Processed Meat Market is Rising at 8.4% CAGR and Estimated to be Worth US$1.5 bn by 2024

Processed Meat Market is Rising at 8.4% CAGR and Estimated to be Worth US$1.5 bn by 2024

  • Submitted By: amyjames
  • Date Submitted: 09/22/2016 11:40 PM
  • Category: Business
  • Words: 1758
  • Page: 8

Transparency Market

Processed Meat Market - GCC Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2016 - 2024

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Press Release
Growing Retail Sector Plays Major Role in Driving Sales of Processed
Meat in GCC, finds TMR

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Processed Meat Market


The GCC processed meat market is rather fragmented and the top six players accounted for a share of just
under 35% in 2015. These players are National Food Co., Al Islami Foods, Sunbulah Group, BRF SA, Gulf
Food Industries, and Almunajem. Transparency Market Research notes a strong presence of several of
these companies in the GCC region.
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An increasing number of vendors in the processed meat market have been concentrating on diversifying
their product portfolio through product innovation and development. Understanding the requirements of
the consumers and end users is key in this regard. In July 2015, BRF SA brand Perdigão introduced its line
of smoked sausages, hams, and pork cuts.
The opportunity in the GCC processed meat market was pegged at US$760.7 mn in 2015 and, rising at an
8.4% CAGR, is estimated to be worth US$1.5 bn by 2024.
Rest of GCC to Continue its Lead in GCC Processed Meat Market
Based on type of meat, the GCC processed meat market was led by poultry, which accounted for over 43%
in 2015 in terms of revenue. Lamb, on the other hand, is anticipated to register a strong growth rate of
8.9% from 2016 to 2024. In terms of volume as well, poultry leads the GCC process meat market while the
lamb segment will expand at a rapid pace.
By type of product, frozen...

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