Processed Meat Market

Processed Meat Market Outlook (2023 to 2033)

From 2023 to 2033, worldwide processed meat consumption is forecasted to increase at a steady 4.5% CAGR. Presently, the global processed meat market accounts for a value of US$ 335 billion and is estimated to attain a revenue valuation of US$ 519.8 billion by 2033-end.

Eating habits and lifestyles have changed drastically in the past couple of decades and these changes have resulted in the high demand for processed foods across the world. Globalization and the growing popularity of different types of cuisines have resulted in higher consumption of different types of meat.

Changing consumer preferences, high availability of processed foods, hectic lifestyles, growing working women population, rising per capita disposable income, advancements in freezing technology, and increasing demand for fresh meat from the health-conscious population are key factors that are slated to promulgate processed meat demand through 2033.

Sausage making, dry aging beef, and meat curing are some of the popular processes used to obtain processed meats. Meat curing salt is anticipated to witness high demand in the future as sales of cured meats increase globally.

Increasing demand for halal and kosher meat products around the world is anticipated to create a highly opportunistic setting for established as well as incoming processed meat companies over the next ten years. Processed meat manufacturers are also focusing on launching new products such as ham cold cuts, dry-aged beef, salami cold cuts, deli meats, etc., with new flavours to increase their sales potential.

On the flip side, the growing popularity of veganism and rising consumption of plant-based foods are expected to hurt sales of processed meats throughout the forecast period. Moreover, the increasing availability of plant-based meats is also anticipated to impede market development in the future.

A detailed and comprehensive analysis of all the key prospects influencing market development on a regional and global level have been profiled in this revised processed meat market research survey by Fact.MR, a market research and competitive intelligence provider.

Report Attributes	Details
Processed Meat Market Size (2023)	US$ 335 Billion
Projected Market Value (2033F)	US$ 519.8 Billion
Global Market Growth Rate (2023 to 2033)	4.5% CAGR
Organic Segment Market Growth Rate (2023 to 2033)	8% CAGR
Germany Market Share (2022)	~25%
United States Market Growth Rate (2023 to 2033)	4.1% CAGR
Key Companies Profiled	ConAgra Foods Inc.; Cargill Meat Solution Corp.; JBA SA; SYSCO Corp.; OSI Group; Hormel Food; WH Group; Smithfield Foods Inc.; Danish Crown A/S; Harim Co Ltd.; BRF SA; Tyson Foods Inc.; Cherkizovo Group PJSC

How is the Growing Muslim Population Influencing Demand for Processed Meats?

“High Demand for Halal Meat Opening Up New Opportunities for Companies”

The Muslim population across the world has increased at a rapid pace and this has resulted in high demand for halal meat, which means meat that is obtained by slaughtering the animal as instructed in Islam. All the meat products sold in the Middle Eastern region and North African region are mostly halal owing to the presence of a high Muslim population.

Demand for halal-certified meats and foods has been rapidly increasing in Europe and Asia Pacific where the Muslim population is rising at a fast pace. Processed meat suppliers can take this opportunity and provide halal-certified meats to increase their business potential in the aforementioned regions as the demand for halal meat is expected to grow over the coming years.

• In October 2022, Yonezo Arita, a local cattle producer based in Japan along with three other farmers formed a new company called Scrum Export Meat Miyazaki Co. The company announced plans of constructing a halal-certified meat plant in Saito, Miyazaki Prefecture, intending to expand exports of Miyazaki prefecture’s beef to Muslims around the world.

Which Companies are Changing the Way Meat is Consumed?

“Lab-grown Meat Companies Redefining Meat Industry”

Ethical concerns about meat consumption have led to the inception of lab-grown meats and this is a trend that could completely change the processed meat industry landscape forever in the future. Aspiring processed meat companies are focusing on developing new technologies and techniques to create meat in the most efficient way possible.

• Upside Foods, a food technology start-up recently won approval from the Food and Drug Administration (FDA) of the U.S. to sell lab-grown meat to the public. This is the first time that a company has been approved to sell lab-grown meat with a Generally Recognized as Safe (GRAS) label from the FDA.
• In December 2022, Orbillion Bio, a cultivated beef start-up announced its partnership with Solar Biotech, a tech company to scale its production capacity. This new partnership will allow Orbillion to produce up to 4 million pounds of meat per year in the future.

