Europe Processed Meat Market – Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Europe Processed Meat Market – Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Europe Processed Meat Market is projected to register a CAGR of 3.2% during the forecast period (2022-2027).

The processed meat industry has been affected by the COVID-19 pandemic. The virus outbreak has occurred in factories operated by the meatpacking industry and the poultry processing industry. These outbreaks affected dozens of plants, leading to closures of some factories and disruption of others, and posed a significant threat to the meat supply. However, consumers tend to consume processed meat due to its health benefits, and the supply of processed meat through online channels has boosted the market.

Processed minced beef has increased its share of the total beef volume sold, probably due to its lower price and versatility in contemporary dishes. The increasing popularity of cooking sauces, especially pasta sauces, is a major reason for the increase in mince’s share of beef sales. Also, factors like changing lifestyles, demand for convenience food, and an increase in disposable income are contributing to the growth of the processed meat market in Europe. Consumers increasingly demand ready-to-eat and ready-to-cook meat products with better taste and quality. Increasing consumer awareness and acceptance of the convenience of meat products is an important factor driving the market's growth.

The increasing awareness about the risks associated with using nitrate for curing purposes in processed meat has enabled manufacturers to replace nitrate with other curing agents, like celery powder, to achieve the same effect. Such factors are registering a significant demand for nitrite-free processed meat products such as bacon products in the European countries and providing a great platform for the players to meet the growing demand by launching guilt-free bacon (nitrite-free bacon) through various retail channels.

Europe Processed Meat Market TrendsPremiumization Driving Demand Through Online Retail

The processed meat sector in Europe at present and over the forecast period is expected to be driven by product premiumization, where meat consumption remains a popular inclusion across different palates. However, shortly, the less but better concept is likely to creep in, where the overall quality over quantity mindsets are prevalent in the market. The approach is particularly strong among health-conscious and flexitarian consumers, where the success of premium processed meat products is anticipated to scale up amid the meat reduction trends in the region. The growing preference for premium processed brands, especially through online retail channels, is one of those key factors driving the market.

Russia's Stronghold Position in the Processed Meat Consumption

Driven by the dynamic food industry in Russia, which is assertive and balanced, while developing new products that address the demands of the domestic and export markets, the processed meat market in Russia is expected to witness significant growth. On a comparative note, Russia still has the lowest prices in accordance with EU-28, where overall, Russians spend less than 12% of their income on food and beverages. On the other hand, the same set of consumers eats approximately 17.2 kg of processed meat annually, which is one of the highest in the European region.

Europe Processed Meat Market Competitive Analysis

The Europe Processed Meat market is highly competitive with some of the key players in the European processed meat market, including BRF S.A., Cargill Inc., Cherkizovo Group, Foster Farms, Marfrig Group, Nippon Meat Packers Inc., and Tyson Foods Inc. among others. Thus, the major players are embarking on product development as one of their key strategies to achieve consolidation and optimize their offerings. Moreover, players are increasing their regional presence through acquisitions and expanding their capacities. Technological inputs have been at the forefront, leading many regional players to improvise and advance in this competitive industry. For instance, in Russia, the Cherkizovo Group launched a robotized dry sausage plant near Kashira.

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