The global processed meat market is expected to be valued at USD 349.5 billion in 2023. The advent of new home delivery models has driven market growth and is expected to become a game changer during the forecast period.
The overall demand for processed meat is projected to grow at a CAGR of 6.5% between 2023 and 2033, totaling around 634.5 billion by 2033.
| Data Points | Key Statistics |
|---|---|
| Processed Meat Market Value 2023 | USD 349.5 billion |
| Processed Meat Market Projected Value (2033) | USD 634.5 billion |
| Processed Meat Market CAGR (2023 to 2033) | 6.5% |
The variable meat preservation techniques have resulted in the voluminous growth in the demand for fresh processed meat. To suit the fast-paced city life, urban consumers prefer eating Processed Meat. The time required to cook raw meat and then serve it is likely to continue to opportunely aid the growth in demand for processed meat.
Furthermore, hot dogs and other processed meat products are expanding in prominence in the global food sector, creating ample growth opportunities for Processed Meat. Processed Meat is widely accepted as the ideal fast-food product and is popular among the working class of society. The global processed meat market is expected to witness an upsurge due to existing fast-food practices' dominance.
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The global demand for processed meat is projected to increase at a CAGR of 6.3% during the forecast period between 2023 and 2033, reaching a total of USD 605.14 billion in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 6.5%.
Ever since WHO classified processed meat as Group 1, carcinogenic to humans, the global leaders in freshly processed meat manufacturing have faced ultimatums with context to their production capacity. Nevertheless, the companies are expected to boost the demand by developing advanced processing that renders the product meat harmless and prevents post-consumption stomach ailments.
Owing to the increasing number of meat eaters and growing demand for a protein-based diet, the demand for processed meat is projected to experience significant growth over the forecast period.
Expansion of Fast-Food Chains in Developed Regions is Likely to Fuel Processed Meat Market Growth
The rapid expansion of fast-food chains such as Subway, KFC, McDonald’s, Burger King, and Taco Bell has had a noteworthy influence on mounting processed meat consumption. Furthermore, the discounts and affordable meal packages by these fast-food chains considerably contributed to the growth of the processed meat market across the globe.
As per the report published by the United States Centre for Disease and Control Prevention report, nearly 37% of Americans consume fast food regularly. Consequently, augmented consumption of processed meat in established regions has fostered market growth in recent years.
The growing income of the urbanized population has fueled the demand in the global market for processed meat. Additionally, the busy urban life has resulted in consumers opting for convenient food that does not expend more time for cooking or preparation.
Increasing Obesity Levels & Unhealthy Lifestyle May Impede the Market Expansion
The rising preference for consuming ready-to-eat meat is considered the key factor driving the growth of the global processed meat market. However, several factors are restraining the growth of the processed meat market.
For instance, the consumption of processed food products triggers the upsurge of cholesterol and fat levels in the body, forcing the consumer to live an unhealthy lifestyle. Rising obesity levels are generating more awareness about the drawbacks of processed food consumption, thereby hampering the demand for processed meat.
The mounting rise in the number of meat-eating consumers has alarmed processed meat manufacturers. To meet the brimming demand, the process of retaining the freshness of the meat is hampered, which consequentially affects the impending demand.
Rising Consumption of Seafood Products is anticipated to Act as a Primary Growth Driver
In terms of regional platforms, North America held a significant market share in the processed meat market in 2022. The region is expected to surge to over 33.3% share in 2023 and is projected to emerge as the second-largest market over the forecast period due to its preference for printing by thermal label manufacturers. The United States & Canada account for the majority share of the regional revenue contribution.
The augmented popularity of seafood products such as salmon owing to its omega-3 fatty acids, which provide health benefits and high protein-low fat for diet-conscious consumers, is also propelling the growth.
In addition, there is an augmented demand for farm-raised seafood attributed to the ever-changing preference for sustainable farming and its environmental benefits. For instance, in August 2020, the Norway-based salmon farming and processing giant Mowi added a United States-centric seafood brand to its portfolio.
