The North America processed meat market size was valued at USD 26.40 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.5% from 2021 to 2028. The market is expected to witness decent growth in the years to come because of a surge in the demand for convenient and easy-to-eat food, leading to the growth of the meat manufacturing sector. The rising disposable income of consumers, coupled with an increase in the number of working professionals, will propel the market growth over the forecast period. The COVID-19 pandemic has caused disruptions in the market. The limited availability of some products in retail stores resulted in a price rise. COVID-19 outbreaks have taken place in numerous meat production facilities operating in the U.S. and Canada. These outbreaks affected a large number of plants, which led to the disruption of the supply chain, closure of some factories, and posed a substantial threat to the product supply in the region.
The U.S. market is projected to witness steady growth over the forecast period on account of the changing lifestyles of consumers and rising urbanization, which affect the consumption pattern of the consumers. According to the United States Department of Agriculture (USDA), the U.S. was the top consumer of meat in 2019 and has been at the top spot since 2017.
With the rising awareness regarding the proper intake of protein among consumers in the country, protein-rich processed products have been witnessing high demand. According to the estimates provided by the National Chicken Council, U.S., the total consumption of meat, which includes beef, pork, chicken, and turkey, was around 199 pounds per person per year back in 2012, which rose to 223 pounds per person per year in 2019.
Innovative product launches, such as Benny's Original Meat Straws, are expected to propel the market growth. In order to attract targeted customers, manufacturers are also coming up with gender-specific products, such as Tillamook Country Smoker’s All Natural Cranberry Turkey Jerky, which specifically targets female consumers, and barbecue-flavored meatballs launched by Kerry Foods, which are aimed at the adult male demographic.
The demand for protein is witnessing an increase on account of the growing consumer awareness regarding the consumption of high nutritional food. The fast-paced lives of these individuals in developed parts of the country have led to the preferential shift of the working class from conventional to processed products. In addition to this, with an increasing gym-going population in the U.S., Canada, and Mexico, the demand for animal-based protein has risen significantly over the past few years.
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. A large number of processed meats such as hams, frankfurters, bacon, and bologna are typically preserved with the cured method, which requires sodium nitrite.
Manufacturers are trying to explore other components as alternatives to sodium nitrite for preservation owing to the rising consumer awareness about the harmful effects of these preservatives. In September 2018, Finnebrogue Artisan, a Northern Island-based producer, introduced its new product Naked Bacon, which uses Mediterranean spice and fruit extracts instead of the typical nitrites. These product innovations are expected to drive this segment.
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. These products are considered to be healthier in comparison to cured products, which is expected to drive their demand among consumers.
The growing concerns about harmful conventional curing agents have been boosting the demand for uncured products in North America. Consumers are increasingly preferring natural preserving agents made with plant-derived nitrates and nitrites over synthetic alternatives. This growing trend of natural food products is expected to fuel the growth of the uncured segment in the upcoming years.
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. Additionally, chilled meat has high demand in the region owing to its longer shelf life and original taste. Chilled raw packaged meat cuts are quite popular among consumers in North America.
The demand for canned products is increasing among the consumers owing to the rising preference for ready-to-eat products. Canned products provide high-quality, protein-rich food that is stable at ambient temperatures apart from being highly convenient. Moreover, the increasing number of innovative product launches in this category is anticipated to boost the market growth.
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. Some of the common frozen products purchased by consumers include meatballs, chicken nuggets, beef patties, fillets, and chicken breast.
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. There is a wide variety of dried and fermented products available in the market today, such as dry ham, pepperoni, salami, and chorizo. These meats are made via a process of microbial stabilization through drying. Companies offer a range of dry and fermented meats with stable color, uniformity, flavor, and appearance.
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. Frozen ground beef in a boneless form is one of the most popular processed beef products among consumers.
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. Furthermore, processed pork products are a source of high protein, vitamins, and minerals.
