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The processed red meat market share is expected to increase by USD 159.98 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.95%.
This processed red meat market research report will help companies evaluate their business approaches. Furthermore, this report extensively covers processed red meat market segmentation by product (processed pork, processed beef, processed lamb, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa).
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The processed red meat market report also offers information on several market vendors, including American Foods Group LLC, Aurora Packing Co., BRF SA, Cargill Inc., Cremonini SpA, Dawn Farm Foods Ltd., Dawn Meats, Foyle Food Group Ltd., Hormel Foods Corp., Itoham Yonekyu Holdings Inc., JBS SA, Koch Foods LLC, MS Global Food CO. WLL, National Beef Packing Co. LLC, NH Foods Ltd., PJSC Cherkizovo Group, Sunbulah Group, Sysco Corp., Tyson Foods Inc., and WH Group Ltd. among others.
Technavio categorizes the global processed red meat market as a part of the global packaged foods and meats. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the processed red meat market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the processed red meat market encompasses successful business strategies deployed by the key vendors. The processed red meat market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The processed red meat market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
The increasing demand for convenience foods is notably driving the processed red meat market growth, although factors such as health hazards diminishing demand may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the processed red meat industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Processed Red Meat Market Driver
One of the key factors driving the global processed red meat market growth is the increasing demand for convenience foods. With changing lifestyles and a rise in disposable income, the demand for these products has increased globally. The demand is fueled by the rising e-commerce culture and the easy availability of food products. The manufacturers of processed red meat are focusing on the pork as a category and making it available in different forms, such as chilled, frozen, and canned. In addition, vendors operating in the global processed red meat market are increasingly opting for joint ventures and partnerships with local red meat manufacturers, distributors, and technology providers to increase the availability of processed red meat to consumers in developed and developing regions. For instance, in June 2021, Hormel Foods Corp. announced the acquisition of the Planters snacking portfolio from the Kraft Heinz Company. Such factors will drive the market growth during the forecast period.
Key Processed Red Meat Market Trend
One of the key processed red meat market trends is the growing emphasis on packaging innovations. The innovative packaging also helps in increasing the shelf life of products and makes them more durable. With a rise in technological advances in packaging, companies are increasingly emphasizing innovative packaging technologies, such as MAP (modified atmosphere packaging), Vacuum Packaging, and Vacuum Skin Packaging. For instance, Tyson Foods Inc. uses vacuum packing for various fresh and frozen meat products. These types of packaging maintain the freshness and increase the shelf life of processed red meat (from 2-4 days to 2-5 weeks). Similarly, high-pressure processing (HPP) is used by Tyson Foods Inc. and Hormel Foods. Such innovations are expected to further support market growth in the coming years.
Key Processed Red Meat Market Challenge
One of the major factors that are expected to hamper the growth of the global processed red meat market is the various health hazards associated with the consumption of processed red meat. According to the World Health Organization (WHO) International Agency for Research on Cancer (IARC), the consumption of red meat and processed meat has a carcinogenic effect on humans. Thus, consumers across regions are shifting their focus to healthier as well as vegan alternatives to red meat. Since 1970, the per capita beef consumption in the US has declined by about 30%, according to the United States Department of Agriculture as beef production has a higher carbon impact on the environment than other red meat production. Such factors may hamper the growth of the market in focus during the forecast period.
This processed red meat market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
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30% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for processed red meat in APAC. However, market growth in this region will be slower than the growth of the market in other regions.
The significant increase in the sale of packaged products, such as beef and fresh pork in countries such as China, Japan, South Korea, and the Philippines will facilitate the processed red meat market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
Our report provides extensive information on the value chain analysis for the processed red meat market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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The processed red meat market share growth by the processed pork segment will be significant during the forecast period. The growth is attributed to the significant increase in the number of M and A (mergers and acquisitions) in the market and product launches in the segment in focus.
This report provides an accurate prediction of the contribution of all the segments to the growth of the processed red meat market size and actionable market insights on post COVID-19 impact on each segment.
Meat market - The market share is expected to increase by USD 190.29 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.7%.
Meat Snacks market - The market share has the potential to grow by USD 4.14 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 8.16%.
Pork Meat market - the market size has the potential to grow by 16.29 million tons during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
Camel Meat market - The market share is expected to increase by USD 74.5 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.26%.
Processed Red Meat Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.95% |
Market growth 2022-2026 |
$ 159.98 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.89 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 30% |
Key consumer countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
American Foods Group LLC, Aurora Packing Co., BRF SA, Cargill Inc., Cremonini SpA, Dawn Farm Foods Ltd., Dawn Meats, Foyle Food Group Ltd., Hormel Foods Corp., Itoham Yonekyu Holdings Inc., JBS SA, Koch Foods LLC, MS Global Food CO. WLL, National Beef Packing Co. LLC, NH Foods Ltd., PJSC Cherkizovo Group, Sunbulah Group, Sysco Corp., Tyson Foods Inc., and WH Group Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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