Upward trends such as product launches, campaigns, mergers & acquisitions led to enlarged product offerings by the manufacturer and growth in overall sales. According to a report by the American Frozen Food Institute (AFFI) in 2021, consumer spending on frozen food spiked in April, and the frozen seafood sales category witnessed a spike of 19.1% through the first quarter of 2020 compared with the same period of 2019. Such facts likely to bode well with the future market growth
Increasing Shift towards Protein-enriched Food is Likely to Put Europe at the Forefront of Processed Meat Market
According to Future Market Insights, the Europe region provided immense growth opportunities for Processed Meat in 2021 and is expected to emerge as the dominant region, accounting for nearly 39.6% in 2023. The United Kingdom, France, Germany, and Spain dominated the European market. Demand in the region is expected to rise owing to new product introductions and increasing awareness of organic products.
This market growth is attributed to shifting consumer diet preferences in countries such as Luxembourg, Netherlands, and Belgium. Key consumers of poultry, seafood, chicken, and eggs in Germany belong to millennial groups.
According to preliminary figures in Germany, the overall degree of self-sufficiency in meat was 121% for 2021, which is an elevation of 2.5 percentage points. In the case of poultry, 96.7% of domestic demand can be covered by domestic production. The self-sufficiency rate for pork is 132.4% and for beef and veal, 98.2%.
The mounting consumer segment of millennials and the elevation in awareness for protein-enriched food among its citizens are projected to drive the demand in the country over the forthcoming period.
The Increasing Popularity of Online Food Delivery Platforms is Likely to Rev Up Sales of Processed Meat in the Coming Years
As per the recent analysis by Future Market Insights, Asia Pacific is anticipated to be the dominant growing region over the forecast period. The increasing per capita income and the swelling demand for salmon and other seafood products in addition to meat and poultry principally characterize this region.
Countries such as India, China, Indonesia, the Philippines, and Thailand have observed rapid growth in terms of industrial and trade activities.
The emergence of new home delivery models has also fuelled market growth and is likely to become a game changer throughout the forecast period. Several prominent supermarkets and companies in the market are teaming up with e-commerce retailers or launching their online delivery portals for at-home delivery services.
For instance, in October 2021, Licious, an India-based startup offering fresh meat and seafood products online, raised USD 52 million in new financing funding and became the first direct-to-consumer startup to attain unicorn status and claimed that it had grown over 500% in the previous year 2020.
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The global processed meat market is bifurcated into Type, Packaging, Meat type, and regions. Based on the meat type segment, the poultry type section captured the highest share in 2022 owing to their low cost and preferential shift of customers toward white meat instead of red meat. This segment is expected to be the dominant segment of the processed meat market during the forecast period.
The pork and beef processed meat market growth is likely to be adversely influenced because of the research output of the International Agency for Research on Cancer (IARC). It declares that the consumption of red meat could cause cancer in humans. The results were backed by strong mechanistic evidence.
In the processed meat industry by packaging type of processed eat, the frozen processed category is likely to hold a larger market share, especially in GCC, as it includes outstation workers; who compete for protein without much spending. As such, hot dogs and packaged products based on salami are in great demand.
Many prominent market players in the processed meat market are working hand-in-hand to provide the best-in-class Processed Meat for enhancing the global analytics arena. However, many global start-ups in the Processed Meat market are stepping forward to match the requirements of the Processed Meat domain.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.5% from 2023 to 2033 |
| Market Value in 2023 | USD 349.5 billion |
| Market Value in 2033 | USD 634.5 billion |
| Base Year for Estimates | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Packaging, Meat type, Region |
| Regions Covered | North America; Latin America; Europe; The Asia Pacific; The Middle East and Africa |
| Key Countries Profiled | The USA, Canada, Brazil, Mexico, Germany, The UK, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | JBS; NH Foods Ltd; Smithfield Foods, Inc.; Cargill Incorporated; ConAgra Foods Inc.; National Beef Packing Company, LLC; Tyson Foods Inc.; Cherkizovo Group PJSC; OSI Group |
The global processed meat market is valued at USD 349.5 billion in 2023.
The processed meat market is set to reach USD 634.5 billion by 2033.
The rising demand for plant-based alternatives and increased emphasis on clean-label ingredients.
Hamburgers, fried sausages, kebabs, and chicken nuggets.
JBS, NH Foods Ltd, Smithfield Foods, and Cargill are key players.
| Estimated Size, 2025 | USD 8.3 billion |
|---|---|
| Projected Size, 2035 | USD 12.4 billion |
| Value-based CAGR (2025 to 2035) | 4.1% |
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