The processed meat market in Europe, South America, and the Middle East was valued at USD 154.35 billion in 2023, and it is expected to rise at a CAGR of 5.0% over the forecast period, reaching USD 240.88 billion in 2032.
The European processed meat industry was valued at USD 131.42 billion in 2023 and is predicted to increase at a CAGR of 4.95% to USD 204.44 billion by 2032. Europe held the largest proportion of the processed meat market in 2023, with lunchmeat being the most popular type. This expansion is driven by a number of causes, including rising consumer demand for convenience foods and the growing popularity of processed beef due to its purported health benefits. Growing knowledge of health risks associated with traditional curing agents has prompted manufacturers to innovate by employing alternatives such as celery powder for curing. This move has increased demand for nitrite-free processed meat products across Europe, including guilt-free bacon. Major firms such as JBS, Tyson Foods, and Cargill dominate the competitive environment, focusing on product development and strategic acquisitions to increase market penetration. The market is very competitive, with a variety of participants ranging from small and medium-sized firms to major international corporations.
Market Segmentation
The Europe, South America, and Middle East Processed Meat Market is classified into Turkey & Beef, Bacon, Lunchmeat, Pepperoni, Hot Dogs, Pancetta, and Others.
The market is divided into three product types: frozen, chilled, and canned.
The market is segmented into two areas based on application: residential and commercial.
The market is divided into four distribution channels: supermarkets/hypermarkets, convenience stores, online, and others.
The processed meat market is segmented by region: Europe, South America, and the Middle East. In 2023, Europe accounted for 85.14% of the Processed Meat Market, while South America is predicted to develop the fastest, at a CAGR of 5.53%.
Key Players
Major players market players are 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.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook