Europe processed meat market is anticipated to witness a CAGR of 2.47% during the forecast period (2020-2025).
- The market is anticipated to be driven by a rise in the consumption of white meat i.e poultry followed by pork and beef.
- Although the popularity of vegan is on the rise, the premiumization of processed meat is expected to ramp up retail sales.
- The rapid growth of the e-commerce sector will also aid the growth of the market by offering a wide array of meat snacks for online purchases.
Key Market Trends
Germany's Stronghold Position in the Processed Meat Consumption
Driven by the dynamic food industry in Germany, which is assertive, and balanced, while developing new products that address the demands of the domestic and export markets, the processed meat market in Germany is expected to witness significant growth. On a comparative note, Germany still has the lowest prices in accordance with EU-28, where overall, German's spend less than 12% of their income on food and beverages. On the other hand, the same set of consumers eat approximately 17.2 kg of processed meat per year, which is one of the highest in the European region.
Premiumization Driving Demand Through Online Retail
Processed meat sector in Europe at present and over the forecast period is expected to be driven by product premiumization, where, meat consumption still remains a popular inclusion across different palates. However, in the near future, the "less but better" concept is likely to creep in, where the widespread "quality over quantity" mindsets are prevalent in the market. The approach is particularly strong among health-conscious and flexitarian consumers where the success of premium processed meat products is anticipated to scale up amid the meat reduction trends in the region. The growing preferecne for premium processed brands ececially through online retail channels is one of those key factors driving the market.
Companies are considerably investing within the target segment, which includes clean-labeled processed meat products, for the increasing number of health-conscious consumers. Thus, the major players are embarking on product development as one of their key strategies to achieve consolidation and optimize their offerings. Moreover, players are increasing their presence in the region through acquisitions and expanding their capacities. Technological inputs have been at the forefront, which led many regional players to improvise and move ahead in this competitive industry. For instance, in Russia, the Cherkizovo Group launched a robotized dry sausage plant near Kashira.
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