The demand for processed mutton is limited across North America due to its stronger taste and flavor in comparison to others. However, the wide application of mutton in dishes like grilled sheep-meat-on-a-stick, breaded mutton, mutton cutlets, and braised mutton with Madeira sauce, Cajun sauce, piquant sauce, and tomato sauce is expected to boost the demand for processed mutton in the region.
The poultry segmentis 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. The presence of high proteins, vitamins, and minerals, such as A, B6, B12, niacin, thiamine, riboflavin, iron, zinc, magnesium, potassium, and phosphorus also makes it appealing to the consumers who want to include lean protein in their diets.
The U.S. held the largest revenue share of over 61.0% in 2020. The U.S. is one of the leading producers of meat in the world, including beef. According to the USDA, the country produces approximately 11.4 million tons of beef each year and also imports significant quantities from countries, such as Canada, Australia, Mexico, and New Zealand.
Furthermore, the demand for the product has remained steady for the past few years in the U.S. since these foods are priced lower when compared to self-prepared foods made from raw meat. This trend is expected to continue over the forecast period. Additionally, increasing awareness regarding the ill effects of the chemicals and additives used in curing products and increasing internet penetration have led to consumers switching to uncured products.
Canada held a significant revenue share in the North American market in 2020. According to the Organization for Economic Co-operation and Development (OCED), Canada was one of the largest pork and beef producers in 2019, and the country witnesses significant export as well as domestic demand. Furthermore, the high consumption and expenditure of the country have been boosting the market growth.
The market in Mexico is expected to expand at the fastest revenue-based CAGR of 5.9% over the forecast period. Meat is a staple component of most traditional Mexican cuisines. The rapid expansion of slaughterhouses and processing units in the country has widened the accessibility of the products in Mexico. Improved supply chain and transportation infrastructure have strengthened the distribution network of the industry and enhanced the market growth in the country.
The market is characterized by the presence of a large number of global and domestic players. In August 2020, Conagra Brands, Inc. invested USD 100 million to expand its meat snacks processing facility in Troy, Ohio, U.S. This plant produces Duke's and Slim Jim branded products. Considering the increasing sales of its snacks, the company planned to add 63,000 sq. ft. to the plant, including new smokehouses, packaging equipment, and drying rooms. This, in turn, will allow the company to expand its production capacity. Some prominent players in the North America processed meat market include: -
Tyson Foods, Inc.
Conagra Brands, Inc.
Smithfield Foods, Inc.
Hormel Foods Corporation
National Beef Packing Company, LLC
Market size value in 2021
USD 27.03 billion
Revenue forecast in 2028
USD 34.80 billion
CAGR of 3.5% from 2021 to 2028 (Revenue-based)
Market size value in 2021
Revenue forecast in 2028
CAGR of 2.5% from 2021 to 2028 (Volume-based)
Base year for estimation
2016 - 2019
2021 - 2028
Revenue in USD million/billion, volume in kilotons, and CAGR from 2021 to 2028
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends
Meat type, type, product, region
U.S.; Canada; Mexico
Key companies profiled
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
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This report forecasts revenue and volume growth at the regional and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the North America processed meat market report on the basis of meat type, type, product, and region:
Meat Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
Dry & Fermented
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
b. North America processed meat market size was estimated at USD 26.40 billion in 2020 and is expected to reach USD 27.03 billion in 2021.
b. North America processed meat market revenue is expected to grow at a compound annual growth rate of 3.5% from 2021 to 2028 to reach USD 34.80 billion by 2028.
b. The beef segment contributed to the highest share of more than 35% in North America processed meat market in 2020. The growing demand for grass-fed beef products due to their high nutritional value is expected to drive this segmentâ€™s growth.
b. Some key players operating in 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, and OSI Group.
b. Key factors that are driving North America's processed meat market growth include a surge in the demand for convenient and easy-to-eat food coupled with an increase in the number of working professionals across the region.
b. The cured products segment held the largest revenue share of more than 60.0% in North America processed meat market in 2020.
b. The chilled products segment led the North America processed meat market with the largest revenue share of more than 65.0% in 2020.
b. The U.S. held the North America processed meat market with the largest revenue share of over 61.0% in 2020.
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