Rapid urbanization, busy schedules drive processed meat market growth
The processed meat market in the US is projected to grow at a CAGR of 2.26 percent from 2016-2020, according to a recent report from Research and Markets.
In the last decade, changing lifestyles due to rapid urbanization and shortage of time have led to high demand for packaged and convenience foods, analysts said. Packaged foods take less time and effort to cook, and have enhanced food nutrition and durability. Processed meats are prepared for safe and easy consumption for consumers in the US.
“The processed meat market in the US is witnessing a strong trend toward the rise of private label processed meat products,” reported analysts. “Private label meat products are being stocked at retail stores and are available at lower prices compared to branded products, which are very appealing to consumers.”
However, the growth of processed meats—which are products that are preserved by salting, smoking, curing or adding chemical preservatives—will be slowed in the coming years as some consumers abandon these products in favor of perceived healthier alternatives after recent reports linked processed meats with adverse health risks.
The Research and Markets report covers the present scenario and the growth prospects of the processed meat market in the US for the period 2015-2020. To calculate the market size, the report considers the volume consumption of processed meat by meat type such as chilled processed meat, frozen processed poultry, canned/preserved meat and meat products, and frozen processed red meat in the US.