Latin America Processed Meat Market

Latin America Processed Meat Market Size (2024 To 2029)

The size of the Latin America processed meat market is expected to be worth USD 0.60 billion in 2024 and grow at a CAGR of 7.72% from 2024 to 2029 to achieve USD 0.88 billion by 2029.

Processed meat utilization was in every case high, for the most part since it was constantly viewed as a result of comfort. Brazil is a significant market in Latin America. Hamburger is the most generally expended meat-type right now. As of late, the fares of processed meat from Brazil have been expanding quickly making it the world's biggest hamburger exporter.

Hamburger is the Most Preferred Type of Processed Meat. Processed hamburger is the biggest portion of the processed meat industry and records for around 40% of the overall size. The processed red meat is relied upon to perform well, basically because of the rising costs of other meat, just as the solid ubiquity of red meat in Brazil. Processed meat is generally devoured and represents 65% of the piece of the overall industry. Additionally, interest for meat items has likewise been affected by assortment, costs and administrations that the food retail firms have been offering to their clients.

Factors, for example, occupied ways of life, quick urbanization, a new way of life patterns and dietary patterns are relied upon to drive interest for advantageous, packaged and prepared to-eat foods, for example, processed meat. The development of food administration and retail ventures has expanded the inventory of prepared meat items. The interest for meat items was additionally impacted by the assortment, cost and administration that food retailers offer their clients. Individual brands will keep on keeping up their footing during the estimated time frame because of the appealing costs of comparable quality to the primary brands. As the interest for frozen food in Latin America increments, so as the demand for the processed meat market. The expanded interest for natural animals is an open door for providers to build their piece of the pie. The brand, publicizing and advancement of processed foods, for example, hamburger, meat, and so on., are a portion of the systems that are seen to overwhelm the Latin America processed meat market.

Nonetheless, the wellbeing dangers related to the utilization of processed meat can ruin market development inside the foreseen time. Worries about the danger of malignancy and coronary illness because of undesirable ways of life and high utilization of processed foods are expanding, making it hard to embrace prepared meat in the Latin American countries.

This research report on the Latin America processed meat market is segmented and sub-segmented into the following categories.

Latin America Processed Meat Market By Product Type

• Poultry
• Beef
• Lamb
• Pork

In view of product type, the market can be sectioned into poultry, pork, sheep, hamburger and other processed meat. Among various types of meat, processed poultry has been the prominent variant and is touted to show generous growth in the following years. Processed pork is another prominent variant due to the ascending need for various pork items, such as, bacon, ham and others.

Latin America Processed Meat Market By Processing Type

• Chilled
• Frozen
• Canned

Chilled processed meat section is estimated to register a huge development in the outlook period, which is credited to its ability to restrict the overall cooking time and demand from consumers in the area. The frozen processed meat is also likely to record a notable growth in the prediction period.

Latin America Processed Meat Market By Distribution Channel

• Supermarkets/Hypermarkets
• Grocery Stores
• Specialty Retailers
• Online Channels
• Others

Supermarkets/hypermarkets are estimated to have the leading portion in the regional market due to the presence of different products at one place. The online segment is envisioned to record remarkable growth in the projection period.

Latin America Processed Meat Market By Region

• Brazil
• Mexico
• Argentina
• Chile
• Rest Of Latin America

The Latin American processed meat market is topographically partitioned into Brazil, Argentina, and the rest of Latin America. Brazil processed meat market had the biggest portion in 2019, trailed by Argentina. In December 2017, fares of processed meat from Brazil expanded 26% year-on-year. As of late, Argentina lost ground in meat sends out because of interior arrangements. The lessening in buying power didn't give enough advancements and limits for Argentina's processed meat market. Chile's processed meat market has become a significant exporter of poultry as of late with solid residential interest.

KEY MARKET PLAYERS 

Major Key Players in Latin America Processed Meat Market are JBS, NH Foods Ltd, Smithfield Foods, Cargill Incorporated, ConAgra Foods Inc, National Beef Packing Company, LLC, Tyson Foods Inc, Cherkizovo Group PJSC , and OSI Group

RECENT HAPPENINGS IN THE MARKET

• Keystone Foods is a main supplier of processed meat items, for example, ports, hamburger and chicken, and has a chain of quick assistance eateries and retail channels and comfort stores that can help support force.
• Smithfield Foods gains the frozen meat business of ConAgra Food. The securing will permit the organization to grow to new areas.
• As of February 2018, Tyson Foods Inc. was centredon development and brand working to keep million-dollar brands supported by present-day and significant clients. In May, another line of breadless breakfast sandwiches, Egg'wiches, will be propelled and another egg white will be propelled for the achievement of Jimmy Dean Simple Scrambles breakfast cups.