Country-wise Insights

How Will New Breakfast Trends in the U.S. Alter Demand for Processed Meats?

“Growing Preference for Pork & Bacon in Breakfast”

Bacon has become a breakfast staple in the United States in recent years and this trend is projected to be rife over the coming years as well. Changing dietary preferences of the people in the United States have resulted in high demand for processed pork meat especially for breakfast since they are high in protein and more filling than other breakfast alternatives.

Increasing availability of different types of processed meats, high consumer spending potential, and establishment of new restaurants and cafes serving different types of processed meats. Processed pork and processed beef are anticipated to witness a robust demand outlook in the U.S. going forward. Over the next ten years, processed meat shipments are slated to rise at 4.1% CAGR in the United States.

Should Processed Meat Suppliers Invest in Japan?

“Increasing Westernization of Japanese Diet to Provide New Growth Opportunities”

The traditional Japanese diet consists mostly of seafood as a source of protein but this trend is now changing as the younger population of the country is veering toward other meats such as pork, beef, and lamb. The country is the second-largest importer of meat in the Asian region following China as the largest. Dietary preferences of the average Japanese have been changing owing to the increasing influence of the Western culture and this is expected to open up new opportunities for local as well as international processed meat suppliers going forward.

Processed beef and pork are relatively cheaper than seafood and this price gap is also a decisive factor that is projected to boost demand for processed meats in Japan through 2033. Pork meat, poultry meat, bovine meat, and other meat preparations accounted for more than 85% of meat imports in 2019 and a similar trend is expected to be observed across the forecast period.

Which Country Accounts for High Processed Meat Consumption in Europe?

“Germany Accounts for Substantial Processed Meat Demand”

A high migrant population and increasing consumption of convenience foods are prime factors that are expected to boost processed meat demand in Germany over the coming years. The increasing preference of the millennial population for snacking and immediate consumption is also a major factor that is projected to drive market development in the country.

In 2022, Germany accounted for a little over 25% market share in the European region. Chicken nuggets are expected to be a popular processed meat snack in Germany and drive demand for processed poultry meat through 2033. Demand for organic processed meats is expected to flourish in Russia throughout the forecast period.

Sausage making and salami making are anticipated to be highly popular processes being used to manufacture processed meats in European countries such as Italy and the United Kingdom.

Category-wise Insights

Why is Organic Processed Meat Witnessing a Hike in Demand?

“Rising Awareness of Benefits Associated with Organic Processed Meat Consumption”

Based on nature, the market for processed meat is segmented into organic and conventional.

Demand for organic food products has witnessed a notable upsurge in the past few years as awareness regarding their benefits is increasing and this trend is true for organic processed meat as well. More people are now aware of the benefits that come with consuming organic meat products and how they can be beneficial in avoiding major health risks. Demand for organic processed meats is forecasted to increase at a high CAGR of around 8% from 2023 to 2033.

Competitive Landscape

Processed meat suppliers are focusing on diversifying their product portfolio by launching new aged meat cuts, dry-aged beef, sausages, and cured meats.

• In March 2022, Makro introduced its dry-aged Australian beef offering at Makro Food Service Sukhumvit 22 Branch, Thailand. The new product was launched especially to cater to beef aficionados.
• In December 2022, Carrefour, a retail organization headquartered in France partnered with a young Emirati chef Aysha Al Obeidli, to create a unique premium butchery experience with innovative recipes using the finest of ingredients. The new range of meat comprises dry-aged wagyu, Black Angus, Angus, and Japanese Angus.
• In December 2022, Black Angus Steakhouse, a restaurant chain in the U.S. since 1964 announced the launch of its new direct-to-consumer premium meats program through its online portal. Consumers will now be able to order high-quality steaks and cook them on their own at home.

Key Segments of Processed Meat Industry Research

• By Product Type :

  • Beef
  • Pork
  • Poultry Meat
  • Sheep Meat

• By Form :

  • Fresh
  • Frozen
  • Shelf Stable

• By Nature :

  • Organic Processed Meats
  • Conventional Processed Meats

• By Application :

  • Food Processing Industry
  • Food Service Industry

• By Sales Channel :

  • Hypermarkets/Supermarkets
  • Traditional Grocery Stores
  • Convenience Stores
  • Discount Stores
  • Online Retail Stores
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA