Processed Meat - Southern Asia

Southern Asia

Revenue in the Processed Meat market amounts to US$10.06bn in 2024. The market is expected to grow annually by 6.15% (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$5.26 are generated in 2024.
In the Processed Meat market, volume is expected to amount to 1.86bn kg by 2029. The Processed Meat market is expected to show a volume growth of 1.1% in 2025.
The average volume per person in the Processed Meat market is expected to amount to 0.9kg in 2024.

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

Market

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Region comparison

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Analyst Opinion

The Processed Meat Market in Southern Asia has been steadily growing, influenced by factors such as increasing demand for convenience foods, rising disposable income, and changing dietary preferences. However, the market's growth rate is minimal, possibly due to health concerns and rising awareness about the negative effects of consuming processed meats. This trend may also be impacted by the sub-markets within the Meat Market, such as Ham & Bacon, Sausages, and Cold & Roast Meat Products, which may have varying growth rates and contribute to the overall market's performance.

Customer preferences: As the demand for convenience and ease of consumption continues to rise, consumers in Southern Asia are turning to processed meat as a quick and easy meal option. This trend is coupled with a growing preference for healthier and more sustainable food choices, leading to a rise in demand for plant-based and organic processed meat products. This shift towards more conscious consumption is driven by cultural values that prioritize natural and ethically-sourced ingredients, as well as increasing awareness of the environmental impact of conventional meat production.

Trends in the market: In Southern Asia, the Processed Meat Market within the Meat Market of The Food market is experiencing a surge in demand for plant-based and vegetarian meat alternatives. This trend is driven by a growing awareness of the health and environmental impacts of consuming traditional processed meats. Additionally, there is a rising preference for ethically-sourced and sustainable meat products. These trends are shaping the future of the industry, with a potential shift towards more plant-based options and a need for manufacturers to adapt their production processes to meet changing consumer demands. This presents opportunities for industry stakeholders to innovate and diversify their product offerings to meet the evolving needs of the market.

Local special circumstances: In Southern Asia, the Processed Meat Market of the Meat Market within The Food market is influenced by local factors such as the diverse dietary preferences, religious beliefs, and cultural practices of the region. For instance, in India, the market is dominated by vegetarian and halal options, while in countries like Sri Lanka and Bangladesh, the demand for processed meat is low due to a large population of Buddhists and Hindus. Additionally, strict regulations on the import and export of meat products also play a significant role in shaping the market dynamics in this region.

Underlying macroeconomic factors: The processed meat market in Southern Asia is heavily impacted by macroeconomic factors, including global economic trends, national economic health, and fiscal policies. Countries with strong economic growth and stable fiscal policies are experiencing faster market growth compared to regions with economic challenges and uncertain fiscal policies. Additionally, the rising population and increasing disposable income in Southern Asia are driving the demand for processed meat products. Moreover, the increasing urbanization and changing dietary patterns in the region are also contributing to the growth of the processed meat market. These factors are expected to continue driving the market in the coming years.

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.