North America Processed Meat Market Worth $34.80 Billion By 2028

North America Processed Meat Market Growth & Trends

The North America processed meat market size is expected to reach USD 34.80 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.5% from 2021 to 2028. The market is expected to witness considerable growth in the years to come owing to a surge in the demand for easy-to-make food items. Furthermore, increasing purchasing power, coupled with a surge in the number of working-class professionals, will drive the market over the forecast period.

The beef meat type segment accounted for the largest revenue share in the North American market in 2020. The rising demand for grass-fed beef products that have higher nutritional value is driving this segment. Poultry-based products are expected to exhibit the highest growth rate over the forecast period owing to their low cost and the shift in consumers’ preference for white meat instead of red meat.

The chilled product segment dominated the market in 2020. Chilled products, frozen at a temperature from 1°C to 4°C, are packaged under a modified or controlled atmosphere packaging to preserve them against microbial deterioration and spoilage. Increasing advancements in chilling technology have been enabling better preservation, packaging, and transportation of chilled products. This, in turn, is boosting the growth of the sector over the years.

The U.S. is one of the largest consumers of meat products in the world. Most people in the country consume some form of processed meat in their daily meals. Such consumption patterns in the country offer significant opportunities for meat processors to launch new products. In addition to this, almost all consumers are highly dependent on animal-based protein, which is also boosting the demand for the product in the country.

In February 2020, The Chefs' Warehouse, a leading distributor of specialty food products in North America, acquired Cambridge Packing Company. Cambridge Packing Company, a U.S.-based company, offers high-end beef, pork, poultry, and seafood products.

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North America Processed Meat Market Report Highlights

• The poultry meat type segment is expected to register the fastest revenue-based CAGR of 4.1% from 2021 to 2028 owing to the increasing consumer preference for white meat products

• The uncured type segment is expected to register the fastest revenue-based CAGR of 4.3% from 2021 to 2028

• The U.S. dominated the market by accounting for over 61.0% share in terms of revenue in 2020 owing to the high consumption of the product among U.S. consumers

• The chilled product segment held the largest revenue share of more than 65.0% in 2020

North America Processed Meat Market Segmentation

Grand View Research has segmented the North America processed meat market on the basis of meat type, type, product, and region:

North America Processed Meat Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• Poultry

• Beef

• Pork

• Mutton

• Others

North America Processed Meat Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• Cured

• Uncured

North America Processed Meat Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• Chilled

• Frozen

• Canned

• Dry & Fermented

North America Processed Meat Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• U.S.

• Canada

• Mexico

List of Key Players of North America Processed Meat Market

• Tyson Foods, Inc.

• Conagra Brands, Inc.

• Sysco Corporation

• Smithfield Foods, Inc.

• Perdue Farms

• Cargill, Incorporated

• JBS USA

• Hormel Foods Corporation

• National Beef Packing Company, LLC

• OSI Group