Processed Food Market by Type (Secondary Processed Food and Ultra Processed Food), Technology (Drying, Extrusion, Freezing, Grinding, and Other Technology), Product Type and Region - Global Forecast to 2027
According to MarketsandMarkets, the global processed food market is estimated to be valued at USD 1,991.3 billion in 2022 and is projected to reach USD 2,577.9 billion by 2027. The market is expected to grow with a CAGR of 5.3%, in terms of value between 2022 and 2027. Processed food refers to any food that has been changed from its natural state. Increasing demand for processed food can be attributed to the changing lifestyle, growing population, and rapid urbanization.
Processed Food Market Dynamics
Drivers: Changing lifestyle is fueling the demand for processed food
Over the years, lifestyle of consumers has changed. Working population and out of home consumption in urban areas has seen a tremendous rise. These factors are driving the demand for processed foods. Along with this, better processing technologies and improved packaging of processed food products are creating more growth prospects for the market.
Restraints: Health risks associated with processed food
Various health risks and diseases are linked with the consumption of processed food. The ultra-processed foods contain more of calories, sugar, and sodium which are directly linked with diseases including cardiovascular disease, diabetes, and cancer. Processed food are less original and unhealthy as they contain sodium containing additives.
Opportunities: Demand for innovative food products to create opportunities
The demand for innovative and enhanced processed food products such as organic food clean-label food ingredients, vegan food, dairy-free products, and others are expected to create growth opportunities for processed food manufacturers. Companies operating in the market are focused on R&D and providing innovative processed food products.
Challenges: Availability of raw materials
For producing processed food products, availability of agricultural produces is very crucial. However, due to seasonal availability of certain vegetation, the processed food industry gets affected. Along with this, high cost of raw materials also acts as a major challenge for processed food industry.
By product type, meat & poultry segment is projected to dominate the global processed food market during the forecast period.
Meat & poultry products are widely consumed across all the region as it a rich source of protein. Processed meat & poultry products makes the consumption process much easier as lesser preparation time is required. Processed meat & poultry food makes it very convenient for consumers in managing their hectic lifestyles.
By technology, freezing segment is likely to account for the largest market share during the forecast period.
Freezing as a processing technology is widely used in the food & beverage industry. Frozen processed food products have extended shelf life which makes them easy to handle and store for longer periods of time.
Asia Pacific region is expected to witness a significant growth in the forecasted period, in the global processed food market. Government is taking various initiatives to boost the food & beverage sector in the region. Rising population and consumption of convenience food products in region is expected to drive the growth of processed food market in the region.
Key Market Players:
Key players in this market include Unilever (UK), Nestle SA (Switzerland), The Kraft Heinz Company (US), JBS Foods (Brazil), Tyson Foods, Inc. (US), Conagra Brands Inc. (US), Kellogg Co. (US) and Mars (US).
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TABLE OF CONTENTS
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.4 REGIONAL SEGMENTATION
1.5 PERIODIZATION CONSIDERED
1.6 CURRENCY CONSIDERED
1.7 VOLUME UNITS CONSIDERED
1.8 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key Data from Secondary Sources
2.1.2 PRIMARY DATA
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 MARKET SIZE ESTIMATION
2.2.1 MARKET SIZE ESTIMATION - METHOD 1
2.2.2 MARKET SIZE ESTIMATION - METHOD 2
2.3 DATA TRIANGULATION
2.4 ASSUMPTIONS FOR THE STUDY
2.5 LIMITATIONS OF THE STUDY
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.2 RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.4 CHALLENGES
6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
6.3 TECHNOLOGY ANALYSIS
6.4 PRICING ANALYSIS
6.5 ECOSYSTEM/ MARKET MAP
6.6 TRENDS/ DISRUPTION IMPACTING THE CUSTOMER’S BUSINESS
6.7 PATENT ANALYSIS
6.8 TRADE ANALYSIS
6.9 KEY CONFERENCES AND EVENTS IN 2022-2023
6.1 TARIFF AND REGULATORY LANDSCAPE
6.11 PORTER’S FIVE FORCES ANALYSIS
6.12 KEY STAKEHOLDERS & BUYING CRITERIA
6.13 CASE STUDY ANALYSIS
7 PROCESSED FOOD MARKET, BY TYPE
7.1 INTRODUCTION
7.2 SECONDARY PROCESSED FOOD
7.3 ULTRA PROCESSED FOOD
8 PROCESSED FOOD MARKET, BY TECHNOLOGY
8.1 INTRODUCTION
8.2 DRYING
8.3 EXTRUSION
8.4 FREEZING
8.5 GRINDING
8.6 OTHER TECHNOLOGY
9 PROCESSED FOOD MARKET, BY PRODUCT TYPE
9.1 INTRODUCTION
9.2 FRUITS & VEGETABLES
9.3 GRAINS & CEREALS
9.4 DAIRY PRODUCTS
9.5 MEAT & POULTRY
9.6 MARINE PRODUCTS
9.7 OTHER PRODUCT TYPES
10 PROCESSED FOOD MARKET, BY REGION
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 US
10.2.2 CANADA
10.2.3 MEXICO
10.3 EUROPE
10.3.1 GERMANY
10.3.2 FRANCE
10.3.3 UK
10.3.4 ITALY
10.3.5 SPAIN
10.3.6 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 CHINA
10.4.2 INDIA
10.4.3 JAPAN
10.4.4 AUSTRALIA & NEW ZEALAND
10.4.5 REST OF ASIA PACIFIC
10.5 SOUTH AMERICA
10.5.1 BRAZIL
10.5.2 ARGENTINA
10.5.3 REST OF SOUTH AMERICA
10.6 REST OF THE WORLD
10.6.1 AFRICA
10.6.2 MIDDLE EAST
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 MARKET SHARE ANALYSIS*
11.3 KEY PLAYERS STRATEGIES
11.4 COMPANY REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS
11.5 COMPANY EVALUATION QUADRANT
11.5.1 STARS
11.5.2 EMERGING LEADERS
11.5.3 PERVASIVE PLAYERS
11.5.4 PARTICIPANTS
11.5.5 COMPETITIVE BENCHMARKING
11.6 PRODUCT FOOTPRINTS
11.7 STARTUP/SME EVALUATION QUADRANT
11.7.1 PROGRESSIVE COMPANIES
11.7.2 STARTING BLOCKS
11.7.3 RESPONSIVE COMPANIES
11.7.4 DYNAMIC COMPANIES
11.8 PRODUCT LAUNCHES, DEALS, AND OTHER DEVELOPMENTS
11.8.1 NEW PRODUCT LAUNCHES
11.8.2 DEALS
11.8.3 OTHER DEVELOPMENTS
11.8.4 PARTNERSHIPS, COLLABORATIONS, AND JOINT VENTURES
12 COMPANY PROFILES
12.1 UNILEVER
12.2 NESTLE SA
12.3 THE KRAFT HEINZ COMPANY
12.4 JBS FOODS
12.5 TYSON FOODS, INC.
12.6 CONAGRA BRANDS INC.
12.7 KELLOGG CO.
12.8 HORMEL FOODS CORPORATION
12.9 MAPLE LEAF FOODS INC.
12.10 MARS
Note: Currently, list of only 10 companies have been provided. However, this section covers 12-15 key company profiles which include business overview, recent financials, product offerings, key strategies, and swot analysis. recent financials can be provided based on data/information availability in public domain. The list of companies mentioned above can be altered depending upon client’s interest
13 APPENDIX
Note: The TOC prepared above is tentative and may subject to change, based on the research progress
Growth opportunities and latent adjacency in Processed Food Market