DUBLIN--(BUSINESS WIRE)--The "Processed Meat Market, Global Forecast, Impact of COVID-19, Industry Trends by Meat Type, Region, Opportunity Company Overview, and Revenue" report has been added to ResearchAndMarkets.com's offering.
According to this report the global processed meat market size was $484.29 Billion in 2020.
Companies Mentioned
- Hormel Foods
- Tyson Foods
- Conagra Foods Inc
- General Mills
- Nestle
- JBS SA
Worldwide, the adoption of a fast-paced life has initiated a new trend of Processed Meat consumption. More extended working hour's leaves limited time for young adults to have a home-cooked meal. So the demand for ready-to-eat and ready-to-cook meat products with better taste and quality is rising. The rising popularity of international cuisines further drives the processed Meat market. The rapid expansion of online and organized retail across the globe creates a positive outlook for the Processed Meat market. Along with this, numerous quick-service restaurant (QSR) chains, restaurants and hotels, and various retail and convenience stores offer different products that comprise processed meat as the key ingredient. The increased consumer perception and acceptance regarding the convenience of meat products thriving food sector around the world providing an impetus to the market growth. Global Processed Meat Market is estimated to grow US$ 784.87 Billion by 2027.
The processed meat industry includes poultry, Red Meat, Seafood and Others. Poultry is expected to pose the highest growth rate due to its low cost and preferential shift toward white meat instead of red meat. According to the International Agency of Cancer Research for Cancer (IARC), consumption of red meat is likely to cause cancer in humans; therefore, awareness regarding the ill effects of red meat is fueling the demand for white meat. The frozen processed category holds a larger market share, as consumers can store the food easily, such as hot dogs; packaged products based on salami food are in great demand worldwide.
North America is one of the highest consumers of processed meat products in the world. Most people in the United States and Canada have started opting for processed meat in their daily meals. Moreover, almost all consumers are highly dependent on animal-based protein, which boosts the country's demand for the processed meat product. The processed meat market in the Asia Pacific is expected to grow considerably in the forecast period. The availability of discount coupons, efficient advertising, and availability of a wide range of brands under one roof are the growth factors of Online Retailers, Specialist Retailers and Convenience Stores which huge demand for process meat in the country like China, India and Japan. Global Processed Meat Growth rate will be CAGR of 7.14% during 2020-2027.
The COVID-19 pandemic impacted on supply chain, meat production and meat prices that caused a severe socio-economic crisis worldwide. Initially, meat and meat products' prices increased due to less production and increased demand because of panic buying. Multiple industry players such as Hormel Foods, Tyson Foods, Conagra Foods Inc, General Mills, Nestle, and JBS SA focus on expanding their production capacity by pursuing mergers and acquisitions as a key market strategy. In May 2021, Meat Processing Giant Tyson Foods Introduces New Plant-Based Products amid Green washing Concerns.
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Processed Meat Market
6. Global Processed Meat Market Share Analysis
6.1 By Meat Type
6.2 By Processing Type
6.3 By Distribution Channel
6.4 By Region
7. By Meat Type- Global Processed Meat Market
7.1 Poultry
7.2 Red Meat
7.3 Seafood
7.4 Other
8. By Processing Type - Global Processed Meat Market
8.1 Frozen
8.2 Canned
9. By Distribution Channel - Global Processed Meat Market
9.1 Online Retailers
9.2 Specialist Retailers
9.3 Convenience Stores
9.4 Independent Retailers
9.5 Supermarket/ Hypermarket
10. By Region - Global Processed Meat Market
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 ROW
11. Key Players Analysis
For more information about this report visit https://www.researchandmarkets.com/r/6sgpem
