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Future Market Insights Reveals Processed Meat Market Valued at 349.5B USD in 2023

Future Market Insights Reveals Processed Meat Market Valued at 349.5B USD in 2023


ARLINGTON, VA
Friday, August 25th, 2023

Thanks to increased demand and the rise of home delivery, the processed meat market is seeing a surge in market growth. In a recent market outlook, Future Market Insights (FMI) revealed that the sector is expected to be valued at $349.5 billion in 2023, with value continuing to rise over the next decade.

As stated in the report, the overall demand for processed meat is projected to grow at a CAGR of 6.5 percent between 2023 and 2033, totaling approximately $634.5 billion by the end of the period. This rising demand comes in part due to the preservation techniques of the meat, which suit the fast-paced lifestyles of urban consumers.

Future Market Insights (FMI) revealed that the sector is expected to be valued at $349.5 billion in 2023, with value continuing to rise over the next decade

The time required to cook and serve raw meat will likely continue to aid in the rising popularity of processed meat. Additionally, the report points to the expanding prominence of hot dogs and other processed meat items in the global food sector, which is creating more growth opportunities for the category. The global processed meat market is expected to see an upsurge due to existing fast-food practices' dominance.

Globally, the demand for processed meat is projected to increase at a CAGR of 6.3 percent between 2023 and 2033, reaching a total of $605.14 billion in 2033. From 2018 to 2022, the sector witnessed significant growth, recording a CAGR of 6.5 percent.

To read more about the rise of processed meat and its growth, click here.

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Future Market Insights
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