The North America processed meat products market was valued at USD 20.2 billion in 2022 and is projected to expand at a CAGR of 4.3% from 2023 to 2030. The growth of the market is attributed to the growing demand for convenience food products due to the changing lifestyle of consumers. Growing health consciousness among consumers is also driving the demand for processed meat products. The market is witnessing an increase in the number of product launches with added flavors and health benefits. For instance, in April 2021, Maple Leaf Foods Inc. launched its Good To Go! breakfast line of processed meat products. The product range includes seven products, such as bacon, sausages, and chicken strips, with a variety of flavor options, such as maple bacon, applewood smoked sausage, and honey garlic chicken strips.

The increasing demand for processed and convenience food products due to the busy lifestyle of consumers is propelling the growth of the market. Furthermore, the growing demand for ready-to-eat and ready-to-cook products is also driving the market. The increasing availability of processed meat products in supermarkets and hypermarkets is further fueling the demand for these products. The increasing popularity of food delivery services is also expected to boost the market growth in the coming years.

The growing demand for processed meat products with better nutrition and health benefits is driving the market. Market players are introducing products with added functional ingredients and natural additives in order to meet the growing demand for healthy food products. For instance, in June 2021, Perdue Foods launched a line of “Better For You” processed meat products. The product range includes chicken sausage, deli meat, and burgers with added health benefits, such as reduced sodium and added vitamins.

The increasing demand for organic processed meat products is driving the market. Growing awareness related to the health benefits of organic products is also driving the demand for organic processed meat products. For instance, in January 2021, Maple Leaf Foods Inc. launched a new brand of organic processed meat products, called ‘Organic Meadow’. The product range includes sausages, bacon, and deli meats with no added hormones, antibiotics, or animal by-products.

The increasing use of technology in the supply chain of processed meat products is also driving the market. Digital technologies, such as artificial intelligence (AI) and the Internet of Things (IoT) are being used for the traceability of raw materials and for efficient management of the supply chain. Furthermore, the increasing use of packaging technologies, such as vacuum-packaging, is also driving the market. Vacuum-packaging helps in preserving the meat products for a longer period and also provides convenience to customers.

The processed pork segment accounted for the largest market share in 2019 and is projected to remain the leading segment over the forecast period. Processed pork is the most preferred kind of processed meat due to its high nutritional content and affordability. It is gaining popularity among health-conscious consumers owing to its low-fat content. Increasing preference for convenience food due to busy lifestyles among consumers is driving the demand for processed pork products.

The processed beef segment is expected to register the highest CAGR of 3.9% during the forecast period. Increasing popularity of processed beef products among consumers is boosting the growth of the segment. Beef is the most popular processed meat consumed by North American consumers due to its higher protein content and flavor. In addition, the introduction of innovative products with unique flavors is further driving the demand for processed beef products in the region.

The supermarkets and hypermarkets segment held the major share of over 39.7% in 2022. The growth of this segment is mainly attributed to the presence of processed meat products at these establishments in wide varieties and availability of discounts, promotional offers, and discounts. Moreover, the increasing number of supermarkets and hypermarkets offering processed meat products is further driving the demand for these products. According to a study by the National Retail Federation in 2020, the total number of supermarkets and hypermarkets in the U.S. had increased to nearly 40,000.

The online segment is anticipated to witness the highest CAGR of over 11.5% over the forecast period. The increasing penetration of internet services and the rising number of internet users in the U.S. and Canada are the key factors driving the segment growth. Moreover, companies are also focusing on increasing their presence in the online space. For instance, in April 2021, Smithfield Foods, Inc. launched an online store for selling its products in the U.S. and Canada. The company is offering a range of pork, beef, and deli products through its online store.

The processed pork segment accounted for the largest revenue share of 37.3% in the year 2022. The North American processed meat market is highly fragmented due to the presence of various local and international players in the market. Processed pork products are preferred by a large consumer base. The increasing demand for convenience food, along with changing consumer preferences and rising health consciousness, is fueling the demand for processed meats. In addition, advances in technology and the availability of new flavors are driving the growth of the processed pork segment.

