The meat market has remained buoyant due to the steady increase in demand for animal protein. As a result, demand for go-along items such as meat tenderizer powder has increased. Because they were early adopters, developed countries have a significant market for meat tenderizer powder. Because developing countries are spending more on meat products than developed countries, demand for meat tenderizer powder has been surpassing that of developed countries.
Analysis of Processed Meat Consumption from 2016 to 2020 vs. Market Forecasts (2021 to 2031)
According to Fact.MR, a market research and competitive intelligence firm, the global market value for processed meat has grown at a CAGR of roughly 3.5 percent over the last half-decade, owing to increased technological innovation in food processing across regions, particularly in Europe.
Meanwhile, over the forecast period of 2021 to 2031, processed meat sales are expected to grow at a substantial CAGR of roughly 4.6 percent. Increased demand for packaged foods is driving up demand for processed meat in different parts of the country.
The demand for halal meat, which is an important element of Muslim culture, is growing all the time. Nearly all beef products in the Middle East and North Africa are automatically halal, while demand for halal-certified items is growing in Asia Pacific, which has a substantial Muslim population.
In countries such as France, Germany, and the United Kingdom, rising demand for halal meat manifests itself in a variety of ways. Halal-certified meat is sold in Turkish or Arabic specialised stores, which take advantage of these chances. As a result, the sale of halal processed meat has expanded across Europe.
What are the effects of rising affluence and healthy eating trends on processed beef sales?
Emerging countries like China and India are expected to contribute significantly to the global meat and poultry industry’s expansion due to increased income and healthy eating trends. Packaged ground beef is considered hygienic and of acceptable quality because it is sold by well-known companies like the WH Group in China and Godrej Tyson Foods Ltd in India.
In response to rising consumer demand for more fresh and healthier processed meat products, these firms have gradually shifted their focus from shelf-stable to chilled processed meat.
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