Dublin, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The "Global Processed Meat Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
This report offers a deep insight into the industry's expected growth and trends through the forecast period of 2024-2030. The report accentuates the market's significant expansion, including a compound annual growth rate (CAGR) of 4.83% during the noted years. The study reveals that the processed meat market is anticipated to escalate to a market size of US$ 575.7 billion by 2030, with a cumulative increase from a valuation of US$ 413.75 billion in 2023. This growth trajectory is attributed to a host of factors, including evolving consumer preferences, the demand for convenient meal options, and the influence of Western dietary patterns on global consumption.
Market Segmentation and Dominant Sectors
The report meticulously segments the processed meat market by meat types, where the poultry sector demonstrates dominance due to its worldwide consumption. Such products as chicken and turkey are favored for their affordability and adaptability, catering to a range of culinary preferences. When categorized by processed types, frozen processed meats seize a significant portion of market revenue. Frozen items have become staple products due to their convenience, ensuring prolonged preservation and uncomplicated storage options for consumers. In terms of distribution channels, the study projects an uptick in the patronage of online retail stores. The change towards virtual shopping is supported by the easy access and diverse selection online platforms offer, emphasizing the impact of digital transformation on the industry.
Regional Market Insights and Future Outlook
The report also presents a thorough geographical analysis of key regions. China, in particular, is expected to experience substantial growth in the processed meat sector. The nation's rising demand for quick-service food, together with a burgeoning processed meat production industry, positions China as a central figure in the global landscape.
Competitive Landscape and Key Market Players
The processed meat market landscape is highly competitive, with key players such as Hormel Foods, Tyson Foods, Conagra Brands Inc., and others actively participating. These companies are recognized for their extensive product portfolios and innovative developments, which have considerably bolstered their market standings.
- Hormel Foods
- Tyson Foods
- Conagra Brands Inc.
- General Mills
- Nestle
- Cargill Incorporated
- WH Group
- BRF SA
The processed meat market analysis includes comprehensive profiles, recent developments, and revenue analysis for these leading companies. These insights underscore the strategic initiatives and growth tactics employed by market incumbents to consolidate their positions in the processed meat industry. The research also underscores the significant impact of consumer health awareness and the increasing preference for organic and naturally preserved meat products. This paradigm shift is fostering innovations across the industry, with players vying to meet consumer expectations for healthier meat options. This study provides invaluable knowledge for stakeholders across the processed meat value chain, including industry executives, investors, policymakers, and regulatory authorities. The insights offered put emphasis on the market's growth potential, driven by technological advancements, strategic market initiatives, and shifting consumer demands.
Industry Trends and Developments
The report delves into the various industry trends and developments shaping the global processed meat market, including a heightened emphasis on food safety, sustainable production practices, and environmental considerations. The influence of inflation and other economic variables on market dynamics has also been assessed, providing a realistic view of the processed meat market environment. In conclusion, the global processed meat market report stands as a crucial resource for analyzing market potential, guiding strategic decisions, and identifying growth opportunities within this dynamic industry.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $413.75 Billion |
| Forecasted Market Value (USD) by 2030 | $575.7 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/xyp3g
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