beef Pork Others
By PRODUCT TYPE	Frozen Chilled Canned
By APPLICATION	Commercial Residential
By DISTRIBUTION CHANNEL	HoReCa Supermarkets/Hypermarkets Convenience Stores Independent Retailers Others
By Region	North America  (U.S., Canada, Mexico) Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe) Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific) LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players	Swiss Meat & Sausage Co., Cargill, Incorporated, .OSI Group, JBS S.A., American Foods Group LLC, Tyson Foods, Inc., Koch Foods LLC, Smithfield Foods, Inc., Perdue Farms, Inc., Hormel Foods Corporation

Analyst Review

Rise in preference for organic meat across the globe is expected to be the upcoming trend in the market. Increase in health consciousness and awareness regarding healthy food habits among the global population is encouraging consumers to choose organic food products. Organic labelled food ensures that the food is chemical-free. Organic meat means that no growth promoters, drugs, or any other additives are fed to the livestock. Animal feed must be grown as per organic standards. There will be no use of chemical pesticides or fertilizers on the feed crops or grasses cultivated to feed the livestock animals as well as no use of genetically modified organisms (GMO). When an animal is farmed accordance with the aforementioned standards, the meat derived from that animal is said to be organic meat. The consumption of organic meat is said to be healthier since it is free from toxic chemicals. Therefore, consumers prefer organic meat, and so the use of organic meat in the production of processed meat products such as bacon, ham, pepperoni, and beef jerky would increase the demand for processed meats and thus contributing towards the growth of the global processed meat market.

E-commerce will play a significant role in the growth and development of processed meat market. The utilization of internet technology coupled with the growing adoption of smartphones and increase in e-commerce platforms will positively and significantly boost the sale of the processed meat. The increase in popularity of various food delivery platforms such as Deliveroo, Grubhub, Dunzo, Faasos, Eatfit, Scootsy, and Zomato is boosting the sales of processed meat. The millennials tend to order food from these e-commerce platforms more frequently and hence it is positively impacting the growth of the processed meat market across the globe.

Author Name(s) : Dinesh Thakur| Aniket Kadam | Roshan Deshmukh

Related Tags

• Meat Product
• Food Processing
• Convenience Food
• Packaged Food
• Canned Food
• Fast Food
• Snacks