Asia-Pacific Processed Meat Market Size

APAC Processed Meat Market Analysis

The Asia-Pacific processed meat market is anticipated to register a CAGR of 11.19% over the next five years.

Increasing busy urban lifestyles in the Asia-Pacific region have resulted in consumers opting for tasty and healthy convenient foods that do not expend time for cooking or preparation. High meat consumption patterns in most of the countries in the region, like India and China, and rising preference for ready-to-eat meals are supporting the growth of the processed meat products market. For instance, according to OECD, in 2022, the consumption of poultry meat in India was found to be over four million metric tons, accounting for almost 4,253.74 thousand metric tons, which increased from 4,107.12 thousand metric tons in 2021. India is one of the leading producers of poultry meat in the world. The increase in the average income and the urban population has led to a tremendous increase in the demand for processed poultry meat products and a steady increase in consumption over the years. Additionally, the recent trend in India to establish large abattoirs-cum-meat processing plants with the latest technology is expected to further support the manufacturers to address the growing demand effectively. India has already established 10 state-of-art mechanized abattoirs-cum-meat processing plants in various states based on slaughtering buffaloes and sheep.

Moreover, with the world's largest population and a rising craving for meat, countries in the region like India and China are expected to be the biggest sources of increased demand. In addition, the young population in the region is consuming packed and processed meat products owing to their convenience and their sophisticated tastes. To address this growing demand and capture the market share, countries in the region are importing meat and then processing it with required preservatives. For instance, Chinese customs figures show that beef imports from the United States increased to 83,000 tons in the first eight months of 2021, nine times the volume in the same period a year prior, and were projected to reach more than USD 1 billion in 2022. The market is further being led by factors such as technological innovations pertaining to improved shelf lives of frozen meat products, packaging, and a rise in demand from the household and commercial sectors. Hence, the above factors are expected to boost the market's growth at a faster pace during the forecast period.