North America Processed Meat Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America Processed Meat Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The North America Processed Meat Market is forecasted to reach USD 96.2 billion by 2025 growing at a CAGR of 2.7%during the forecast period (2019 - 2025).

Key Highlights

• The increasing demand for high-value animal protein, and convenience food products, which the processed meat retail firms have been offering to their customers drive North America’s processed meat market. The innovation in processing technologies has led to the introduction of diverse products in the market, thereby, ensuring a bigger consumer base. Furthermore, the rising middle-class and working women population will also boost the demand for processed meat items, as these items reduce the preparation, cooking and clean-up times.
• In the segmentation font, by product, it has been witnessed that frozen meat holds a substantial share in this market and is expected to rise due to increased usage of hotdogs & salami and greater shelf-life; followed by canned meat, which also holds a significant share with its usage in daily meals.

Key Market TrendsPoultry Meat Dominates The North American Market

The chicken poultry meat segment has the highest share in the processed poultry meat market and is expected to continue the same over the forecast period, followed by turkey meat and others. Chicken and turkey deli meats are the dominating segments in the regions as they consider them as healthier options over non-poultry meats. Furthermore, the United States is the world’s largest exporter of poultry meat and major egg producer. Changing dietary patterns and consumers preferring leaner meats/ vegetarian options has resulted in a demand for poultry meat. Additionally, a decline in the consumption of beef has also driven the market for poultry. The market is further expanded with a rise in the cost of beef. For instance, beef recorded USD 5.36 per pound whereas broiler chicken was only USD 2.03 per pound. This created an opportunity for the poultry industry to expand growth during the coming years.

United States And Canada To Drive The North America Processed Meat Market

Consumers in countries such as the United States and Canada have started opting for meat-based breakfast options, including bacon, over other breakfast options, such as pancakes, due to the changing palates and willingness to try new products. A significant percentage of the population in the United States consume bacon during breakfast time, paving the way for more foodservice outlets to introduce bacon-based breakfasts. As the meat sector is a great source of pride and prosperity to many Canadians, the government is taking initiatives to help the producers and processors of red meat mainly bacon to become more innovative and competitive in domestic and world markets. For instance, in 2016, the Governments of Canada and Manitoba invested USD 5.9 million in Maple Leaf Food’s Winnipeg-based facility to expand the bacon production by eight million kilograms every year. The strategic investment is for the purchase of new processing and packaging equipment for bacon production.

Competitive Landscape

The north america processed meat market is competitive and fragmented in nature owing to the presence of many regional and domestic players. Emphasis is given on the merger, expansion, acquisition and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. For instance, in February 2018, Tyson Foods Inc. is focused on innovating and brand building to keep its multiple billion-dollar brands that are already customer favorites contemporary and relevant. It is launching Egg’wiches in May, a new line of frozen breakfast sandwiches without the bread, plus new egg white scrambles to build on the success of Jimmy Dean Simple Scrambles Breakfast Cups. Some of the key players of the processed meat market in North American region includes BRF S.A., Cargill Inc., Cherkizovo Group, Foster Farms, Hormel Foods, Marfrig Group, National Beef, Nippon Meat Packers Inc., Perdue Farms, Pilgrim’s Pride, Sadia S.A., Sanderson Farms Inc., Shuanghui International, Smithfield Foods Inc., and Tyson Foods Inc., among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.