Processed Meat - APAC

APAC

Revenue in the Processed Meat market amounts to US$51.99bn in 2024. The market is expected to grow annually by 4.98% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$42bn in 2024).
In relation to total population figures, per person revenues of US$12.12 are generated in 2024.
In the Processed Meat market, volume is expected to amount to 6.17bn kg by 2029. The Processed Meat market is expected to show a volume growth of 2.1% in 2025.
The average volume per person in the Processed Meat market is expected to amount to 1.3kg in 2024.

Key regions: India, China, United Kingdom, Spain, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

The Processed Meat Market in APAC is seeing moderate growth, influenced by factors such as changing consumer preferences, increasing demand for convenience foods, and the rising popularity of packaged meat. However, the market is facing challenges due to health concerns and regulations on additives and preservatives. These factors are impacting the market's minimal growth rate.

Customer preferences: As consumers become more health-conscious, there has been a growing demand for processed meat products that are perceived as healthier, such as plant-based alternatives. This trend is driven by factors such as the rise of flexitarianism and concerns over the environmental impact of traditional meat production. Additionally, with the increasing popularity of convenience and on-the-go meals, there is a growing demand for processed meat products that offer quick and easy meal solutions. These shifts in consumer preferences are influencing the development of new products and driving innovation in the processed meat market in APAC.

Trends in the market: The APAC region is experiencing a rise in the demand for plant-based meat alternatives, driven by consumer concerns about health and sustainability. In addition, there is a growing trend towards clean label and natural ingredients in processed meat products, as consumers become more health-conscious. This shift towards healthier and more sustainable options is expected to continue, presenting opportunities for industry stakeholders to innovate and meet changing consumer preferences. Furthermore, the rise of e-commerce and online grocery shopping is also influencing the processed meat market, with companies increasingly offering direct-to-consumer sales and expanding their online presence to reach a larger customer base. These trends signal a potential shift in the traditional meat market, with implications for both producers and retailers.

Local special circumstances: In China, the Processed Meat Market is highly influenced by cultural and dietary preferences. The country has a long history of consuming preserved meats, such as cured sausages and dried meat products. This has led to a strong demand for processed meat products, including hot dogs, bacon, and ham. Additionally, the Chinese government's regulations on food safety and import restrictions have a significant impact on the market. Local companies are also investing in new technologies to improve food safety and meet consumer demands for healthier options, such as plant-based meat alternatives.

Underlying macroeconomic factors: The Processed Meat Market of the Meat Market within The Food market is heavily influenced by macroeconomic factors in the APAC region. Global economic trends, such as rising consumer demand for convenience foods and growing disposable income, are driving the growth of the processed meat market in APAC. Additionally, national economic health, including GDP growth and consumer confidence, play a significant role in consumer spending on processed meat products. Fiscal policies, such as taxes and regulations on imported and domestically produced meat, also impact market performance. Other relevant financial indicators, such as inflation rates and interest rates, can affect the cost of production and ultimately, the prices of processed meat products. These macroeconomic factors highlight the importance of considering the broader economic landscape when analyzing the performance of the Processed Meat Market in APAC.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.