Global Processed Meat Market Forecast to Reach USD 895.7 Million by 2028, At a Huge CAGR Of 9.13% | Growth Market Reports
PUNE, India, Dec. 23, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Processed Meat Market by Meat Type (Poultry, Beef, Mutton, Pork, Others), Product Types (Fresh-Processed Meat, Raw Fermented Meat, Raw-Cooked Meat, Pre-Cooked Meat, Cured Meat, Dried Meat, Others), Storage Types (Chilled, Frozen, and Canned), By Distribution Channels (Institutional Sales (HoReCa), Retail Sales, Supermarkets and Hypermarkets, Grocery Stores, Specialty Retailers, Online Stores), and Region: Size, Share, Trends and Opportunity Analysis, 2018-2028", the market was valued at US$ 445.28 Billion in 2020 and is expected to grow at a moderate growth rate of 9.13 % by the year 2028. Increasing inclination towards flavored meat products expected to act as a driving force for the market and rising awareness for organic processed meat products is expected to drive the market growth during forecast period.
Key Market Players Profiled in the Report
- BRF Global
- Cargill Inc.
- Foster Farms
- Hormel Foods Corporation
- JBS SA
- Perdue Farms
- Pilgrim's
- Sadia
- Sanderson Farms Inc.
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.
Highlights on the segments of the Processed Meat Market
In terms of meat types, the Processed Meat Sales Market is bifurcated into poultry, beef, mutton, pork, others. The poultry segment is expected to dominate the market during the forecast period, The segment growth is mainly attributed owing to the cheap and affordability of the poultry products such as chicken or turkey.
In terms of product type, the Processed Meat Sales Market is segmented into Fresh-Processed Meat, Raw Fermented Meat, Raw-Cooked Meat, Pre-Cooked Meat, Cured Meat, Dried Meat, Others. The fresh-processed meat segment held a substantial market share. The segment growth is mainly attributed owing to the rising preference for fresh-processed meat within hotels and restaurants.
In terms of storage type, the processed meat sales market is bifurcated into chilled, frozen, canned. Based on storage type, the market is segmented into frozen, canned, and chilled. The frozen segment held the largest market share in 2020. The increasing preference for frozen meat products for food preparation within the food industry companies is the primary factor for the segment growth. Additionally, advantages such as longer shelf life and less microbial contamination are the factors that are contributing to frozen meat, towards the segment growth.
In terms of distribution, the processed meat sales market is bifurcated into Institutional Sales (HoReCa), Retail Sales, Supermarkets and Hypermarkets, Grocery Stores, Specialty Retailers, Online Stores. The online stores segment is expected to grow at the highest CAGR during the forecast period. The segment growth is mainly attributed owing to the rising adoption of the online channel amongst the manufacturers in order to expand their customer base.
Based on regions, the Global Proceed Meat Sales Market is fragmented into North America, Europe, Latin America, and Middle East & Africa. North America accounted for a significant share of the market in 2020 and the market in regions such as Asia Pacific (APAC) and Europe is anticipated to expand at a substantial CAGR during the forecast period. North America holds a significant share of the market during the forecast period. North America has a developed economy with a large population and a workforce that is equally large. The regional market is being pushed by rising demand for convenience foods and high-protein animal meat products.
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Key Takeaways from the Study:
- The players including BRF Global, Cargill Inc., Foster Farms, Hormel Foods Corporation, JBS SA, Perdue Farms, Pilgrim's, Sadia, and Sanderson Farms Inc. among others hold significant share of global Processed Meat market in year 2020.
- North America is a key region of the market. It accounted for a market share of 35.85% in 2020. The regional market growth is owing to the presence of prominent market players in and across the region. Additionally, the factors such as the rising preference for the processed meat are expected to foster regional market growth and development.
- In terms of storage type, the frozen segment held a considerable share of the market in 2020 and is projected to account for a substantial share of the market during the forecast period owing to growing the increasing preference for frozen meat products for food preparation within the food industry companies is the primary factor for the segment growth. Additionally, advantages such as longer shelf life, and less microbial contamination are the factors that are contributing towards the segment growth.
Read 200 Pages Research Report with Detailed ToC on "Global Processed Meat Market by Meat Type (Poultry, Beef, Mutton, Pork, Others), Product Types (Fresh-Processed Meat, Raw Fermented Meat, Raw-Cooked Meat, Pre-Cooked Meat, Cured Meat, Dried Meat, Others), Storage Types (Chilled, Frozen, and Canned), By Distribution Channels (Institutional Sales (HoReCa), Retail Sales, Supermarkets and Hypermarkets, Grocery Stores, Specialty Retailers, Online Stores), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028"
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Key Segments Covered
By Meat Types
- Poultry
- Beef
- Mutton
- Pork
- Others
By Product Types
- Fresh-Processed Meat
- Raw Fermented Meat
- Raw-Cooked Meat
- Pre-Cooked Meat
- Cured Meat
- Dried Meat
- Others
By Storage Types
- Chilled
- Frozen
- Canned
By Distribution Channels
- Institutional Sales (HoReCa)
- Retail Sales
- Supermarkets and Hypermarkets
- Grocery Stores
- Specialty Retailers
- Online Stores
By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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