Investment in improving food industry infrastructure is likely to drive the growth of processed meat market: Proper infrastructure plays an important role in maintenance, process, distribution, and waste management of processed meat. In 2009, the United States Department of Agriculture invested nearly 1 billion for 6 years to improve food business infrastructure in the region. Moreover, emerging economies such as China and India are also investing to improve food processing units and infrastructures. These initiatives are expected to increase the production and expand the business of processed meat across the globe.
The global processed meat market is segmented on the basis of processed meat type, by packaging type and by processing technology type. Packaging of processed meat is further segmented into chilled processed meat, frozen processed meat, canned meat. Among these segments chilled processed meat occupies the largest market share due to the increasing demand of quick and instant meal and the segment is expected to register healthy growth during the forecast period. Moreover, high demand of preserved or frozen food is likely to drive frozen processed meat market in the near future.
Poultry segment from processed meat is the largest segment and accounts for nearly 38% of the market share in 2016. Although declining rate in consumption of processed beef due to health risk is expected to hamper the business mainly in mature market like North America and Europe. However, Cured meat is widely consumed and this segment accounts for the largest market share based on processing technology of processed meat.
Geographically, Asia-Pacific is the fastest growing region for processed meat market due to increasing consumption rate of processed food in the region. Asia-Pacific processed food market valued USD 134.2 billion in 2016, and is expected to grow at a CAGR of 16% over the forecast period i.e. 2016-2024. Rising disposable income and increasing demand of processed food in countries such as China and India is anticipated to expand processed meat business in the region.
Secure and Fresh Solution for Packaging: MAP technology
Modified atmosphere packaging for processed meat is an innovative solution which maintains the moisture level of processed meat for longer period of time. Modified atmosphere packaging (MAP) technology obstructs the growth of micro-bacteria in processed meat and leads to long-lasting freshness of processed meat. This technology is rapidly transforming the demand of processed meat and is expected to enhance the processed meat business in the near future.
“Global processed meat market Outlook 2024” contains detailed overview of the global processed meat market in terms of market segmentation by processed meat type, by packaging type and by processing technology type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.
This market report also includes provides competitive outlook of some of the major players of the global processed meat market which includes profiling of companies National Food Co., Hormel Foods, Tyson Foods, Cargill Inc. etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global processed meat market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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