Global Processed Meat Market by Processing Types - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2026

Global Processed Meat Market is valued to reach USD 6.5 Billion by 2020, growing at a CAGR of 6.2% over forecast period 2020-2026. High adoption of new lifestyle trends, rapid urbanization, hectic lifestyles and rising demand for ready-to-eat and packaged food such as processed meat are key factors driving the market. This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report.

Market Trends, Drivers, Restraints, and Opportunities:

  • Availability of processed meat at low prices is a key driver for the growth of the market.
  • Increase in the number of women workforce across the globe, especially in emerging countries and rise in disposable income are fueling market growth.
  • Implementation of regulations by governments on the processes used for treating meat, manufacturing of these products, and rising health concerns caused by the consumption of red meat are restraining market growth.
  • High demand for healthy food and growing adoption of vegan and vegetarian diets are hampering the growth of the market.
  • Increase in development and use of innovation meat processing technologies is creating opportunities in the market.
  • Moreover, introduction of less costly and label-friendly processed meat products by market players on e-commerce platforms is creating lucrative opportunities in the market.

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Competitive Landscape:

Major companies in the processed meat market are Advance Food Company, Cargill, ConAgra, Hormel Food Corporation, Keystone Foods, Pilgrim’s Pride Corporation, Sysco Corporation, and Tyson Foods, Inc. These companies engage in technological upgrades, acquisitions, product launches, mergers, and partnerships to gain market share. For instance, in August 2018, Tyson Food Inc. acquired six processing plants of Keystone Foods for the US$ 2.16 billion to expand its market share.

Segments Covered in the Report

The global processed meat market has been categorized based on processing types, products, distribution channels, and regions

By Processing Types

  • Canned
  • Chilled
  • Frozen

By Products

  • Beef
  • Lamb
  • Poultry

By Distribution Channels

  • Grocery Stores
  • Online Channels
  • Specialty Retailers
  • Supermarkets/Hypermarkets
  • Others

By Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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