Processed Meat Market

The global market for processed meat had a value of $319.6 billion in 2022 and is projected to reach $497.1 billion by 2030, growing at a CAGR of 4.8% from 2023 to 2030.

Processed meat refers to meat that has been preserved through methods such as smoking, salting, fermenting, and the addition of chemicals to extend its shelf life and enhance its flavor. Beef, pork, turkey, chicken, and lamb are commonly used to produce various processed meat products like pepperoni, jerky, hot dogs, and sausages. Preservatives are added to protect the meat from bacterial spoilage and other organisms.

The proliferation of fast-food chains such as KFC, McDonald's, Subway, Burger King, and Taco Bell has played a significant role in driving the consumption of processed meat. Additionally, the availability of discounts and affordable meal packages offered by these chains has contributed to the growth of the processed meat market worldwide. According to the U.S. Centers for Disease Control and Prevention, approximately 37% of the American population consumes fast food on a daily basis. Hence, the increased consumption of processed meat in developed regions has bolstered market growth in the past.

By Meat Type
The meat production and supply chain were significantly impacted by the COVID-19 pandemic, with hotels, restaurants, and cafes playing a crucial role in the distribution of processed meat. Prominent fast-food chains like McDonald's, KFC, Subway, and Burger King were forced to temporarily or permanently close during the pandemic, resulting in limited dine-in options and complete closure of cafes. Additionally, travel restrictions led to the closure of hotels. Consequently, the global processed meat market suffered revenue losses due to the disruption in this important distribution channel.

The global processed meat market is categorized based on meat type, product type, application, and distribution channel. Meat types include poultry, beef, pork, and others, while product types are classified as frozen, chilled, and canned. The market is further divided into commercial and residential segments based on its application. In terms of distribution channel, the processed meat market is segmented into HoReCa (Hotels, Restaurants, and Cafes), supermarkets/hypermarkets, convenience stores, independent retailers, and others.

By Product Type
Region-wise, the processed meat market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Russia, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Egypt, and rest of LAMEA). The forecast indicates that the pork segment is expected to be the fastest-growing, driven by its nutritional benefits, appealing taste, and growing popularity among global consumers. In 2020, the poultry segment dominated the market, accounting for approximately 43.2% of the processed meat market share, owing to its affordability and nutritional advantages over red meat.

By Application
Regarding product types, the frozen segment held the largest market share at 67.9%. This growth is attributed to factors such as technological advancements that enhance the shelf life of frozen meat products, increased preference for convenience and ready-to-cook foods, and rising demand from both household and commercial sectors. In terms of application, the commercial segment dominated the processed meat market in 2020, accounting for 85.0% of the market. The commercial segment has experienced significant growth due to the popularity of fast-food chains, restaurants, and cafes such as KFC, McDonald's, Dominos, Burger King, and Yum Brands. Local-level hotels, restaurants, and cafes also play a significant role in the consumption of processed meat.

By Distribution Channel
Based on distribution channels, the HoReCa (Hotels, Restaurants, and Cafes) and supermarkets/hypermarkets collectively accounted for 70.5% of the market share in 2020, driven by their increased popularity in developed markets like North America and Europe.

Key Players
Players in the processed meat market have implemented various strategies to expand their market share, capitalize on market opportunities, and enhance market profitability. Key players mentioned 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.
Key Benefits For Stakeholders
• The report presents a quantitative analysis of current market trends, estimations, and dynamics of the market size from 2020 to 2030, enabling stakeholders to identify existing opportunities.
• Porter's five forces analysis evaluates the bargaining power of buyers and suppliers, empowering stakeholders to make profit-driven business decisions and enhance their supplier-buyer relationships.
• Comprehensive analysis of market size and segmentation helps determine prevalent market opportunities.
• The revenue contribution of major countries in each region is mapped, providing insights into their significance in the market.
• The market player positioning segment facilitates benchmarking and offers a clear understanding of the current position of market players in the processed meat industry.

Key Market Segments
By Meat Type
• Poultry
• Beef
• Pork
• Others

By Product Type
• Frozen
• Chilled
• Canned

By Application
• Commercial
• Residential

By Distribution Channel
• HoReCa
• Supermarkets/Hypermarkets
• Convenience Stores
• Independent Retailers
• Others

By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Russia
o Spain
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Rest of Asia-Pacific
• LAMEA
o Brazil
o Argentina
o South Africa
o Egypt
o Rest of LAMEA