Processed Meat Market Analysis APAC - Size and Forecast 2024-2028

APAC Processed Meat Market Size 2024-2028

The APAC Processed Meat Market size is projected to increase by USD 146.7 billion at a CAGR of 13.7% between 2023 and 2028. The increasing demand for convenience foods, driven by changing lifestyles and busy schedules, is driving market growth by increasing the demand for processed meat products that offer quick and easy meal solutions. The easy accessibility through distribution channels, driven by improvements in distribution networks and retail infrastructure, is also boosting market expansion by making products more readily available to consumers. Additionally, the high demand for protein-rich products, driven by growing health awareness and the popularity of high-protein diets, is driving market growth by increasing the consumption of these products as a convenient source of protein.

Market Overview

The Market shows an Accelerated CAGR during the forecast period.

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Market Segmentation

By Product 

The frozen product type in the market has witnessed significant growth in 2023. Frozen items like frozen burgers, sausages, and nuggets are famous among consumers in the APAC. Frozen chicken nuggets, frozen pork sausages, and frozen beef burgers are instances of popular frozen items in APAC. These items are not only suitable, but they also provide constant quality and taste, making them a popular choice among consumers. Thus, the frozen category is likely to drive the growth of the market during the forecast period.

By Application 

The market share growth by the commercial segment will be significant during the forecast period. The commercial category contains restaurants, fast-food companies, hotels, catering services, and food service suppliers. Comfort, flavor consistency, and customer choices for quick, ready-to-eat meals fuel commercial demand for processed meats.

The commercial segment was valued at USD 94.30 billion in 2018.

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In the market, processed meat products extensively represented in the commercial sector include burger patties, pizza toppings, hotel buffets, and catering services. Furthermore, the commercial sector's sustained growth, fueled by the region's growing food service industry and changing consumer lifestyles, places it as a critical application segment within the market. This will drive the growth of the market during the forecast period.

Market Dynamics

The market is influenced by factors such as the use of acidifiers, minerals, salts, and seasonings as flavoring agents in various meat products. With a growing demand for convenience foods due to hectic lifestyles and rising disposable incomes, the market for processed meat-based products is expanding. However, concerns about obesity and the presence of bacteria and other organisms in processed meats are challenges. Regulatory measures and strategic decisions regarding packaging type and material are key considerations for companies operating in this market. The market is witnessing significant growth due to the increasing popularity of protein-rich diets and the convenience offered by processed meat products. Food processing technologies such as high-pressure processing and freezing techniques are extensively used to enhance the shelf life of these products. The retail sector and institutional sector are major consumers of processed meat, with the food service industry and fast-paced lifestyles driving demand for ready-to-eat food products. Meat products like sausages, bacon, ham, and hot dogs are popular processed meat items. Processing techniques such as salting, curing, smoking, and glazing are used to enhance the taste and texture of these products. Flavored meat products, including those infused with herbs, marinades, and seasonings, are gaining popularity among millennials. The umami taste, a savory and delicious flavor, is a major factor driving the demand for processed meat products. The market is expected to grow further due to the increasing trend of using natural ingredients and clean labeling in processed meat products. Packaged food products and beverages are also witnessing an increase in demand, as consumers prefer convenient and easy-to-consume options.

Key Market Driver

Increasing demand for convenience foods is the key factor driving the growth of the market. The market players are selling convenience food products like nuggets, fresh sausages, hotdogs, platters, sandwiches, and salami. The manufacturers are concentrating on making it available in different forms, such as chilled, frozen, and canned. These strategic decisions are aimed at maximizing revenue impact through innovative packaging types and materials, as well as the use of various seasoning and flavoring agents.

Moreover, in addition, market players are increasingly opting for joint ventures and collaborations with local meat manufacturers, distributors, and technology providers to grow the availability of these among consumers. Thus, the growing demand for convenience foods will raise the availability of products in APAC, thereby driving the growth of the market during the forecast period.

Significant Market Trends

Growing emphasis on packaging innovations is the primary trend shaping market growth. The market players use creative packaging to stay in the competition in the market. Besides attracting consumers, innovative packaging supports raising the shelf life of products and makes them more durable. However, with a peak in advancements in packaging, companies are increasingly concentrating on innovative packaging technologies, such as MAP (modified atmosphere packaging), vacuum packaging, and vacuum skin packaging.

