Processed Meat Market Size, Share, Growth Analysis, By Type, By Packaging, By Meat Type, By Distribution Channel, By Region - Industry Forecast 2024-2031

Global Processed Meat Market size was valued at USD 302.88 billion in 2022 and is poised to grow from USD 319.02 billion in 2023 to USD 474.71 billion by 2031, at a CAGR of 5.06% during the forecast period (2023-2031). 

Globally, the global processed meat market has witnessed substantial growth in recent years. Meat is termed processed when it is preserved by smoking, salting, fermenting, or adding any chemical to increase its shelf-life and improve its flavor. The industry is being driven by rising use of packaged food and drinks. To improve the flavor and keep the attributes of these meat products, processes such as salting, curing, and smoking are utilized. Consumption of ready-to-eat food items has grown as a result of the fast-paced lifestyle and expanding paid worker population, which is projected to boost market growth. However, sales of processed beef are projected to skyrocket in the near future. This is because of a shift in customer purchasing habits. Due to the pandemic scenario, most countries are in lockdown, and various government organizations have established various laws regulating the acquisition of necessities. Furthermore, these laws and restrictions have influenced consumer purchasing habits. People prefer processed foods because they take less time to prepare, which will help the processed meat industry develop over the next two years. Variable meat preservation techniques have resulted in a significant increase in demand for fresh processed meat. To accommodate the fast-paced city lifestyle, urban customers choose Processed Meat. The time necessary to prepare raw meat and then serve it will continue to benefit the rise of processed meat demand.