Global Processed Meat Market Size (2024 to 2032)

As per our analysis report, the global processed meat market is expected to reach USD 13.14 billion by 2032 from USD 7.76 billion in 2024, growing at a compound annual growth rate (CAGR) of 6.8% during the forecast timeline.

Current Scenario of the Global Processed Meat Market

The processed meat market is steadily moving forward with a significant consumption rate worldwide. The rising technological developments resulted in innovative techniques for processing and preservation, such as advanced freezing methods and high-pressure processing (HPP), which are profoundly influencing the market expansion in the coming years. Moreover, Meat consumption and production have surged in the last 5 decades and it is predicted that its cultivation will continue rising to fulfill the increasing demand for animal-derived proteins. However, the market also faced competition from meat substitutes, plant-based ones, and others.

Market Drivers

The higher consumption trends drive the growth of the processed meat market. Worldwide, the production and consumption of all kinds of meat has elevated significantly and is expected to rise by an additional 50 per cent by 2050. Today, a shift in customer demographics has caused an escalation in demand for tastier and more flavourful meat choices, which propels the market forward. Even though people favour convenience foods instead of complicated meat preparations, they want varieties like bacon, sausages, ham, salami, etc., compelling brands and companies to provide offerings with new flavours and tastes. Additionally, the demand for processed meat in the market is also fuelled by the growing consumption of frozen meat products.

Market Restraints

The escalating costs impede the growth of the processed meat market. This is one of the reasons behind the declining meat consumption. For instance, people in the United States have decreased their intake of processed and red meat due to high costs, as per the results of a nationally representative survey. Industry experts also stated that price played a greater role in deciding their consumption level instead of social or environmental messaging.

Increased frequency of publishing or releasing research findings or studies about the negative impact on health by consuming meat is another factor hindering market growth. Hence, both are major restraints for market players.

Segmental Analysis

Global Processed Meat Market By Processed Type

  • Beef
  • Poultry
  • Pork
  • Mutton 

Pork spearheads this segment of the processed meat market with a notable share. It is the most eaten meat worldwide accounting for 36 per cent of the global meat consumption, as per the United Nations Food and Agriculture Organization. Moreover, the widespread appeal of pork is shortly followed by poultry, which is a main element in several nations because of its flexibility and cost-effectiveness. Further, beef, even though being a preferred food in various Western cuisines, positions 3rd in worldwide consumption owing to factors such as dietary limitations and cost.

Global Processed Meat Market By Nature

  • Organic Processed meat 
  • Conventional Processed meat

The organic segment holds the maximum proportion of the processed meat market. The consumption of organic meat has grown consistently throughout the past 20 years. A key driver for the rising segment’s market share is the customer impression that organic farm animal products usually have greater concentration levels of nutritionally desirable compounds, hence creating as well as positioning them as healthier options. However, the segment faces the challenge of emission discharge. Diary and meat made utilising free-range, pasture-raised, grass-fed, and organic methods produced higher emissions than traditional counterparts, a study finds.

Global Processed Meat Market By Form

  • Frozen
  • Canned 
  • Chilled 

The chilled segment commands this category of the processed meat market and is expected to steadily move forward during the estimation period. For instance, pork possesses a considerable position in global intake, with its worldwide consumption in 2023 standing at 115.415 million tons, on the other hand, that of chilled pork in emerging nations has surpassed 90 per cent.

Whereas, the frozen segment quickly rose in this market and is projected to expand remarkably throughout the forecast period.  This can be attributed to the

Global Processed Meat Market By Distribution Channel

  • Off-trade 
  • Hypermarkets/Supermarkets
  • Specialty stores 
  • On-trade 

The off-trade segment captured a major portion of the processed meat market share and is believed to remain relevant during the estimation period. The dominance of this segment can be credited to the heightening of sales via supermarkets and hypermarkets. Moreover, nowadays local shops and grocery marts have begun to sell this meat type which ultimately contributes to the expansion of the segment’s market size.

Regional Analysis

North America leads the processed meat market and is anticipated to remain dominant throughout the estimation period even after the increase in plant-based products. The United States commands the regional market share with meat intake continuing to be greater than the majority of places across the world. In addition, consumers in the country are still consuming more meat than ever before although the form of meat has changed over time.

Asia Pacific's processed meat market is rapidly growing driven by escalating consumer demand for ready-to-eat and comfort products. As health-aware choices take the front seat, there is a surging hunger for lower-sodium and leaner options, urging companies and makers to craft processed meat that goes in line with wellness objectives.

Recent Market Developments

  • In July 2024, Millow, a startup from Sweden recognised for minimally processed meat alternatives from mycelium and oats, received a grant of 2.4 million euros (2.6 million dollars) from the European Innovation Council (EIC) Accelerator. Also, it can have up to 15 million euros or 16.3 million dollars in the form of equity funding from the EIC Fund as part of its blended finance scheme.