Processed meat are a type of meat products on which a series of operations and processes are performed to prolong their shelf life, improve characteristics, such as taste, flavor, and outer appearance, and reduce the time or efforts spent in performing culinary procedures on them before consumption.
According to the World Health Organization, processed meat is any kind of meat that has been transformed artificially through various processes such as fermentation, salting, smoking, or curing. Most processed meat contain poultry meat, beef, pork, and sheep meat. Sausages, hot dog, biltong, and corned beef are some of the most popular examples of processed meat.
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The Fact.MR report on the processed meat market is a reliable source of detailed information about the dynamics and growth prospects of the processed meat market. Readers can find comprehensive data and estimated values on how the processed meat market will grow during the forecast period 2018-2028.
Steadily Increasing Meat Production and Consumption Complement Processed Meat Market Growth
As diets of modern consumers have become more diverse and richer in high-value protein, demand for livestock products as increased, fueling the global production of meat, which is expected to prove remunerative for processed meat manufacturers. The world meat production increased, albeit steadily, to surpass 330 Mt in 2017, according to a report by the Food and Agriculture Organization. The report further predicts an increase of 48 Mt in the global meat production in the next decade to reach 367 Mt by the end of 2027.
Underpinned by improved economic conditions and herd expansions across the world, increased demand and consumption of meat is likely to boost meat production in the coming years. Manufacturers in the processed meat market are capitalizing on the rise in global meat production to offer competitive prices of processed meat products, and ultimately, gain an edge in the processed meat market.
Rapidly Growing Processed Food Industry Fuels Developments in the Processed Meat Market
The global demand for food has increased with an unprecedented rise in population, urbanization, and discretionary spending habits of consumers across the globe. Fast-pacing lifestyle is facilitating the needs for convenience at cooking, thereby the market for processed food and drinks accounts for a significant share in the global food industry.
Recent changes in consumers’ dietary preferences with changing lifestyle, and growing demand for processed food and resource-intensive animal products are reflected into the growth of the processed meat market. Thereby, manufacturers in the processed meat market are leveraging the recent developments in the processed food industry and consumer inclination towards consumption of animal-based proteins.
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Risk of Colorectal Cancer with the Consumption of Processed Meat Hampers Market Growth
A study published by the World Health Organization (WHO)’s International Agency for Research on Cancer (IARC) found the molecular mechanism in processed meat that underlie the carcinogenicity of processed meat, which can increase the risk of colorectal cancer in humans. Taking into consideration the potential risks of processed meat consumption, the American Cancer Society recommends limiting processed meat in the American Cancer Society Guidelines on Nutrition and Physical Activity for Cancer Prevention. Increasing prevalence of lifestyle diseases, including cancer, is encouraging consumers to modify their lifestyle and dietary habits. Thereby, growing awareness about the carcinogenicity of processed meat may impede the growth of the processed meat market in the upcoming years.
Stringent Regulations and High Levies on Processed Meat Products Create Challenges for Manufacturers
The growth prospects of the processed meat market are indirectly influenced by the availability of environmental resources, and high livestock supplies can improve the productivity of processed meat businesses. In order to mitigate the environmental footprint of processed meat products, government organizations have imposed laws and legislation, such as the Paris climate agreement and food safety regulations. The use of various ingredients in processed meat products is regulated by developing stringent food safety laws, such as Federal Food, Drug and Cosmetic Act. Conforming to the strict regulations and high levies can cause a significant rise in operational costs and production costs of processed meat products, which is likely to negatively impact the processed meat market growth prospects.
This section in the Fact.MR study aids readers to comprehend information about critical developments in the processed meat market along with insightful information about the growth of the leading processed meat manufacturers in the market. The report features a complete list of leading stakeholders in the processed meat market and provides useful information about recent developments in the winning strategies of leading players in the processed meat market.
Processed meat market players mentioned in the report are JBS SA, Tyson Foods, Inc., Harim Co Ltd., WH Group, Hormel Food Corporation, Cargill Meat Solutions Corp., BRF, Smithfield Foods, Inc., Danish Crown A/S, and Lotte Foods, Inc.
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