Moreover, the increasing demand for such innovative packaging solutions may encourage more market players to come up with new packaging solutions, which would attract consumers and expand the customer base. This is a key factor that will propel the market during the forecast period.

Major Market Challenge 

Health hazards associated with processed meat is a challenge that affects the growth of the market. The growing awareness about the health implications of consuming red meat has restricted the consumption of meat and processed meat, thereby affecting the growth of the market. According to the World Health Organization's (WHO) International Agency for Research on Cancer (IARC), the consumption of meat and processed meat has a carcinogenic effect on humans. Therefore, consumers across regions are shifting their emphasis to more beneficial as well as vegan options for meat.

As a result, consumers are shifting to plant-based products, which are choices to processed meat. This shift is anticipated to have a negative impact on the adoption of these products, which may impede the growth of the market during the forecast period.

Market Company Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Key Offering- Al Aali Exports Pvt. Ltd: The company offers processed meat such as buffalo carcass, buffalo veal meat, offals, and mutton.
• Key Offering- Al Kabeer Exports Pvt. Ltd.: The company offers processed meat such as buffalo meats, offals, and muttons.
• Key Offering- Allanasons Pvt. Ltd.: The company offers processed meat such as frozen buffalo meat, chilled vacuumed packed buffalo meat, and chilled lamb carcasses.

The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• BRF SA
• Cargill Inc.
• Charoen Pokphand Foods PCL
• FRESHTOHOME FOODS Pvt. Ltd.
• IB Group
• Itoham Foods Inc.
• JBS SA
• Mirha Exports Pvt. Ltd.
• MK Overseas Pvt. Ltd.
• NH Foods Ltd.
• Prabhat Poultry Pvt. Ltd.
• Suguna Foods Pvt. Ltd.
• Suzannes Food
• The Meat Products of India Ltd.
• Tyson Foods Inc.
• VH Group
• VISSAN

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments

• Application Outlook 
  • Commercial
  • Residential

• Product Outlook 
  • Frozen
  • Chilled
  • Canned

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• Edible Meat Market Analysis India - Size and Forecast

Market Analyst Overview

The market is driven by various factors, including the growing demand for white meat products like swine, cattle, and sea animal meat. Changing consumer lifestyles and an increase in disposable income have led to a rise in the consumption of convenient foods such as Turkey, pepperoni, jerky, and hot dogs. The market is influenced by fast food trends and the presence of large restaurant chains. With a diverse product pipeline, the market offers fresh processed meat, frozen meat, chilled meat, canned meat, dried/semi-dried meat, and fermented meat in various forms, including organic and conventional options. Packaging plays a crucial role, with products available in trays, pouches, boxes, and cannisters made from materials like plastic, glass, paper/cardboard, and metal. Both household and food service sectors, including supermarkets, drive the market, which is subject to market regulations and product approvals to ensure nature and safety.

Protein-Rich Diets and Food Processing Processed meat, including sausages, ham, bacon, and various other meat products, have gained significant popularity in today's fast-paced lifestyles. The shift towards protein-rich diets and dietary habits has fueled the demand for processed meat in various sectors such as the retail sector, institutional sector, and food service industry. Food processing technologies like high-pressure processing and freezing techniques have extended the shelf life of these meat products, making them easily accessible to consumers. Retail sales of processed meat have seen a steady increase, with online platforms becoming a popular choice for consumers seeking convenience. Healthier meat options, such as reduced-fat and reduced-sodium processed meat, have gained traction in recent years, catering to the growing health-conscious consumer base. Premium meat options, including cured meat, dried meat, chilled meat, and frozen meat, continue to dominate the market due to their nutritional value and muscle building properties. Poultry, beef, mutton, and pork are the primary sources of processed meat. Fresh processed meat, raw fermented meat, raw cooked meat, pre-cooked meat, and canned meat are some of the popular processed meat categories. Food processing technology plays a crucial role in enhancing the nutritional value of these meat products while maintaining their taste and texture. Additives, such as preservatives and flavor enhancers, are used in the production of processed meat to improve their shelf life and taste. The market for processed meat is expected to continue its growth trajectory, driven by the increasing popularity of protein-rich foods and the convenience they offer to consumers.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2028
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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