The market for Processed Meat is projected to reach US$ 519.8 billion by the end of 2033

From 2023 to 2033, worldwide processed meat consumption is forecasted to increase at a steady 4.5% CAGR. Presently, the global processed meat market accounts for a value of US$ 335 billion and is estimated to attain a revenue valuation of US$ 519.8 billion by 2033-end.

Eating habits and lifestyles have changed drastically in the past couple of decades and these changes have resulted in the high demand for processed foods across the world. Globalization and the growing popularity of different types of cuisines have resulted in higher consumption of different types of meat. Changing consumer preferences, high availability of processed foods, hectic lifestyles, growing working women population, rising per capita disposable income, advancements in freezing technology, and increasing demand for fresh meat from the health-conscious population are key factors that are slated to promulgate processed meat demand through 2033.

High Demand for Halal Meat Opening Up New Opportunities for Companies

The Muslim population across the world has increased at a rapid pace and this has resulted in high demand for halal meat, which means meat that is obtained by slaughtering the animal as instructed in Islam. All the meat products sold in the Middle Eastern region and North African region are mostly halal owing to the presence of a high Muslim population.