Market Size of north america processed meat Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 15.18 Billion |
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Market Size (2029) | USD 17.06 Billion |
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Largest Share by Type | Poultry |
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CAGR (2024 - 2029) | 2.36 % |
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Largest Share by Country | United States |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
North America Processed Meat Market Analysis
The North America Processed Meat Market size is estimated at 15.18 billion USD in 2024, and is expected to reach 17.06 billion USD by 2029, growing at a CAGR of 2.36% during the forecast period (2024-2029).
15.18 Billion
Market Size in 2024 (USD)
17.06 Billion
Market Size in 2029 (USD)
5.44 %
CAGR (2017-2023)
2.36 %
CAGR (2024-2029)
Largest Segment by Type
46.90 %
value share, Poultry, 2023
Products such as nuggets, sausages, and deli meats have boosted the demand for processed poultry items in the North American region as they are majorly consumed for breakfast and lunch.
Largest Segment by Country
68.81 %
value share, United States, 2023
Higher purchasing power and busy schedules of the consumers and the high rate of production due to feed availability are some of the major factors driving the US market.
Fastest-growing Segment by Type
3.63 %
Projected CAGR, Mutton, 2024-2029
Demand for processed mutton and frozen lamb products is increasing particularly among Americans, these meats have become popular,among adults demographic in the region.
Fastest-growing Segment by Country
2.53 %
Projected CAGR, Mexico, 2024-2029
The Mexican market is led by the increasing demand for processed beef and mutton. The booming online distribution offering these products is expected to drive the market.
Leading Market Player
35.15 %
market share, Tyson Foods Inc., 2022
An extensive range of product offerings that include processed meat and the brand-conscious consumers of the country support Tyson's domination over the market studied.
Government investment in increasing processed meat production is propelling sales
- The overall sales for processed meat increased by 9.4% in value terms from 2020 to 2022. Companies are innovating their products to gain consumers' interest. They are also expanding the supply of meat products in the market for items like sausages, salami, hot dogs, ham, bacon, and corned beef, which are frequently preserved to maintain quality.
- The other meat segment of the North American processed meat market includes lobsters, crabs, and oysters. It witnessed a growth of 7.3% in value from 2020 to 2022. With the increasing demand for quick-to-eat meals and the growing meat manufacturing industry, the market is projected to expand in the coming years. For instance, in Cuba, the on-trade channel records high sales of lobsters, as the channel offers a buy 1 get 1 scheme for lobster dishes. The increasing number of tourists, especially in Havana, is boosting the channel.
- The processed beef segment held the largest revenue share of 21.9% in 2022, owing to the increasing consumption of processed beef meat, at 26.27 kg/capita, in 2022. Over the forecast period, the market's growth is likely to be driven by organic feed used by farmers. Increased consumer disposable income and the number of working professionals, which increased by 34% in 2021, have driven the market.
- In July 2021, the USDA announced its intent to invest USD 500 million in the American Rescue Plan's funds to expand the capacities of processed meat and poultry. With this investment, the market is likely to observe a constant Y-o-Y growth rate of 2% during the forecast period of 2023-2029. The USDA also issued new rules on "Product of the USA” labels, which may further drive the processed meat market.
Understand The Key Trends Shaping This Market
Investments in processing facilities to favor the growth
- In North America, the overall sales by value for processed meat increased by 8.91% from 2020 to 2022. There is an increasing demand for ready-to-eat or ready-to-cook meat among consumers across the region, owing to their busy lifestyles. Factors such as long shelf life and hygienically processed and stored meat are boosting the growth of the North American processed meat market.
- The United States is a major country that consumes processed meat in North America. The overall sales value for processed meat increased by 3.42% in 2022 compared to 2021. Of all processed meat, processed poultry is the most consumed in the United States and accounts for the major share of 47.6%, followed by processed pork with 36.54% by value in 2022. Processed meat has wide availability in supermarkets, convenience stores, departmental stores, and vending machines, further driving the market's growth in the United States.
- Mexico is expected to be the fastest-growing country in North America to consume processed meat and is projected to register a CAGR of 2.54% by value during the forecast period. Mexicans usually prefer to consume processed meat, especially poultry. Due to this, Mexican animal health authorities are keen to gain recognition of avian influenza disease-free zones in the future, which is expected to drive the market's growth.
- Moreover, government bodies in the United States are investing in processing facilities to benefit American farmers. For instance, in July 2021, USDA invested USD 500 million in meat and poultry processing facilities to increase capacity and make agricultural markets more accessible. It also announced more than USD 150 million for the existing small processing facilities to compete in the market and increase the consumer base.
