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Global processed meat market size to grow at a CAGR of 4.6% from 2021-2031
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Tuesday, 06 September, 2022, 14 : 00 PM [IST]
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Our Bureau, Mumbai
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Sales of processed meat are expected to reach a valuation of US$ 356.5 bn by 2031, rising at a CAGR of around 4.6% over the next 10 years, according to a recent report by Fact.MR, a market research and competitive intelligence provider.
In the global food & beverage industry, innovation and new product creations are based on strong natural, health, and sustainability credentials. Products made with healthy and nutritious components and labelled with assurances of minimal processing or demonstrable health benefits from natural ingredients appeal more to consumers, especially in developed economies with higher incomes and an aging population.
Due to rising affluence and healthy eating trends, emerging countries such as China and India are likely to play a significant role in the global meat and poultry sector. Because they are sold by well-established corporations such as the WH Group in China and Godrej Tyson Foods Ltd in India, packaged processed beef products are deemed hygienic and of good quality. These manufacturers have gradually moved their focus from shelf-stable processed meat to chilled processed meat in response to increased consumer demand for more fresh and healthful processed meat products.
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