Processed Meat - G20 | Statista Market Forecast

Revenue in the Processed Meat market amounts to US$232.20bn in 2024. The market is expected to grow annually by 4.17% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$42bn in 2024).
In relation to total population figures, per person revenues of US$46.69 are generated in 2024.
In the Processed Meat market, volume is expected to amount to 25.60bn kg by 2029. The Processed Meat market is expected to show a volume growth of 1.6% in 2025.0.
The average volume per person in the Processed Meat market is expected to amount to 4.8kg in 2024.

Definition:

The Processed Meat market covers all types of meats that have either been smoked, salted, cured, or given chemical preservatives. The market is splitted into three submarkets: ham & bacon, sausages, and cold & roast meat products.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

Cured and prepared meat products and sausages
Bacon
Salami

Fresh meat
Meat-based ready-to-eat meals
pâté
Burger patties, meatball
Out-of-home consumption

The Processed Meat Market within the Meat Market of The Food market in G20 is experiencing minimal growth, influenced by factors such as changing consumer preferences, health concerns, and increased scrutiny on the industry. Sub-markets like Ham & Bacon, Sausages, and Cold & Roast Meat Products play a role in shaping the market's growth. However, strict regulations and growing demand for healthier, sustainable options are hindering its overall growth rate.

Customer preferences: The rise in health consciousness and concerns over sustainability and animal welfare have led to a growing demand for plant-based alternatives in the processed meat market. Brands are increasingly offering meat-free options to cater to vegetarian and flexitarian consumers, who are seeking healthier and more environmentally-friendly choices. This trend is also driven by the increasing number of individuals adopting a vegan or vegetarian lifestyle for ethical or health reasons.

Trends in the market: In the G20 countries, the Processed Meat market is experiencing a shift towards healthier and more sustainable options, with an emphasis on plant-based alternatives. This trend is driven by increasing consumer awareness of the environmental and health impacts of traditional meat production. As a result, we are seeing a rise in companies offering plant-based meat substitutes and alternative protein sources. This trend is expected to continue, with potential implications for industry stakeholders such as meat producers and retailers who may need to adapt their offerings to stay relevant in the market.

Local special circumstances: In the G20 countries, the Processed Meat Market within The Food market is heavily influenced by diverse factors. For instance, in China, the market is driven by the country's cultural preference for processed meats, such as sausages and preserved meats. In the United States, the market is greatly impacted by strict regulations and guidelines for food safety, ensuring high standards for processed meats. In Brazil, the demand for processed meat is largely driven by the country's growing middle class and their preference for convenience and affordability, leading to the popularity of processed meat products.

Underlying macroeconomic factors: The Processed Meat Market of the Meat Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending, economic growth, and trade policies. Countries with strong economic growth and high levels of disposable income tend to have higher demand for processed meat products, while nations with weak economic conditions may experience a decline in consumer spending on meat products. Additionally, trade policies and agreements between countries can impact the import and export of processed meat, affecting market dynamics and supply chain management. In recent years, the increasing demand for convenience food and changing dietary preferences have also played a significant role in shaping the growth of the Processed Meat Market within the Meat Market, creating opportunities for market expansion and innovation.

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.