The processed poultry segment is anticipated to expand at the highest CAGR of 8.0% over the forecast period. The rising demand for processed poultry products is due to the increasing health concerns among consumers and the increasing preference for chicken over other meats. The rising popularity of convenience food is also fueling the growth of the segment. In addition, the increasing demand for ready-to-eat food products, such as sandwiches and wraps, is driving the growth of the processed poultry segment.

North America dominated the market and accounted for the largest revenue share of over 43.6% in 2022. This is primarily due to the presence of a large number of processed meat manufacturing companies in the region. Moreover, the high demand for processed meat products among the health-conscious population in the region has been driving the market growth. For instance, in January 2021, Tyson Foods Inc. launched a new line of plant-based products, including nuggets, burgers, and sausages.

Europe is expected to witness the second-fastest growth in the coming years. This growth is attributed to the increasing demand for healthy and natural meat products among health-conscious consumers. The demand for processed meat products is increasing in the region, as it offers convenience and ready-to-eat options. For instance, in November 2020, The Real Meat Company launched plant-based beef and pork products in the UK.

In this part of the North America Processed Meat Products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for the business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a North America Processed Meat Products business comes from the sale of the processed meat products to customers. Here you will find a list with a description of each of the products and other possible sources of profit such as catering services, wholesale sales, and online sales.

Projecting Expenses
In this section, all the regular expenses related to keeping the North America Processed Meat Products business running will be described. The list of operating expenses includes raw material costs, wages, maintenance and repairs, utilities, insurance policies, advertising, and others.

Some of the key companies operating in the North America processed meat market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Smithfield Foods, Inc. launched a line of organic and antibiotic-free processed meat products.

– In August 2022, Tyson Foods, Inc. launched a line of ready-to-eat processed meat products.

– In October 2022, Hormel Foods Corporation launched a line of frozen processed meat products.

Some of the prominent players in the North America processed meat market include:

– Tyson Foods, Inc.
– Smithfield Foods, Inc.
– Hormel Foods Corporation
– JBS S.A.
– Cargill, Inc.
– OSI Group, LLC
– Marfrig Global Foods S.A.
– BRF S.A.
– Pilgrim’s Pride Corporation
– Maple Leaf Foods Inc.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global North American processed meat products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Bacon
– Sausages
– Hot Dogs
– Deli Meats
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Fresh
– Frozen
– Canned

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Key Drivers of the North America Processed Meat Products Market?
[A]: The North America Processed Meat Products market is driven by factors such as the rising demand for convenience food, the increasing number of working women and health-conscious consumers, and the growing popularity of ready-to-eat products. In addition, the introduction of new flavors and varieties of processed meat products, and the increasing demand for value-added processed meat products are also expected to drive market growth.

[Q]: Who are the Leading Players in the North America Processed Meat Products Market?
[A]: Leading players in the North America Processed Meat Products market include Tyson Foods, Inc., Smithfield Foods, Inc., Cargill, Inc., JBS USA Holdings, Inc., and Hormel Foods Corporation.

[Q]: What are the Key Trends in the North America Processed Meat Products Market?
[A]: Key trends in the North America Processed Meat Products market include the increasing demand for natural and organic processed meat products, the rising demand for gluten-free and low-fat processed meat products, and the increasing demand for low sodium processed meat products.

[Q]: What is the Market Potential for North America Processed Meat Products?
[A]: The North America Processed Meat Products market is expected to reach a value of USD 43.2 billion by 2027, with a CAGR of 4.4% over the forecast period.

[Q]: What are the Key Opportunities for Market Participants?
[A]: Key opportunities for market participants include the introduction of new flavors and varieties of processed meat products, and the increasing demand for value-added processed meat products. Additionally, the increasing demand for convenience food, the rising number of working women and health-conscious consumers, and the growing popularity of ready-to-eat products are also expected to present opportunities for market participants.