Processed Meat - NAFTA | Statista Market Forecast

Revenue in the Processed Meat market amounts to US$61.70bn in 2024. The market is expected to grow annually by 3.53% (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$120.90 are generated in 2024.
In the Processed Meat market, volume is expected to amount to 5.93bn kg by 2029. The Processed Meat market is expected to show a volume growth of 1.2% in 2025.0.
The average volume per person in the Processed Meat market is expected to amount to 11.0kg 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.

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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 Meat Market within The Food market in NAFTA has been experiencing marginal growth, influenced by factors such as increasing health concerns and consumer demand for convenience. The sub-markets of Ham & Bacon, Sausages and Cold & Roast Meat Products may also have an impact on the overall market. However, the negligible growth rate suggests potential challenges in the production and distribution processes, as well as competition from alternative protein sources.

Customer preferences: As consumers become more health-conscious, there has been a growing demand for plant-based and organic processed meat options. This trend is driven by a desire for clean and sustainable food choices, as well as a rise in vegetarian and vegan diets. Additionally, there is an increasing focus on transparency and ethical sourcing in the meat industry, leading to a shift towards more responsibly produced processed meat products.

Trends in the market: In the NAFTA region, the Processed Meat Market within the Meat Market of The Food market is experiencing a shift towards healthier options. Consumers are increasingly seeking out products with reduced sodium, preservatives, and additives. This trend is being driven by a growing health consciousness and a desire for more natural and organic options. In response, industry players are investing in research and development to create new products that cater to this demand. This trend is expected to continue, as consumers become more educated about the health risks associated with processed meat. This shift towards healthier options presents opportunities for industry stakeholders to tap into a growing market segment and differentiate themselves from competitors. However, it also poses challenges for traditional processed meat producers who may need to adapt their processes and product offerings to stay relevant in the changing market.

Local special circumstances: In Canada, the Processed Meat Market of the Meat Market within The Food market is heavily influenced by the country's strict food safety regulations. The Canadian Food Inspection Agency (CFIA) ensures that all processed meat products meet high standards of safety and quality. This has led to a rise in demand for certified organic and natural processed meat products, as well as the adoption of clean label and transparent ingredient lists. Additionally, Canada's multicultural population has also influenced the market, with a growing demand for diverse and ethnic processed meat products.

Underlying macroeconomic factors: The Processed Meat Market of the Meat Market within The Food market is also impacted by macroeconomic factors such as global trade policies, consumer spending patterns, and government regulations. With the implementation of NAFTA, the market has experienced increased competition and market saturation as a result of the influx of imported processed meat products. Additionally, changes in consumer preferences and dietary trends, as well as government regulations on food safety and labeling, have also influenced the performance of the processed meat market. These factors, along with overall economic stability and growth, play a significant role in shaping the market landscape and driving demand for processed meat products.

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.