PUBLISHER: Market Research Future | PRODUCT CODE: 1714183
PUBLISHER: Market Research Future | PRODUCT CODE: 1714183
Report Information on Europe, South America & Middle East Processed Meat Market Research Report by Type (Turkey & Beef, Bacon, Lunchmeat, Pepperoni, Hot Dogs, Pancetta, and Others), Product Type (Frozen, Chilled, and Canned), by Application (Residential and Commercial), by Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online, and Others) Forecast to 2032
It is anticipated that the processed meat market in Europe, South America, and the Middle East will grow at a compound annual growth rate (CAGR) of 5.0% during the forecast period, reaching a value of USD 240.88 billion in 2032. In 2023, the market was valued at USD 154.35 billion.
In 2023, the European processed meat market was valued at USD 131.42 billion. It is anticipated to expand at a compound annual growth rate (CAGR) of 4.95%, reaching USD 204.44 billion by 2032. In 2023, Europe dominated the processed meat market, with lunchmeat being the most commonly consumed form. This expansion is driven by a variety of factors, such as the growing demand for convenience foods and the growing popularity of processed meat due to its perceived health benefits. The increasing recognition of health concerns associated with conventional curing agents has prompted manufacturers to explore alternative methods, such as celery powder, for curing. This change has increased the demand for processed meat products that are free of nitrites, such as guilt-free bacon, in various European countries. JBS, Tyson Foods, and Cargill are among the main players in the competitive landscape, and they are concentrating on strategic acquisitions and product development to improve their market presence. The market is fiercely competitive, with a diverse array of participants, including large multinational corporations and small and medium-sized enterprises.
The Europe, South America, and Middle East Processed Meat Market is further divided into Turkey & Beef, Bacon, Lunchmeat, Pepperoni, Hot Dogs, Pancetta, and Others based on the type.
The market is segmented into frozen, refrigerated, and canned categories based on the type of product.
The market is segmented into residential and commercial segments based on application.
The market is segmented into supermarkets/hypermarkets, convenience stores, online, and others based on the distribution channel.
The processed meat market is segmented into Europe, South America, and the Middle East based on region. In 2023, the Processed Meat Market was dominated by the Europe region, which held an 85.14% share. However, the South America region is anticipated to experience the most significant growth, with a compound annual growth rate (CAGR) of 5.53% during the forecast period.
Danish Crown (Denmark), JBS S.A. (Brazil), Hormel Foods Corporation (US), WH Group Ltd. (Sweden), Vion Group (Netherlands), Tyson Foods, Inc. (US), Kaminiarz (Poland), Ferrarini S.P.A. (Italy), Nestle SA (Herta) (Switzerland), and Marfrig Global Foods SA (Brazil), among others.