The global processed poultry meat market size was valued at $252.4 billion in 2020, and is estimated to reach $592.7 billion by 2031, registering a CAGR of 7.4% from 2022 to 2031. The production and consumption of meat has considerably increased worldwide over the years. Poultry meat has a higher demand among consumers, as it is less expensive as compared with other meat. Processed poultry meat is derived from the processing and treatment of poultry meat to prolong its shelf life and to enhance its taste. These processes include use of chemical preservatives such as sodium nitrite. Processed poultry has gained higher acceptance over the other meat, such as pork and beef, owing to high protein content and affordable price. Increased intake of poultry meat due its high protein content amongst health conscious individuals is a key factor boosting the growth of the processed poultry meat market.
Increasing demand for processed and convenience foods has significantly supplemented the growth of the processed poultry meat market. Increasing number of unorganized players and rising risk of avian diseases in poultry birds restrict the market growth. Growth in the organized retail sectors, favorable government initiatives in the emerging economies and proliferation of processed poultry meat among other consumer segments are the major factors, which would offer lucrative opportunities to the market players.
Domestic meat producer provides fresh poultry meat products at affordable price in the market. Presence of domestic meat producer restricts the market growth owing to the price differentiation factor. Furthermore, outbreaks of avian diseases such as Avian Influenza, salmonella enteric, campylobacter jejuni and others are likely to impose a potential threat to the consumer, which in turn limits the growth of the market.
Outbreak of COVID-19, was negatively impacted the growth of the market owing to supply chain disruption, low production, and stagnant export & import activities. Furthermore, During COVID-19 people were more inclined towards consumption of the non-animal high nutritional food, which harshly impacted overall demand for processed poultry meat.
According to the processed poultry meat market analysis, the processed poultry meat market segmented into product type, preservation type, and end user and region. On the basis of product type, the market is categorized into chicken, turkey, duck and others. By preservation type, it is bifurcated into cured and uncured. By end user, it is bifurcated into retail and foodservice. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and Rest of the Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and Rest of the Asia-Pacific) and LAMEA (Brazil, Argentina, South Africa and Rest of LAMEA).
North America is the leading region in the global processed poultry meat market with largest market share and highest CAGR during the forecast period. Increasing demands of processed animal protein and convenience foods majorly supplement the growth of the processed poultry meat market in North America. Owing to increased health awareness, consumers in the region are consuming less red meat, getting more inclined towards consumption of poultry meat.
The players operating in the global processed poultry meat industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include BRF S.A., Cargill Incorporated, Cherkizovo Group, Golden Valley Natural LLC., Hormel Foods Corporation, JBS S.A., Marfrig Global Foods S.A, NH Foods Ltd., Tyson Foods, Inc. and WH Group Limited.
Increasing demand for processed and convenience foods has significantly supplemented the growth of the processed poultry meat market. Increasing number of unorganized players and rising risk of avian diseases in poultry birds restrict the market growth. Growth in the organized retail sectors, favorable government initiatives in the emerging economies and proliferation of processed poultry meat among other consumer segments are the major factors, which would offer lucrative opportunities to the market players.
Domestic meat producer provides fresh poultry meat products at affordable price in the market. Presence of domestic meat producer restricts the market growth owing to the price differentiation factor. Furthermore, outbreaks of avian diseases such as Avian Influenza, salmonella enteric, campylobacter jejuni and others are likely to impose a potential threat to the consumer, which in turn limits the growth of the market.
Outbreak of COVID-19, was negatively impacted the growth of the market owing to supply chain disruption, low production, and stagnant export & import activities. Furthermore, During COVID-19 people were more inclined towards consumption of the non-animal high nutritional food, which harshly impacted overall demand for processed poultry meat.
According to the processed poultry meat market analysis, the processed poultry meat market segmented into product type, preservation type, and end user and region. On the basis of product type, the market is categorized into chicken, turkey, duck and others. By preservation type, it is bifurcated into cured and uncured. By end user, it is bifurcated into retail and foodservice. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and Rest of the Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and Rest of the Asia-Pacific) and LAMEA (Brazil, Argentina, South Africa and Rest of LAMEA).
North America is the leading region in the global processed poultry meat market with largest market share and highest CAGR during the forecast period. Increasing demands of processed animal protein and convenience foods majorly supplement the growth of the processed poultry meat market in North America. Owing to increased health awareness, consumers in the region are consuming less red meat, getting more inclined towards consumption of poultry meat.
The players operating in the global processed poultry meat industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include BRF S.A., Cargill Incorporated, Cherkizovo Group, Golden Valley Natural LLC., Hormel Foods Corporation, JBS S.A., Marfrig Global Foods S.A, NH Foods Ltd., Tyson Foods, Inc. and WH Group Limited.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global processed poultry meat market with current trends and future estimations to elucidate the imminent investment pockets in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis from 2020 to 2031 is provided to showcase the financial competency of the market.
- Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights business practices followed by leading market players across various regions.
