Global Processed Meat Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024

Global Processed Meat Market

Market Overview

Meat & poultry is a major segment of processed food where processed meat is produced by meat products from animal fat and muscle meat. Wide consumption of meat is driving the demand of processed meat globally. Rising population and increasing disposable income in emerging economies such as Latin American and Asia Pacific is bolstering the global processed meat market. However, more consumption of processed meat products leads to the risk of cardiovascular diseases and cancer responsible for lowering the demand of processed meat across the world. In 2015, as per the study performed by The International Agency for Research on Cancer (IARC), a cancer agency of the World Health Organization, mentioned processed meat as carcinogenic. The study suggests that consumption of 50gms of processed meat every day creates 18% risk of colorectal cancer.

However, due to high consumption and demand of meat, many companies are investing in processed meat business for high return of profit. For instance, in 2016, Siniora Food Industries acquired Diamond Meat Processing a UAE based company for USD 12 million. The acquisition aims to diversify and expand product portfolio of the company. Moreover, in 2016, a wholesale giant company Costco invested USD 180 million to develop its own poultry farm so that the farm can produce one-third of all its chickens including raw meat. Such investments are targeted to expand production and business opportunity of processed meat in the near future.

Market Segmentation

The global processed meat market is segmented on following basis:

Based on Processed Meat Type

• Poultry
• Red Meat ( Beef, Pork)
• Sea Food
• Others (Bacon, Dogs)

Based on Packaging

• Chilled
• Frozen
• Canned

Based on Processing Technology

• Fresh-Processed Meat
• Raw-Cooked Meat
• Pre-Cooked Meat
• Raw-Fermented Sausages
• Cured Meat
• Dried Meat

Based on Geography

• North America (U.S. & Canada)  {Market Size (USD Billion), Growth Analysis (%) and Opportunity Analysis}
• Latin America ( Brazil , Mexico & Rest of Latin America)        {Market Size (USD Billion), Growth Analysis (%) and Opportunity Analysis}
• Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) {Market Size (USD Billion), Growth Analysis (%) and Opportunity Analysis}
• Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Size (USD Billion), Growth Analysis (%) and Opportunity Analysis}
• Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Size (USD Billion), Growth Analysis (%) and Opportunity Analysis}
•  Rest of World {Market Size (USD Billion), Growth Analysis (%) and Opportunity Analysis}

Market Size and Forecast

Poultry segment which includes duck, chicken and turkey is the fastest growing segment and is accounted for 40% revenue share of processed meat in 2016. Moreover, high demand of protein enrich food is likely to increase the adoption rate of seafood segment of processed meat. The global processed meat market is anticipated to reach USD 1740.1 billion by 2024, growing at a CAGR of over 14% during the forecast period of 2016 to 2024.

Asia-Pacific is the fastest growing region for processed meat market due to rising demand for high value protein food and booming retail industry. Latin America is also expected to grow at a notable CAGR during the forecast period. Increasing consumption of processed chicken in emerging economies such as China, India and Brazil is expected to propel the growth of Asia-Pacific processed meat market over the forecast period. Growing demand of processed meat countries such as South Africa, Saudi Arabia and the UAE is likely to drive Middle East and Africa processed meat market.

North America is expected to dominate the processed meat market due to high production of processed meat by volume in the region. North America region held 38% revenue share of processed meat market in 2016. Europe is estimated to witness steady growth for processed meat market. However, increased awareness related with health risk due to consumption of processed meat is expected to hamper the demand and consumption rate in Europe.

Market Drivers and Challenges

Availability of large varieties of processed meat at affordable rate is driving the growth of processed meat market mainly in developing countries. Increasing disposable income and rising consumer awareness about animal protein rich diet is also boosting the demand of processed meat across the globe. Rising demand of easy-to-cook mainly among urban population is also one of the major driving the growth of the global processed meat market.

Increasing obesity level due to high intake of processed food is the main factor which is hampering the adoption rate of processed meat. Rising health awareness and shift towards healthy lifestyle is lowering the demand of processed meat. Processed meat contains high level of fats and moderate level protein, however high demand of protein rich and fat free processed meat is limiting the growth of processed meat market.

Key Market Players

• Cargill Inc.
  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis
• Tyson Foods
• Gulf Food Industries
• National Food Co.
• Hormel Foods
• Smithfield Foods
• NH Foods
• BRF S.A.

Scope Background

Market Synopsis

Market Segmentation

The Global Processed Meat Market is segmented as follows:

• By Processed Meat Types (Market Size, Demand Analysis and Growth Analysis)

• By Packaging Types (Market Size, Demand Analysis and Growth Analysis)
• By Processing Technology Types (Market Size, Demand Analysis and Growth Analysis)

By Regions

• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}

• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors

• Regional Variations
• Recent Trends and Developments

Key Market Players

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks