Processed Poultry Meat Market

Processed Poultry Meat Market Research, 2031

The global processed poultry meat market was valued at $252.40 billion in 2020, and is projected to reach $592.70 billion by 2031, growing at a CAGR of 7.4% from 2022 to 2031.

Processed poultry meat is derived from the processing and treatment of poultry meat to prolong its shelf life and to enhance its taste. These processes include use of chemical preservatives such as sodium nitrite. Processed poultry has gained higher acceptance over the other meat, such as pork and beef, owing to high protein content and affordable price. Poultry meat has a higher demand among consumers, as it is less expensive as compared with other meat. Increased intake of poultry meat due its high protein content amongst health-conscious individuals is a key factor boosting the growth of the processed poultry meat market.

Factors affecting the world processed poultry meat market include increasing health awareness towards animal protein rich diet, growing demand for processed and convenience foods, coupled with price affordability of processed poultry meat products. Moreover, unflinching government support and unprecedented growth of the retail sector are also likely to boost the market. All the factors collectively create ample growth opportunities for the growth of the market whilst factors such as presence of unorganized players and threat of outbreaks of avian diseases pose limitations to the same.

With an unprecedented COVID-19 pandemic, in 2020, demand for processed poultry meat was decreased as dynamic changes in the eating pattern, high inclination towards eating animal free food products, high price and low production of the poultry meat. Furthermore meat producers and processors faced difficulty in harvesting and shipment of the products due to lockdown situations. However, in 2021, the market regained its share in global and is expected to sustain its share during the forecast period.

According to the processed poultry meat market analysis, the processed poultry meat market segmented into product type, preservation type, and end user and region. On the basis of product type, the market is categorized into chicken, turkey, duck and others. By preservation type, it is bifurcated into cured and uncured. By end user, it is bifurcated into retail and foodservice. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and Rest of the Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and Rest of the Asia-Pacific) and LAMEA (Brazil, Argentina, South Africa and Rest of LAMEA).

According to the processed poultry meat market trends, on the basis of product type, the chicken segment was the considerable contributor to the market, with $209.9 billion in 2020, and is estimated to reach $514.3 billion by 2031, at a CAGR of 7.8% during the forecast period. Chicken is the most lucrative poultry product amongst all processed poultry meat products. The popularity of chicken is usually attributed to its affordable pricing. Besides affordable pricing, the nutritional value of chicken meat has also contributed to its all-time popularity. Thus, growing popularity and benefits associated with chicken meat consumption is likely to garner the growth of the processed poultry meat market size during the forecast period.

According to the preservation type, the uncured segment was the significant contributor to the market, and is estimated to reach $232.8 billion by 2031, at a CAGR of 8.2% during the forecast period. These products are labeled as uncured on their packaging. These are refrigerated or frozen products, which are packaged in order to extend shelf life. Cured meats are more popular than uncured products. However, adoption of uncured meat products is increasing owing to the growing health awareness Owing to the natural preservatives content in uncured meat; health issues associated with it are lesser in comparison to cured meat. Thereby in order to prevent health risks, consumers in developed countries are shifting towards uncured meat products.

On the basis of end user, the foodservice segment was the highest contributor to the market, and is expected grow at CAGR of 7.9% during the forecast period.   Processed poultry meat products are gaining high acceptance from food service provider owing to their long shelf life. Fast food chains and quick service restaurants have adopted processed poultry meat as a substitute to fresh meat. Increasing rapid urbanization, disposable income and changing life style are the prime factors supporting the market growth. Nowadays, consumers are looking out for convenience food and in such scenarios, processed poultry meat products are better solutions for consumers. Thus, above mentioned factors are likley to spur the processed poultry meat Market growth during the forecast period.

Region wise, Asia-Pacific gained highest processed poultry meat market share and is expected to sustain its share during processed poultry meat market forecast period. Increasing disposable income, changing life style, preferences for convenience and protein rich food are propelling the growth for processed poultry meat market. Organized retail sector is experiencing noteworthy growth in the region and would provide several opportunities to the market. In countries like India and China, increasing disposable income, urbanization and changing life style are significant factors fueling the market growth. Price affordability and demand for convenience food are other supporting factors in these countries.

The players operating in the global processed poultry meat industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include BRF S.A., Cargill Incorporated, Cherkizovo Group, Golden Valley Natural LLC., Hormel Foods Corporation, JBS S.A., Marfrig Global Foods S.A, NH Foods Ltd., Tyson Foods, Inc. and WH Group Limited.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the processed poultry meat market analysis from 2020 to 2031 to identify the prevailing processed poultry meat market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the processed poultry meat market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global processed poultry meat market trends, key players, market segments, application areas, and market growth strategies.

 Processed Poultry Meat Market Report Highlights