New York, USA , June 07, 2022 (GLOBE NEWSWIRE) -- A new report on the global meat products market has been added by Research Dive to its repository. According to the report, the global market is projected to surpass $387.6 billion by 2030, rising at a CAGR of 3.95% from 2022 to 2030. This report is an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
Factors Impacting the Meat Products Market Growth
The key factor boosting the growth of the global meat products market is the rising demand for ready-to-eat meat products that are not only rich in nutrition owing to their high protein content and low cholesterol & calorific values but also tasty and flavorful. Moreover, growing number of people preferring ready-to-eat meat products owing to their busy work schedules and hectic lifestyles is projected to open doors to lucrative opportunities for the growth of the market in the forecast period. However, health related concerns, such as fear of acquiring diseases like cancer with the frequent consumption of processed meat products, and growing popularity of vegan diets among people are expected to hinder the market growth.
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Impact of COVID-19 Pandemic on the Meat Products Market
The abrupt rise of COVID-19 pandemic in 2020 has had an adverse impact on the growth of the global market. The implementation of lockdown ceased the functioning of restaurants, cafes, and hotels across the world. Moreover, there has been a significant decline in the production of meat products owing to problems in the supply of raw meat due to disruptions in supply chains during the crisis period. All these factors are greatly hampering the growth of the market amidst the pandemic period. However, as the pandemic situation is relaxing, the production , as well as demand for ready-to-eat meat products, is surging. This is likely to fuel the meat products market growth post-pandemic period.
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The report segments the global meat products market into processed meat type, meat type, packaging, and region.
Hamburgers Meat Products Sub-Segment to Hold a Leading Market Position
The hamburgers meat products sub-segment of the processed meat type segment is expected to grow considerably and garner $169.7 billion during the forecast period. This growth is chiefly owing to the widespread popularity and demand for hamburgers among young consumers worldwide.
Pork Meat Products Sub-Segment to Observe Highest Growth
The pork meat products sub-segment of the meat type segment is anticipated to hold a leading market share and hit $149.5 billion during the forecast period. This growth is chiefly owing to the rising consumption of pork meat products as they are tasty and contain loads of nutrients.
Chilled Meat Products Sub-Segment to Experience Dominant Growth
The chilled meat products sub-segment of the packaging segment is anticipated to observe leading growth and garner $219.9 billion during the forecast period. This is chiefly owing to the rising purchases of chilled meat products as they are safe to consume owing to their low temperature which prevents the growth of harmful microorganisms and bacteria in the meat products.
Europe Meat Products Market to Observe Speedy Growth
The report analyzes the global meat products market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Europe region market is estimated to observe noteworthy growth and hit $142.6 billion in the forecast period. The growth of the region market is mainly because of the growing demand for processed meat products that are rich in protein and rising disposable income of people in this region.
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Key Meat Products Market Players
The report lists some of the leading players functioning in the global meat products market including
- Hormel Foods Corporation
- Minerva Foods SA
- Conagra Brands Inc.
- JBS S.A.
- NH Foods Ltd.
- Clemens Food Group
- Sysco Corporation
- Cargill, Incorporated
- Tyson Foods
- BRF S.A., and many more.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry.
For instance, in April 2022, Prasuma, a foremost chilled meat & frozen food product maker in India, launched a new range of snacks including frozen mutton and chicken shammi kababs, chicken nuggets, veg and chicken mini samosas, frozen veg and chicken spring rolls, and mutton and chicken seekh kababs and bacon to its frozen food product line. With this launch, Prasuma aims to enhance its presence and ranking in the global meat products market.
More about Meat Products Market:
- Product Launches and Strategic Partnerships by Market Players such as Clemens Food Group, Tyson Foods, and Others to Foster the Growth of the Global Meat Products Market
- Meat Products: The Source of Essential Amino Acids, Vitamins, and Minerals