Key Market Segments
By Product Type
- Others
- Chicken
- Turkey
- Duck
By Preservation Type
- Cured
- Uncured
By End User
- Retail
- Food Service
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- South Africa
- Rest of LAMEA
Key Market Players
- BRF SA
- Cargill Incorporated
- Cherkizovo Group
- Golden Valley Natural LLC
- Hormel Foods Corporation
- JBS SA
- Marfrig Global Foods SA
- NH Foods Ltd
- Tyson Foods Inc
- WH Group Limited
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PROCESSED POULTRY MEAT MARKET, BY PRODUCT TYPE
CHAPTER 5: PROCESSED POULTRY MEAT MARKET, BY PRESERVATION TYPE
CHAPTER 6: PROCESSED POULTRY MEAT MARKET, BY END USER
CHAPTER 7: PROCESSED POULTRY MEAT MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Processed Poultry Meat Market,' the processed poultry meat market was valued at $252.40 billion in 2020, and is estimated to reach $592.70 billion by 2031, growing at a CAGR of 7.4% from 2022 to 2031.Consumption of meat has increased significantly worldwide in the last decade especially in developed countries such as U.S. and U.K. Production of poultry meat has increased significantly owing to factory farming and animal agriculture. Pork, beef and goat are popular meat products among the consumers. Pork meat is rich in certain nutrients like thiamine and iron, but it is also high in cholesterol and saturated fat. Thus, rising obesity and obesity related health issue, consumers are now switching from pork, beef and goat meat to poultry meat. Affordable price and easy availability has further boosted the processed poultry meat demand. Processed and convenience food have gained a higher acceptance owing to changing lifestyle patterns and increasing disposable income of individuals. Together, all the aforementioned factors account for the substantial growth of the processed poultry meat market size.
Consumer awareness regarding animal protein rich diet has grown substantially over the last few years. Consumers in the developed countries are now avoiding intake of protein rich diet, owing to its high saturated fat content, leading to severe health hazards. In this scenario, poultry meat is the most feasible option for consumers. Thus, the increased preference for animal protein rich diet due to increasing health consciousness drives the processed poultry meat market.
Outbreak of COVID-19 was negatively affected the growth of the processed poultry meat market in 2020. This was majorly attributed to closers of the country boundaries which leads to disruption of export and import activities, low production of poultry meat. Furthermore, Furthermore, meat producers and processors faced difficulty in harvesting and shipment of the products due to lockdown situations, decrease in labor force, restrictions in movement of animals within and across the country.
According to the processed poultry meat market analysis, the processed poultry meat market segmented into product type, preservation type, and end user and region. On the basis of product type, the market is categorized into chicken, turkey, duck and others. By preservation type, it is bifurcated into cured and uncured. By end user, it is bifurcated into retail and foodservice. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and Rest of the Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and Rest of the Asia-Pacific) and LAMEA (Brazil, Argentina, South Africa and Rest of LAMEA).
According to the processed poultry meat market trends, on the basis of product type, the turkey segment was the significant contributor to the market, with $31.6 billion in 2020, and is estimated to reach $55.9 billion by 2031, at a CAGR of 4.6% during the forecast period. Turkey meat is a rich source of protein, zinc, phosphorus, iron, potassium and others. Turkey meat is largely consumed in countries like the U.S., and Canada during Christmas feasts. Fresh turkey meat is preferred over frozen meat; however, it becomes difficult to purchase fresh turkey meat without preordering it during holidays in regions like North America and Europe. Thus, above mentioned factors are likely to garner the growth of the market during the forecast period.
According to the preservation type, the cured segment was the highest contributor to the processed poultry meat market size, and is estimated to reach $359.9 billion by 2031, at a CAGR of 6.9% during the forecast period. Cured meats have a longer shelf life as compared to uncured meat. Additionally, nitrites ensure better food quality and food safety, thereby gaining a higher acceptance in the market. The long lasting characteristic of nitrates has attributed to the growing popularity of poultry meat products.
On the basis of end user, the retail segment was the highest contributor to the market, and is expected grow at CAGR of 7.0% during the forecast period. Retail is the prime end-user for the processed poultry meat market. Retail is one of the most important end user segments in the processed poultry meat market. Supermarket and hypermarket are the major segments in retail end-user. Convenience stores, departmental stores and specialist retailers are other retail end-user. Manufacturers are offering special discounts through these hypermarkets and they encourage the hypermarkets and supermarkets chains to sell their own products, majorly boosting the sale of processed poultry meat.
According to the processed poultry meat market opportunities, region wise, Europe region gained significant processed poultry meat market share and is expected to sustain its share throughout processed poultry meat market forecast period. This is attributed to the significant growth in usage of innovative and advanced technology for processing of the poultry meat. Players operating in Europe processed poultry meat market are involved in the production of better and efficient quality processed poultry meat. They are coming up with innovative technologies in producing processed meat, resulting in increased competition in the Europe market, which in turn garner the Europe processed poultry meat market growth.
The players operating in the processed poultry meat industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include BRF S.A., Cargill Incorporated, Cherkizovo Group, Golden Valley Natural LLC., Hormel Foods Corporation, JBS S.A., Marfrig Global Foods S.A, NH Foods Ltd., Tyson Foods, Inc. and WH Group Limited.
KEY FINDINGS OF THE STUDY
The processed poultry meat market share was valued at $252.4 billion in 2020, and is estimated to reach $592.7 billion by 2031, registering a CAGR of 7.4% from 2022 to 2031.In 2020, depending on product type, the duck segment acquired6.9 billion, garnering 2.7% of the global market share.
In 2020, on the basis of preservation type, the uncured segment acquired90.9 billion, exhibiting 36.0% of the global market share.
By end user, the foodservice segment growing at CAGR of 7.9% during the forecast period.
U.S. was the most prominent market in North America in 2020, and is projected to reach $191.3 billion by 2031, growing at a CAGR of 7.0% during the forecast period.
Companies Mentioned
- BRF SA
- Cargill Incorporated
- Cherkizovo Group
- Golden Valley Natural LLC
- Hormel Foods Corporation
- JBS SA
- Marfrig Global Foods SA
- NH Foods Ltd
- Tyson Foods Inc
- WH Group Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 215 |
| Published | March 2022 |
| Forecast Period | 2020 - 2031 |
| Estimated Market Value ( USD | $ 252.4 billion |
| Forecasted Market Value ( USD | $ 592.7 billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
