The Processed Meat Market Is Predicted To Reach 1140.42 USD Billion With A CAGR Of 14.2% According To Market Data Forecast Report.

The Processed Meat Market Is Predicted To Reach 1140.42 USD Billion With A CAGR Of 14.2% According To Market Data Forecast Report.

ID: 871 | October 2018 | Region: Global

The Processed Meat Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Processed Meat Market is estimated to be 587.13 USD billion and predicted to rise to 1140.42 USD Billion with a CAGR of 14.2%. The market is segmented Processing Technology (Fresh-Processed Meat, Raw-Cooked Meat, Pre-Cooked Meat, Raw-Fermented Sausages, Cured Meat, Dried Meat), by Meat Type (Poultry, Beef, Pork and Mutton). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

The market is driven by several aspects such as increasing population and rise in demand and consumption of treated food, new technological improvements, and government funding. The increasing challenge and competitiveness in this market has led to product and packaging advancement which caters to occasion specific consumption which plays an important role in brand strategies for growth of the market. Conversely, personal health worries and the mad cow panic led to the vegetarianism trend all over the globe.

Poultry segment accounts for the highest share for the processed meat market. It is also anticipated to be the most attractive section during the course of the forecast period due to increasing health awareness among customers. Frozen processed meat products such as hot dogs and salamis are very popular among the younger generation across the globe.

North America is the dominant market accounting for highest share of the market. Growth is particularly high in the Asia-Pacific countries such as China, India and Japan due to the increasing awareness about the processed meat and this will in turn rise the demand for the meat processing equipment, thereby persuading this industry.

Key players in the processed meat market include Tyson Foods, Cargill Inc., Gulf Food Industries, Sunbulah Group, BRF S.A., Cherkizovo Group, National Food Co., Hormel Foods, Marfrig Group and Sanderson Farms Inc.

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