The processed meat market is predicted to develop at an impressive 6.5% CAGR from 2023 to 2033, exceeding the lower 6.1% CAGR witnessed between 2018 and 2022. This significant rise shows the rise in demand for the processed meat industry, increasing the market value from US$ 349.5 billion in 2023 to US$ 634.5 billion by 2033.
The demand for fresh processed meat has been driven by varying preservation methods and urban consumers’ preference for convenience. Hot dogs’ popularity and fast-paced lifestyles both contribute to the potential for growth in the worldwide processed meat business, which is supported by current fast-food standards.
The rapid growth of fast-food chains in developed areas, together with low-cost meal plans and promotions, has greatly aided in the rise in processed meat consumption. The inclination for quick meal options and the rising incomes of urban populations have helped to increase the demand for processed meat on the global market.
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