Leading players in the processed meat market are emphasizing the emerging halal markets, in addition to increased production to cater to upsurge in demand.
ROCKVILLE, MD / ACCESSWIRE / March 16, 2020 / High demand for dry, cured meat is increasing the market for processed meat. Projecting the market growth at a moderate CAGR of 3.6%, a new Fact.MR study provides an inclusive analysis of the processed meat market. Predominant factors attributing to this increasing demand include the advances in freezing technology, and growing mass adoption of fast-paced lifestyle.
Processed Meat Market - Key Takeaways
- Beef and pork remain the sought-after meat types, with collective 80% value share in market.
- Europe will remain the leading regional market for processed meat, accounting for a third of total demand.
- Market would witness a steady growth outlook in Middle East & Africa (MEA) in the near future
- Household and residential buyers account for 3/5th of total processed meat consumption.
- Supermarkets and hypermarkets will continue channeling more than 50% of worldwide sales.
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Processed Meat Market - Key Driving Factors
- Technological intervention for extended shelf-life of processed meat is favoring the market growth.
- Improved trade scenario of processed meat to distant regions is significantly contributing towards the growth of market.
- Processed meat befits the escalating demand for easy accessibility and convenience, which remains a major market growth driver.
- Increasing preference for halal meat across developing economies of Asia Pacific (excluding Japan), Middle East, and Africa is bolstering market growth.
Processed Meat Market - Key Constraint
The expanding veganism trend and rising concerns regarding colorectal cancer continue to challenge rapid growth of processed meat industry.
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The key players in the processed meat market are Cargill Inc, JBS SA, WH Group Limited, Sysco Corporation, and Hormel Food Corporation among others. The leading players are trying to explore the emerging economies where the demand for halal meat is proliferating. Further, the players are forming strategic partnerships with other brands, and are setting up processing facilities to cater the production demands.
About the Report
This 170-page study offers readers a comprehensive market forecast of the processed meat market. Global, regional and country-level analysis of the latest industry trends impacting the processed meat market is covered in this Fact.MR study. The report offers compelling insights on processed meat market on the basis of product type (beef, pork, poultry, and sheep), form (fresh or chilled, frozen, and shelf-stable), nature (organic and conventional), buyer type (food processor & manufacturer, HoReCa sector, household & residential buyers), sales channel (traditional grocery stores, supermarket/hypermarket, internet retailing, convenient store/forecourt retailers, discounters, and other sales channels) across seven regions (North America, Latin America, Europe, CIS & Russia, Japan, APEJ, and MEA).
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