According to the recently published report by Absolute Market Research, the global smoked meats market is projected to achieve a remarkable milestone, The market is expected to reach a value of US$ 32.5 billion by 2023, reaching US$ 958 million by the year 2030. This growth is expected to be sustained at a Compound Annual Growth Rate (CAGR) of 3.0% from 2023 to 2030, showcasing a promising trajectory for businesses operating in this space.

The driving forces behind this upward trend are multifaceted. Consumers' increasing inclination towards flavorful and convenient meat products has significantly contributed to the surge in demand for smoked meats. This aligns with evolving consumer preferences for unique and premium food experiences. The report also highlights the rising popularity of barbecue and smoking as preferred cooking methods, underscoring a broader cultural shift towards outdoor cooking and the pursuit of distinctive taste profiles.

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Smoked meats are a type of meat that has been seasoned and cured, and then smoked over wood chips or pellets. This process imparts a unique flavor and aroma to the meat, and also helps to preserve it. Smoked meats are a popular choice for appetizers, main courses, and snacks.

The growing demand for flavorful and convenient meat products is one of the key drivers of the smoked meats market. Consumers are increasingly looking for meat products that are both delicious and easy to prepare. Smoked meats fit the bill perfectly, as they are both flavorful and can be cooked in a variety of ways.

The increasing popularity of barbecue and smoking as cooking methods is also driving the smoked meats market. Barbecue and smoking are becoming increasingly popular cooking methods, as they allow consumers to cook meat slowly and evenly, resulting in a tender and flavorful product.

As the global smoked meats market continues on its growth trajectory, Absolute Market Research looks forward to being at the forefront of innovation and excellence in delivering exceptional smoked meat products to consumers worldwide.

Key Takeaways:

  • The smoked meats market is expected to reach a value of US$ 32.5 billion by 2023, to grow at a CAGR of 3.0% from 2023 to 2030, reaching a value of US$ 958 million by 2030.
  • The growth of the market is being driven by the increasing demand for smoked meats as a convenient and flavorful snack or meal option.
  • The Asia-Pacific region is expected to be the fastest-growing market for smoked meats, due to the rising disposable incomes and urbanization rates in the region.
  • The United States is the largest market for smoked meats, followed by Europe and Asia-Pacific.

Regional Outlook:

  • North America: The North American smoked meats market is expected to grow at a CAGR of 2.5% from 2023 to 2030, reaching a value of US$ 385 million by 2030. The growth of the market is being driven by the increasing popularity of smoked meats in the region, particularly in the United States.
  • Europe: The European smoked meats market is expected to grow at a CAGR of 2.0% from 2023 to 2030, reaching a value of US$ 320 million by 2030. The growth of the market is being driven by the increasing demand for smoked meats as a snack or meal option, as well as the growing popularity of smoked meats in the region.
  • Asia-Pacific: The Asia-Pacific smoked meats market is expected to grow at a CAGR of 4.0% from 2023 to 2030, reaching a value of US$ 253 million by 2030. The growth of the market is being driven by the rising disposable incomes and urbanization rates in the region, as well as the growing popularity of smoked meats in the region.

Key Players:

  • Hormel Foods
  • Tyson Foods
  • Smithfield Foods
  • JBS S.A.
  • Cargill
  • Maple Leaf Foods
  • OSI Group
  • OSI International
  • Danish Crown
  • Tönnies Holding GmbH

Key Segmentation:

Product Type:

  • Smoked Sausages
  • Smoked Ham
  • Smoked Turkey
  • Other Smoked Meat Products

Distribution Channel:

  • Supermarkets/Hypermarkets
  • Specialty Stores
  • Online Retail
  • Convenience Stores
  • Others

End User:

  • Residential
  • Commercial (HoReCa - Hotels, Restaurants, Catering)
  • Smoking Technique:
  • Cold Smoking
  • Hot Smoking
  • Combination Smoking

Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa