European Union's Processed Meat Market to Grow at a CAGR of +1.3% Over the Next Decade - News and Statistics - IndexBox

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The European Union's processed meat market is poised for growth, with a projected CAGR of +1.3% in volume and +2.6% in value from 2024 to 2035. This growth is attributed to rising demand for processed meat products in the region, leading to an upward consumption trend. By the end of 2035, market volume is forecasted to hit 23 million tons and market value to reach $125.7 billion.

Driven by rising demand for processed meat in the European Union, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.3% for the period from 2024 to 2035, which is projected to bring the market volume to 23M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.6% for the period from 2024 to 2035, which is projected to bring the market value to $125.7B (in nominal wholesale prices) by the end of 2035.

Processed meat consumption skyrocketed to 20M tons in 2024, picking up by 39% compared with the previous year. In general, consumption, however, recorded a noticeable reduction. The volume of consumption peaked at 28M tons in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The revenue of the processed meat market in the European Union skyrocketed to $94.6B in 2024, increasing by 62% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a pronounced descent. Over the period under review, the market hit record highs at $139.8B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

Germany (5.3M tons) remains the largest processed meat consuming country in the European Union, comprising approx. 26% of total volume. Moreover, processed meat consumption in Germany exceeded the figures recorded by the second-largest consumer, Spain (2.6M tons), twofold. France (2.4M tons) ranked third in terms of total consumption with a 12% share.

From 2013 to 2024, the average annual growth rate of volume in Germany totaled -2.2%. The remaining consuming countries recorded the following average annual rates of consumption growth: Spain (+0.9% per year) and France (-3.8% per year).

In value terms, the largest processed meat markets in the European Union were Germany ($18.7B), France ($15B) and Spain ($13.9B), together comprising 50% of the total market.

Spain, with a CAGR of +1.2%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other leaders experienced a decline in the market figures.

The countries with the highest levels of processed meat per capita consumption in 2024 were Germany (64 kg per person), Spain (54 kg per person) and Sweden (49 kg per person).

From 2013 to 2024, the biggest increases were recorded for Spain (with a CAGR of +0.8%), while consumption for the other leaders experienced a decline in the per capita consumption figures.

Prepared or preserved meat (13M tons) constituted the product with the largest volume of consumption, comprising approx. 64% of total volume. Moreover, prepared or preserved meat exceeded the figures recorded for the second-largest type, sausages and similar products of meat (3.2M tons), fourfold. The third position in this ranking was held by salted, dried or smoked meat, and offal (2.7M tons), with a 14% share.

For prepared or preserved meat, consumption declined by an average annual rate of -2.7% over the period from 2013-2024. For the other products, the average annual rates were as follows: sausages and similar products of meat (-3.5% per year) and salted, dried or smoked meat, and offal (-0.4% per year).

In value terms, prepared or preserved meat ($58.7B) led the market, alone. The second position in the ranking was held by salted, dried or smoked meat, and offal ($16.7B). It was followed by sausages and similar products of meat.

From 2013 to 2024, the average annual rate of growth in terms of the value of prepared or preserved meat market totaled -3.5%. With regard to the other consumed products, the following average annual rates of growth were recorded: salted, dried or smoked meat, and offal (+0.5% per year) and sausages and similar products of meat (-4.1% per year).

In 2024, approx. 21M tons of processed meat were produced in the European Union; with an increase of 36% on the previous year's figure. Overall, production, however, saw a pronounced shrinkage. The volume of production peaked at 29M tons in 2022; however, from 2023 to 2024, production remained at a lower figure.

In value terms, processed meat production skyrocketed to $99.4B in 2024 estimated in export price. Over the period under review, production, however, showed a perceptible downturn. Over the period under review, production attained the peak level at $147.1B in 2022; however, from 2023 to 2024, production remained at a lower figure.

The country with the largest volume of processed meat production was Germany (5.3M tons), comprising approx. 26% of total volume. Moreover, processed meat production in Germany exceeded the figures recorded by the second-largest producer, Spain (2.7M tons), twofold. Italy (2.6M tons) ranked third in terms of total production with a 12% share.

