Processed Meat - Canada

Canada

Revenue in the Processed Meat market amounts to US$6.48bn in 2024. The market is expected to grow annually by 2.77% (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$163.10 are generated in 2024.
In the Processed Meat market, volume is expected to amount to 411.00m kg by 2029. The Processed Meat market is expected to show a volume growth of 0.7% in 2025.
The average volume per person in the Processed Meat market is expected to amount to 10.1kg in 2024.

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

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Analyst Opinion

The Processed Meat market in the Meat Market within The Food market in Canada has seen minimal growth, influenced by factors such as changing consumer preferences, increasing health consciousness, and the convenience of online shopping. The sub-markets of Ham & Bacon, Sausages, and Cold & Roast Meat Products contribute to this trend, with a focus on healthier options and sustainable sourcing. The market's negligible growth rate is also impacted by the fluctuating prices of raw materials and competition from alternative protein sources.

Customer preferences: The demand for alternative protein sources, such as plant-based and lab-grown meat, is on the rise in Canada's processed meat market. This trend is driven by a growing number of health-conscious consumers, as well as concerns about environmental sustainability and animal welfare. In addition, there has been a shift towards premium and artisanal processed meat products, as consumers prioritize quality and unique flavor profiles. This shift is attributed to changing cultural attitudes towards food, as well as increasing disposable income and a desire for indulgent food experiences.

Trends in the market: In Canada, the Processed Meat Market of the Meat Market within The Food market is experiencing a surge in demand for plant-based alternatives, driven by consumer concerns about health and sustainability. This trend is expected to continue, with major players investing in research and development to expand their plant-based product offerings. Additionally, there is a growing demand for locally sourced and ethically raised meat, leading to an increase in small-scale, artisanal meat producers. These trends have significant implications for industry stakeholders, as they must adapt to changing consumer preferences and invest in sustainable and ethical practices to remain competitive in the market.

Local special circumstances: In Canada, the processed meat market is heavily influenced by the country's diverse cultural landscape. The demand for ethnic flavors and traditional meat products, such as smoked meats and sausages, has led to a flourishing market for specialty meat processors. Additionally, Canada's strict food safety regulations have also played a role in shaping the market, with consumers placing a high value on trusted and certified meat products. The country's vast and varied geography also poses unique challenges for transportation and distribution, affecting market dynamics and pricing.

Underlying macroeconomic factors: The Processed Meat Market within the Meat Market of The Food market in Canada is heavily influenced by macroeconomic factors. The country's stable economy, favorable regulatory environment, and strong investment in the food industry have contributed to the growth of this market. Additionally, the increasing demand for convenience food products due to busy lifestyles and the rising awareness about health and wellness have also played a significant role in boosting the processed meat market. Moreover, the growing urbanization and changing dietary patterns in Canada have led to a shift towards processed meat consumption, further driving market growth.

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.