Oct 17, 2024
Blog Food and Beverage The Processed Meat Market: Global Insights and Forecast
Processed meat's simplicity, long shelf life, and adaptability have become a mainstay in diets worldwide. In many countries, processed meats—from hot dogs and sausages to bacon and deli meats—are consumed in large numbers. Growing urbanization, shifting consumer tastes, and advancements in food processing technology are driving the global market for processed meat.
"Processed Meat" describes meats salted, cured, smoked, or treated with chemical preservatives. Deli meats, salami, hot dogs, ham, bacon, and sausages are a few examples. Before refrigeration became widely used, these preservation techniques were created to improve flavor and extend shelf life. Because they are now readily accessible and mass-produced, processed meats provide a convenient source of protein for people with hectic schedules.
The processed meat market is expected to experience steady growth over the next few years. According to BCC Research, the processed meat market is expected to grow from $318.2 billion in 2023 to $ $429.1 billion by the end of 2029 at a compound annual growth rate (CAGR) of 5% during the forecast period of 2024 to 2029.
North America, Europe, and the Asia-Pacific area are important contributors to this expansion. Processed meat has long been a staple of diets in established nations like the United States and Western Europe. Still, demand is growing quickly in emerging nations like China and India due to increased disposable incomes and a trend toward Westernized eating habits.
The estimated market size of the processed meat market will be $429.1 billion by 2029, with a CAGR of 5.0%.
Despite its growth, the processed meat market faces several challenges. Health concerns about the consumption of processed meat—linked to higher risks of heart disease, cancer, and obesity—pose a significant barrier. The World Health Organization (WHO) has classified certain processed meats as carcinogenic, raising public awareness about potential risks. This has driven some consumers toward plant-based or organic alternatives.
Moreover, sustainability concerns are growing. Meat processing is resource-intensive, contributing to greenhouse gas emissions and water usage. This has increased interest in plant-based meat substitutes and lab-grown meats, which could challenge the traditional processed meat market.
Despite obstacles posed by environmental and health concerns, the processed meat sector is adjusting by emphasizing innovation. Businesses are moving toward sustainable practices and looking into healthier products, such as low-fat or nitrate-free solutions. The market for clean-label and organic processed meat is also growing, appealing to consumers concerned about their health.
The market for processed meat is expected to continue expanding globally, but it will need to change to accommodate shifting consumer tastes and sustainability issues. Businesses investing in new product development, healthier substitutes, and label transparency stand a good chance of prospering in this competitive market.
The global market for processed meat is expected to rise significantly as demand is driven by affordability and convenience. However, future success will depend on balancing the growing demand for healthier and more sustainable products and consumer desires for convenience and taste. Despite growing worldwide consumption and a changing industry landscape, the processed meat market continues to be a vibrant and essential segment of the global food business.
Consider becoming a member of the BCC Research library and gain access to our full catalog of market research reports in your industry. Not seeing what you are looking for? We offer custom solutions too, including our new product line: Custom Intelligence Services.
Contact us today to find out more.
Sandeep is a Senior Executive in Marketing Operations at BCC Research, proficiently serving as a graphic designer and content creative specialist. His expertise extends to AutoCAD and Revit, and he has made valuable contributions to the event industry with his design skills.
Introduction: Seaweed extracts, derived from marine algae are gaining popularity...
As the global demand for meat, dairy, and other animal products grows, the need ...
In recent years, the global food industry has experienced a significant transfor...
We are your trusted research partner, providing actionable insights and custom consulting across life sciences, advanced materials, and technology. Allow BCC Research to nurture your smartest business decisions today, tomorrow, and beyond.
Contact UsBCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts assess growth opportunities, market sizing, technologies, applications, supply chains and companies with the singular goal of helping you make informed business decisions, free of noise and hype.