North America Processed Meat Market Size Expected to Reach USD 34.80 Billion by 2028

North America Processed Meat Industry Overview

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.

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:

Based on the Meat Types Insights, the market is segmented into Poultry, Beef, Pork, Mutton and Others.

  • The beef segment held the largest revenue share of more than 36.0% in 2020. The rising preference for brands such as Tyson, Gardein, and Hormel and the growing demand for grass-fed beef products due to their high nutritional value are expected to drive this segment. 
  • The pork segment held a significant revenue share in 2020. The development of meat processing equipment has made it possible to process pork in several ways. Pork ham, sausages, meatballs, and bacon are some of the processed pork products preferred by consumers for their delicious taste.
  • The poultry segment is expected to expand at the highest revenue-based CAGR of 4.1% from 2021 to 2028. The segment growth can be attributed to its lower price in comparison to other beef, pork, and mutton.

Based on the Type Insights, the market is segmented into Cured and Uncured.

  • The cured products held the largest revenue share of more than 60.0% in 2020. Curing is a method of preserving meat products by adding salt and sodium nitrites. This method keeps the products pink and is commonly used to preserve products, such as sausages, salami, hot dogs, ham, bacon, and corned beef. 
  • The uncured segment is expected to expand at the highest revenue-based CAGR of 4.3% from 2021 to 2028. Uncured processed product is typically cured using natural sources like sea salt and celery powder, and hence do not contain any artificial nitrites and nitrates. 

Based on the Product Insights, the market is segmented into Chilled, Frozen, Canned and Dry & Fermented.

  • Chilled products held the largest revenue share of more than 65.0% in 2020. The growth of the segment can be attributed to a large number of people who still prefer buying chilled products and cook them as per their requirements.
  • The frozen product segment is expected to register the fastest revenue-based CAGR of 4.4% from 2021 to 2028. The rising consumption of convenience food products is driving the demand for frozen products. Moreover, the long shelf life of these products is influencing consumers’ buying decisions. 
  • The dried and fermented segment is expected to witness considerable growth over the forecast period owing to the easy adoption of innovative flavors and textures of dry and fermented products.

North America Processed Meat Regional Outlook

  • S.
  • Canada
  • Mexico

Key Companies Profile

The market is characterized by the presence of a large number of global and domestic players. 

Some prominent players in the global North America Processed Meat market include

  • 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

Order a free sample PDF of the North America Processed Meat Market Intelligence Study, published by Grand View Research.

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