According to Technavio’s latest market research study, the global processed meat market is expected to grow at a CAGR of more than 7% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global processed meat market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the meat type
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The top three revenue contributing meat segments are discussed below
Global processed poultry market: The processed poultry meat market includes the processed meat of chicken, turkey, and ducks. The growth of the global market for processed poultry is attributable primarily to the low cost of poultry production given the high feed conversion rate. Furthermore, poultry comes under the white meat category, which is considered healthier for consumption than red meat, thereby propelling its demand in the global market.
“The growing restaurant industry worldwide, particularly in the fast-food and fast-casual dining segments, and the higher disposable income of households during the forecast period is likely to translate to market growth,” says Manjunath Reddy, a lead analyst at Technavio for research on food.
Global processed red meat market: The red meat segment includes processed meats like beef, lamb, pork, and veal. The growth of the global processed red meat market in the coming years is likely to be fueled by the rising demand for pork in Europe and growing consumer awareness of protein-based foods.
Global processed seafood market: Fresh seafood is difficult to cook, because of which processed seafood has gained popularity. Leading seafood processors are focusing on the expansion of their businesses and products across various regions to increase the production capacities and widen the overall product portfolio. During 2015, China accounted for over 36% of global fish production. Other major producers include Indonesia, the US, Russia, Japan, Vietnam, and India.
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The top vendors operating in the global processed meat market are:
- BRF
- Cargill
- JBS
- Hormel Foods
- NH Foods
- Smithfield Foods
- Tyson Foods
Other prominent vendors in the market include AdvancePierre Foods, ConAgra Foods, FLANDERS PROVISION, Keystone Foods, National Beef Packing, OSI Group, Sysco, and The Schwan Food Company.
A more detailed analysis is available in the Technavio report titled, ‘Global Processed Meat Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Processed Meat Market in the US 2016-2020
- Global Meat and Poultry Processing Equipment Market 2017-2021
- Meat Poultry and Seafood Packaging Market in the US 2016-2020
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