Authored By: Sarah
11 Jul 2024

 Processed Red Meat Market Size to grow by USD 131.2 billion between 2024-2028

According to a research report “ Processed Red Meat Market” by Product (Processed pork, Processed beef, Processed lamb, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 131.2 billion, at a CAGR of  4.98% during the forecast period. In today's fast-paced world, convenience foods have gained significant traction due to their ease of preparation and ready-to-eat nature. With increasing disposable income and changing lifestyles, there has been a notable surge in demand for these products. The e-commerce sector and the convenience of having food delivered to one's doorstep have further fueled this trend. In the processed meat industry, vendors are capitalizing on this trend by offering convenience food items such as nuggets, fresh sausages, hotdogs, platters, sandwiches, and salami. Pork is a dominant segment in the processed red meat category, with China being a major consumer. Processed red meat manufacturers are strategically focusing on expanding their pork offerings in various forms, including chilled, frozen, and canned, to cater to the evolving consumer preferences.

Browse market data tables, figures, and in-depth TOC on “Processed Red Meat Market” by Product (Processed pork, Processed beef, Processed lamb, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Product, the Processed pork segment is projected to dominate the market size in 2024

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By Geography, APAC  segment is expected to hold the largest market size for the year 2024

The processed pork market is experiencing significant growth, driven by a surge in mergers and acquisitions (M&A) and new product launches. Key players in the industry are increasingly focusing on strategic M&A activities to strengthen their supply chains in low-cost production regions, thereby enhancing their capacity to produce high-quality packaged meats. Sausages, ham, bacon, salami, smoked, dried, and canned pork products are in high demand, fueled by the rising global production, exports, and consumption of pork meat. This trend is expected to continue during the forecast period, making the processed pork market an attractive investment opportunity for businesses.

APAC is forecasted to hold the largest market size by region in 2024

The processed red meat market represents a significant sector within the global food industry. Key players in this market include Tyson Foods, JBS S.A., and Hormel Foods Corporation. These companies leverage advanced processing techniques to produce a wide range of products, including bacon, sausages, hot dogs, and ham. Consumer preferences for convenience and affordability continue to drive market growth, with increasing demand in emerging economies. However, health concerns related to red meat consumption may pose challenges to market expansion.

The Processed Red Meat Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • American Foods Group LLC
  • Aurora Packing Co.
  • BRF SA
  • Cargill Inc.
  • Cremonini SpA
  • Dawn Farm Foods Ltd.
  • Dawn Meats
  • Foyle Food Group Ltd.
  • Hormel Foods Corp.
  • Itoham Yonekyu Holdings Inc.
  • JBS SA
  • KOCH FOODS INC.
  • MS Global Food CO. WLL
  • National Beef Packing Co. LLC
  • NH Foods Ltd.
  • PJSC Cherkizovo Group
  • Sunbulah Group
  • Sysco Corp.
  • Tyson Foods Inc.
  • WH Group Ltd.
.

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Research Analysis Overview

The processed red meat market is witnessing significant growth due to the increasing demand for affordable meal packages, particularly from fast-food chains. Sausages, hot dogs, pepperoni, lamb, chicken, pork, and beef are popular processed meat products that cater to various dietary preferences. Herbs and flavors are added to create an array of flavored meat products, appealing to the millennial population's taste buds. Processed meat undergoes various techniques such as smoking, curing, salting, and high-pressure processing to enhance taste and extend shelf life. Ready-to-eat food products have gained popularity due to their convenience, making the retail sector a significant contributor to the industry applications. Beverages and packaged food products often include processed meat as an ingredient, further expanding the market's reach. Dietary habits shifting towards protein-rich diets have boosted the demand for processed meat. Food processing technologies like freezing techniques ensure the preservation of nutritional value and texture, making processed meat a staple in many households. Overall, the processed red meat market is expected to continue its growth trajectory, driven by consumer preferences and technological advancements in food processing.

Market Research Overview

The processed red meat market is experiencing significant growth in the current era of food delivery platforms and e-commerce, driven by the convenience offered by smartphones and internet technology. This market includes a wide range of products such as beef jerky, bacon, and various flavored meat products made from livestock like beef, lamb, chicken, and pork. The use of genetically modified organisms, fertilizers, chemical pesticides, animal feed, and additives in meat production is a subject of debate, with some consumers preferring organic meat. The market caters to both residential and commercial consumers, including convenience stores, cafes, restaurants, hotels, and the food service industry. Ready-to-eat and ready-to-cook food products, such as hot dogs, pepperoni, shawarma, and Mediterranean cuisines, are popular choices. Processed meats, including red meat, have been linked to health concerns such as colorectal cancer. The World Health Organization classifies processed meats as carcinogenic to humans. As a result, there is a growing demand for healthier meat options, including reduced additives, reduced sodium, reduced fat, and premium meat options. The market includes various meat products like ham, sausages, and pre-cooked meat, as well as raw-cooked meat and raw fermented meat. The meat processing industry uses various techniques like smoking, curing, salting, and marinades made from spices, seasonings, and herbs to enhance the umami taste. The millennial population's dietary habits and changing lifestyle preferences, including work-life balance and environmental concerns, are also influencing the market's growth. The industry applications include the HoReCa sector, retail sales, and the institutional sector. The market's shelf life is extended through freezing techniques and high-pressure processing.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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