Global Processed Meat Market 2016-2024
As per the new market report on the global Processed Meat market, by the end of 2024, the global market for such meat will cross USD 11740.1 billion. On the other side, during the forecast period, i.e., from the year 2026 to 2024, the Compound Annual Growth Rate will be around 15 % One of the primary factors that are prominently triggering the global market growth is the availability of various types of processed meat at lower prices in different developing countries.
On the other side, the growing disposable income levels of people and rising awareness among people about protein-rich healthy diets are also propelling the demand for processed meat throughout the globe. Furthermore, rising demand for easy-to-cook foods in urban areas is also an essential factor that will propel the growth of the Processed Meat market across the world. It has been noted that the demand for packaged and frozen foods throughout the world has increased owing to the product’s availability. So, this can also support market growth.
The rising level of obesity due to the high consumption of processed food is the primary factor that is negatively affecting the adoption of the Processed Meat consumption rate. Apart from this, increasing awareness about maintaining a proper healthy, healthy diet and healthy lifestyle is also reducing the demand for such meat in the global market. In general, such meat comes with high fats and low protein. So, rising demand for fat-free and protein-rich food products is also expected to limit the market growth during the forecast period.
Top Key Players:
- Cargill Inc.
• Tyson Foods
• Gulf Food Industries
• National Food Co.
• Hormel Foods
• Smithfield Foods
• NH Foods
• BRF S.A.
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Market Segmentation Overview:
The global Processed Meat market is segmented on the basis of meat type, packaging, processing technology, and the regions. Based on the meat type, red meat, poultry, seafood, bacon, and others. The poultry segment is anticipated to cover the largest market share as the consumption level for poultry meat is increasing rapidly. On the basis of packaging, it is divided into canned, frozen, and chilled. The chilled and frozen segment is now ruling the market. Now talking about processing technology-based market segmentation, the Processed Meat market is segmented into pre-cooked meat, raw-cooked meat, dried meat, raw-fermented sausages, cured meat, and fresh-processed meat.
Regional Market Segmentation Overview:
The global Processed Meat market, based on regions, is segmented into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Besides, the global market further segmented on the basis of the country. It is split into Canada, the US, Mexico, Brazil, France, Spain, the United Kingdom, Poland, Italy, Sweden, Japan, Singapore, India, China, Australia, New Zealand, South and North America, and more. As per the latest market report, the Asia Pacific’s regional market will emerge as the fastest-growing region owing to the increasing demand for protein-rich food and expanding the retail industry. However, North America is forecasted to dominate the market.
In 2016, Siniora Food Industry successfully acquired a UAE-based meat processing company, Diamond Meat Processing, to expand the company’s product portfolio.
Costco, a leading wholesale company in the world, invested around USD 180 to USD 190 million to set up a poultry farm. It is helping farmers in producing one-third of all the chickens, including raw meat.
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