Global Processed Meat Market to be Worth USD 1,059.5 Billion by 2021: Technavio

Technavio has published a new report on the global processed meat market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--According to the latest market study released by Technavio, the global processed meat market is projected to grow to USD 1,059.5 billion by 2021, at a CAGR of more than 7% over the forecast period.

This research report titled ‘Global Processed Meat Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

 
Processed meat is considered to be any meat, which has been modified to either improve its taste or extend its shelf life. Cargill and Tyson Foods are the leading processed meat vendors in the global market, operating in geographically diverse locations to meet the growing global demand for meat and its products.
 

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Based on meat type, the report categorizes the global processed meat market into the following segments:

  • Poultry
  • Red meat
  • Seafood
  • Others

The top three revenue-generating meat segments in the global processed meat market are discussed below:

Poultry

“The poultry segment of the market includes processed chicken, turkey, and duck meats. The market segment is forecast to grow steadily through 2021, driven by the low cost of poultry production, growing restaurant industry, and rise in disposable income,” says Manjunath Reddy, a lead analyst at Technavio for food research.

Emerging countries such as China, Brazil, and India, are key to the growth of the market segment, with the constant increase in the consumption of processed chicken. Also, since poultry comes under the white meat category, which is considered very healthy, more people consume these products.

Red meat

Red meat includes processed meats such as beef, lamb, pork, and veal. The rising demand for pork and growing awareness of protein-based foods will lead to the steady growth of the market segment. The impressive rise in the consumption of beef will likely have the most significant impact on the growth of the red meat market segment. Beef is extremely high in protein, and vendors are addressing the safety issues, which is associated with its consumption, leading to its increased adoption in countries such as China, Brazil, and Argentina.

Seafood

The seafood segment of the global processed meat market generates close to 26% of the overall revenue. It is the healthiest source of protein in the meat category, leading to its increased adoption,” says Manjunath.

Since fresh seafood is difficult to store and cook, processed seafood has gained popularity. Leading seafood processors are currently focused on the expansion of their businesses and products across various regions. They are increasing the production capacities and widen the overall product portfolio to meet the rising consumer demand for processed seafood products.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • BRF
  • Cargill
  • Hormel Foods
  • JBS
  • NH Foods
  • Smithfield Foods
  • Tyson Foods

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global processed meat market is projected to grow to USD 1,059.5 billion by 2021, at a CAGR of more than 7% over the forecast period.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com