In Germany, processed meat production decreased by an average annual rate of -2.2% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Spain (+1.2% per year) and Italy (-0.5% per year).

Prepared or preserved meat (13M tons) constituted the product with the largest volume of production, accounting for 64% of total volume. Moreover, prepared or preserved meat exceeded the figures recorded for the second-largest type, sausages and similar products of meat (3.5M tons), fourfold. The third position in this ranking was taken by salted, dried or smoked meat, and offal (2.8M tons), with a 13% share.

From 2013 to 2024, the average annual growth rate of the volume of prepared or preserved meat production stood at -2.6%. For the other products, the average annual rates were as follows: sausages and similar products of meat (-3.3% per year) and salted, dried or smoked meat, and offal (-0.6% per year).

In value terms, prepared or preserved meat ($61.3B) led the market, alone. The second position in the ranking was held by salted, dried or smoked meat, and offal ($18.1B). It was followed by sausages and similar products of meat.

For prepared or preserved meat, production contracted by an average annual rate of -3.4% over the period from 2013-2024. For the other products, the average annual rates were as follows: salted, dried or smoked meat, and offal (+0.5% per year) and sausages and similar products of meat (-4.4% per year).

In 2024, purchases abroad of processed meat decreased by -13.3% to 2.7M tons, falling for the second year in a row after two years of growth. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when imports increased by 9% against the previous year. As a result, imports attained the peak of 3.1M tons. From 2023 to 2024, the growth of imports failed to regain momentum.

In value terms, processed meat imports fell to $14.6B in 2024. Total imports indicated a temperate expansion from 2013 to 2024: its value increased at an average annual rate of +2.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2023 when imports increased by 16% against the previous year. As a result, imports attained the peak of $17B, and then dropped in the following year.

The countries with the highest levels of processed meat imports in 2024 were the Netherlands (464K tons), Germany (357K tons) and France (314K tons), together finishing at 43% of total import. Belgium (200K tons) took the next position in the ranking, followed by Spain (169K tons) and Ireland (164K tons). All these countries together took near 20% share of total imports. The following importers - Denmark (94K tons), Portugal (93K tons), Austria (84K tons) and Italy (80K tons) - together made up 13% of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Portugal (with a CAGR of +5.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($2.2B), France ($2.1B) and the Netherlands ($2B) constituted the countries with the highest levels of imports in 2024, together accounting for 43% of total imports. Belgium, Spain, Ireland, Denmark, Austria, Italy and Portugal lagged somewhat behind, together accounting for a further 34%.

Among the main importing countries, Portugal, with a CAGR of +6.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

In 2024, prepared or preserved meat (1.3M tons) was the largest type of processed meat, making up 48% of total imports. Sausages and similar products of meat (528K tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by salted, dried or smoked meat, and offal (20%) and pasta stuffed with meat, fish and cheese (13%).

Prepared or preserved meat experienced a relatively flat trend pattern with regard to volume of imports. At the same time, pasta stuffed with meat, fish and cheese (+4.1%) and sausages and similar products of meat (+1.4%) displayed positive paces of growth. Moreover, pasta stuffed with meat, fish and cheese emerged as the fastest-growing type imported in the European Union, with a CAGR of +4.1% from 2013-2024. Salted, dried or smoked meat, and offal experienced a relatively flat trend pattern. Pasta stuffed with meat, fish and cheese (+4.1 p.p.) and sausages and similar products of meat (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while prepared or preserved meat saw its share reduced by -4.8% from 2013 to 2024, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, prepared or preserved meat ($7B) constitutes the largest type of processed meat imported in the European Union, comprising 48% of total imports. The second position in the ranking was taken by sausages and similar products of meat ($3.2B), with a 22% share of total imports. It was followed by salted, dried or smoked meat, and offal, with a 21% share.

From 2013 to 2024, the average annual growth rate of the value of prepared or preserved meat imports totaled +1.6%. For the other products, the average annual rates were as follows: sausages and similar products of meat (+3.0% per year) and salted, dried or smoked meat, and offal (+1.6% per year).

