New York, March 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Processed Meat Global Market Report 2022" - https://www.reportlinker.com/p06244986/?utm_source=GNW
A., Koch Foods, Marfrig, National Beef Packing Company LLC, Sanderson Farms, Marel hf, Perdue Farms, Sadia S.A. and Danish Crown.
The global processed meat market is expected to grow from $614.08 billion in 2021 to $691.01 billion in 2022 at a compound annual growth rate (CAGR) of 12.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $976.42 billion in 2026 at a CAGR of 9.0%.
The processed meat market consists of sales of processed meat by entities (organizations, sole traders, and partnerships) that are preserved by curing, smoking, drying, salting, or canning.Processed meat is defined as any meat that has been altered in order to increase its flavor or prolong its shelf life.
Processed meats are cured with sodium nitrite to avoid the growth of the clostridium perfringens and stored in chilling and cold storage during the preservation process. High barrier materials such as polyvinylidene dichloride or ethylene-vinyl alcohol are used for the vacuum packing of processed meat.
The main types of products in processed meat are chilled, frozen, and canned or preserved.The Chilled meat is preserved to avoid microbial deterioration and spoilage of the meat product.
Chilled meat is allowed to freeze in the atmosphere at -4 degrees Celcius and is cured with nitrite, antioxidant, and flavoring properties. The different processing’s include fresh processed meat, raw cooked meat, precooked meat, raw fermented sausages, cured meat, dried meat, others and involves various meat types such as poultry, beef, mutton, pork, others. it has both organic and conventional nature and is distributed through various channels such as supermarket/hypermarkets, grocery stores, specialty retailers, online stores, others.
North America was the largest region in the processed meat market in 2021.Europe was the second-largest region in the processed meat market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing consumption of various processed food products is expected to propel the growth of the processed meat market going forward.Food that has been frozen, canned, cooked, packaged, or modified in nutritional composition through fortification, preservation, or preparation in various ways is considered processed food.
Processed meat provides several advantages, including a better taste, a lower risk of meat-borne infections, a longer shelf life, and a high degree of portability. For instance, according to the Standard Process Inc., a US-based food supplements company report published in 2020, processed foods account for about 70% of the American diet. Additionally, according to the agricultural and processed food products export development authority, During the fiscal year 2020-21, India exported 774.11 Megatonne (MT) of processed meat to the world, valued at 1.62 million dollars. Therefore, the increasing consumption of various processed food products drives the growth of the processed meat market.
Plant-based meat is a key trend gaining popularity in the processed meat market.Plant-based meats are foods made from plants that are meant to be a substitute for animal-based meats, such as sausages, steaks, burgers, fillets, bacon, nuggets, and a plethora of other variations of popular cuisines.
For instance, in December 2021, ITC Limited, an India-based conglomerate company launched plant-based meat products in recognition of India’s growing demand for meat alternatives and vegan meals. To begin, ITC will introduce plant-based burger patties and nuggets that taste like chicken which are the two most popular non-vegetarian frozen food groups.
In April 2021, Agthia Group PJSC, a UAE-based food and beverage company acquired a 75.02% stake in Ismailia Investments for an undisclosed amount. This acquisition is part of Agthia’s ambition to position itself as the region’s top fast-moving consumer goods (FMCG) company. Ismailia Investments is an Eqypt based company that produces frozen chicken and beef products that are sold in Egypt under 4 various brands including Meatland, Atyab, Furat and Shiketita.
The countries covered in the processed meat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06244986/?utm_source=GNW
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