Processed Meat Market by Meat Type (Poultry, Beef, Pork, and Others), Product Type (Frozen, Chilled, and Canned), Application (Commercial and Residential), and Distribution Channel (HoReCa, Supermarkets/Hypermarkets, Convenience Stores, Independent Retailers, and Others): Global Opportunity Analysis and Industry Forecast 2021-2030.” According to the report, the global processed meat industry was estimated at $319.6 billion in 2020, and is anticipated to hit $497.1 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030.
Processed meat is prepared by converting the meat or its byproducts such as blood through fermentation, salting, smoking, curing, and other processes to enhance the taste and increase the shelf life of the meat. Red and white meat are both processed and various processed meat products include ham, bacon, sausages, hot dogs, and pepperoni. Red meat includes pork, beef, and lamb while white meat includes poultry such as chicken, turkey, and duck. Different preservatives and additives such as sodium nitrite, sodium nitrate, spices, and sodium phosphate are used in the processing of meat that adds flavor and reduces the growth of microorganisms which prevents the spoilage of food.
Download Free Report Sample@ https://www.alliedmarketresearch.com/request-sample/6968
On the basis of meat type, the poultry segment held the major share in 2020, garnering around two-fifths of the global processed meat market, due to the presence of higher protein content in the items. The pork segment, on the other hand, is expected to register the fastest CAGR of 5.1% throughout the forecast period. This is because processed pork meat has prolonged shelf life and offers high convenience to the consumers.
On the basis of product type, the frozen segment contributed to the lion’s share in 2020, holding more than two-thirds of the global processed meat market. Growing need to increase the shelf life of frozen meat products propels the growth of the segment. However, the canned segment is projected to manifest the fastest CAGR of 5.9% from 2021 to 2030, due to increasing demand for convenience food products.
By region, the market across North America dominated in 2020, garnering nearly two-fifths of the global processed market. Higher demand for ready-to-cook and ready-to-eat food products in the region boosts the market growth. Simultaneously, the Asia-Pacific region is expected to cite the fastest CAGR of 6.9% throughout the forecast period. This is attributed to rapid urbanization, rise in disposable income, and growing penetration of e-commerce in the region.
Players operating in the global processed meat market have used a variety of developmental strategies to expand their market share, focus on processed meat market opportunities, and boost market profitability. The key players profiled in this report include American Foods Group, LLC., Cargill, Incorporated, Hormel Foods Corporation, JBS S.A., Koch Foods, LLC., OSI Group, Perdue Farms, Inc., Smithfield Foods, Inc., Swiss Meat & Sausages Co., and Tyson Foods, Inc.
Hotels, restaurants, and cafes play an important role in the distribution channel of the processed meat market. But, the global lockdown, especially during the initial phase of the pandemic, disrupted the entire supply chain, thereby impacted the processed meat market negatively. Dine-in facilities were limited for customers at the restaurant chains. The cafes were completely closed, while the hotels were closed owing to travel restrictions. These factors affected the market significantly. However, as the global situation is getting better, the market is anticipated to recoup soon.
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6968
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow us on: LinkedIn Twitter