In 2024, the import price in the European Union amounted to $5,487 per ton, almost unchanged from the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2023 when the import price increased by 16%. As a result, import price attained the peak level of $5,539 per ton, leveling off in the following year.

Prices varied noticeably by the product type; the product with the highest price was sausages and similar products of meat ($6,068 per ton), while the price for pasta stuffed with meat, fish and cheese ($3,972 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by prepared or preserved meat (+2.0%), while the other products experienced more modest paces of growth.

In 2024, the import price in the European Union amounted to $5,487 per ton, therefore, remained relatively stable against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2023 when the import price increased by 16% against the previous year. As a result, import price attained the peak level of $5,539 per ton, leveling off in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($6,744 per ton), while the Netherlands ($4,289 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Denmark (+4.0%), while the other leaders experienced more modest paces of growth.

In 2024, shipments abroad of processed meat decreased by -14.9% to 3.4M tons, falling for the second consecutive year after six years of growth. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 5.7%. Over the period under review, the exports attained the peak figure at 4.1M tons in 2022; however, from 2023 to 2024, the exports stood at a somewhat lower figure.

In value terms, processed meat exports reduced to $20.7B in 2024. Total exports indicated a temperate expansion from 2013 to 2024: its value increased at an average annual rate of +2.5% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +48.1% against 2016 indices. The pace of growth was the most pronounced in 2023 when exports increased by 15%. As a result, the exports attained the peak of $23.5B, and then declined in the following year.

The shipments of the nine major exporters of processed meat, namely the Netherlands, Poland, Germany, Italy, Spain, Belgium, Denmark, France and Ireland, represented more than two-thirds of total export.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Poland (with a CAGR of +5.6%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($3.3B), Germany ($2.7B) and the Netherlands ($2.5B) appeared to be the countries with the highest levels of exports in 2024, together comprising 41% of total exports. Poland, Spain, Belgium, France, Ireland and Denmark lagged somewhat behind, together comprising a further 43%.

Poland, with a CAGR of +8.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Prepared or preserved meat was the largest type of processed meat in the European Union, with the volume of exports amounting to 1.6M tons, which was approx. 47% of total exports in 2024. It was distantly followed by sausages and similar products of meat (795K tons), salted, dried or smoked meat, and offal (591K tons) and pasta stuffed with meat, fish and cheese (407K tons), together comprising a 53% share of total exports.

Prepared or preserved meat experienced a relatively flat trend pattern with regard to volume of exports. At the same time, pasta stuffed with meat, fish and cheese (+3.7%) displayed positive paces of growth. Moreover, pasta stuffed with meat, fish and cheese emerged as the fastest-growing type exported in the European Union, with a CAGR of +3.7% from 2013-2024. Sausages and similar products of meat experienced a relatively flat trend pattern. By contrast, salted, dried or smoked meat, and offal (-1.1%) illustrated a downward trend over the same period. From 2013 to 2024, the share of pasta stuffed with meat, fish and cheese increased by +3.4 percentage points. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, the largest types of exported processed meat were prepared or preserved meat ($9.4B), sausages and similar products of meat ($5.1B) and salted, dried or smoked meat, and offal ($4.4B), with a combined 91% share of total exports. These products were followed by pasta stuffed with meat, fish and cheese, which accounted for a further 8.7%.

In terms of the main exported products, pasta stuffed with meat, fish and cheese, with a CAGR of +6.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced more modest paces of growth.

The export price in the European Union stood at $6,072 per ton in 2024, picking up by 3.2% against the previous year. Over the last eleven years, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2023 an increase of 17%. The level of export peaked in 2024 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exported products. In 2024, the product with the highest price was salted, dried or smoked meat, and offal ($7,421 per ton), while the average price for exports of pasta stuffed with meat, fish and cheese ($4,412 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by salted, dried or smoked meat, and offal (+2.3%), while the other products experienced more modest paces of growth.

In 2024, the export price in the European Union amounted to $6,072 per ton, with an increase of 3.2% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2023 when the export price increased by 17%. Over the period under review, the export prices reached the peak figure in 2024 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Italy ($8,299 per ton), while Denmark ($5,001 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Ireland (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the processed meat market in the EU. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

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