South America Processed Meat Market Size

South America Processed Meat Market Analysis

The South American processed meat market is expected to register a CAGR of 8.8% over the next five years.

• South America is one of the leading producers and exporters of South America is a prominent producer and exporter of processed meat products, thanks to the abundance of livestock in the region. Market players manufacture a vast range of processed meat products to increase their shelf life and keep the meat fresh for a more extended period. The demand for processed meat products, particularly beef, is increasing in the region due to its nutritional content and availability. Processed meat products are made using all-natural methods and then stored in refrigerated environments to prevent external spoilage.
• The demand for packaged, ready-to-eat, and convenient food such as processed meat products is growing due to several factors, such as rapid urbanization, hectic lifestyles, and the adoption of new food habits and lifestyle trends. In addition, the trend of eating out, along with increasing tourism, is contributing to the rising demand for processed meat products in food service restaurants, quick chain restaurants, and retail channels. Processed meat can be stored at room temperature for a longer time than regular meat, which restaurants and hotels prefer.
• Market players are also innovating new technologies to extend the shelf life of processed meats. New packaging trends such as shrink wrapping or vacuum packaging are also used to increase the product's shelf life. Additionally, market players are forming mergers and acquisitions with global players to expand their product portfolio. For example, in November 2021, JBS SA acquired Biotech Foods, a cultivated meat producer in Spain. Through this acquisition, JBS SA opened a research and development center for cultivated meat in Brazil.