The North America processed meat market size is expected to reach USD 34.80 billion by 2028. It is expected to expand at a CAGR of 3.5% from 2021 to 2028. The market is expected to witness considerable growth in the years to come owing to a surge in the demand for easy-to-make food items. Furthermore, increasing purchasing power, coupled with a surge in the number of working-class professionals, will drive the market over the forecast period.
The beef meat type segment accounted for the largest revenue share in the North American market in 2020. The rising demand for grass-fed beef products that have higher nutritional value is driving this segment. Poultry-based products are expected to exhibit the highest growth rate over the forecast period owing to their low cost and the shift in consumers’ preference for white meat instead of red meat.
The chilled product segment dominated the market in 2020. Chilled products, frozen at a temperature from 1°C to 4°C, are packaged under a modified or controlled atmosphere packaging to preserve them against microbial deterioration and spoilage. Increasing advancements in chilling technology have been enabling better preservation, packaging, and transportation of chilled products. This, in turn, is boosting the growth of the sector over the years.
The U.S. is one of the largest consumers of meat products in the world. Most people in the country consume some form of processed meat in their daily meals. Such consumption patterns in the country offer significant opportunities for meat processors to launch new products. In addition to this, almost all consumers are highly dependent on animal-based protein, which is also boosting the demand for the product in the country.
In February 2020, The Chefs' Warehouse, a leading distributor of specialty food products in North America, acquired Cambridge Packing Company. Cambridge Packing Company, a U.S.-based company, offers high-end beef, pork, poultry, and seafood products.
North America Processed Meat Market Report Highlights
The chilled product segment dominated the market in 2020. Chilled products, frozen at a temperature from 1°C to 4°C, are packaged under a modified or controlled atmosphere packaging to preserve them against microbial deterioration and spoilage. Increasing advancements in chilling technology have been enabling better preservation, packaging, and transportation of chilled products. This, in turn, is boosting the growth of the sector over the years.
The U.S. is one of the largest consumers of meat products in the world. Most people in the country consume some form of processed meat in their daily meals. Such consumption patterns in the country offer significant opportunities for meat processors to launch new products. In addition to this, almost all consumers are highly dependent on animal-based protein, which is also boosting the demand for the product in the country.
In February 2020, The Chefs' Warehouse, a leading distributor of specialty food products in North America, acquired Cambridge Packing Company. Cambridge Packing Company, a U.S.-based company, offers high-end beef, pork, poultry, and seafood products.
North America Processed Meat Market Report Highlights
- The poultry meat type segment is expected to register the fastest revenue-based CAGR of 4.1% from 2021 to 2028 owing to the increasing consumer preference for white meat products.
- The uncured type segment is expected to register the fastest revenue-based CAGR of 4.3% from 2021 to 2028.
- The U.S. dominated the market by accounting for over 61.0% share in terms of revenue in 2020 owing to the high consumption of the product among U.S. consumers.
- The chilled product segment held the largest revenue share of more than 65.0% in 2020.
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. North America Processed Meat Market Variables, Trends & Scope
Chapter 4. Consumer Behavior Analysis
Chapter 5. North America Processed Meat Market: Meat Type Estimates & Trend Analysis
Chapter 6. North America Processed Meat Market: Type Estimates & Trend Analysis
Chapter 7. North America Processed Meat Market: Product Estimates & Trend Analysis
Chapter 8. North America Processed Meat Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Analysis
Chapter 10. Company Profiles
List of Tables
List of Figures
Companies Mentioned
- Tyson Foods, Inc.
- Conagra Brands, Inc.
- Sysco Corporation
- Smithfield Foods, Inc.
- Perdue Farms
- Cargill, Incorporated
- JBS USA
- Hormel Foods Corporation
- National Beef Packing Company, LLC
- OSI Group
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| Published | May 2021 |
| Forecast Period | 2020 - 2028 |
| Estimated Market Value ( USD | $ 26.4 billion |
| Forecasted Market Value ( USD | $ 34.8 billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | North America |
| No. of Companies Mentioned | 10 |
