United States's Processed Meat Market: Continued Growth Expected with Market Volume to Reach 25M Tons and Value to Hit $104.4B by 2035 - News and Statistics - IndexBox

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Driven by rising demand, the processed meat market in the United States is expected to see steady growth in both volume and value over the next decade. With an anticipated CAGR of +1.3% for volume and +1.4% for value from 2024 to 2035, the market is forecasted to reach 25M tons and $104.4B by the end of 2035, respectively.

Driven by increasing demand for processed meat in the United States, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.3% for the period from 2024 to 2035, which is projected to bring the market volume to 25M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.4% for the period from 2024 to 2035, which is projected to bring the market value to $104.4B (in nominal wholesale prices) by the end of 2035.

In 2024, the amount of processed meat consumed in the United States reduced to 22M tons, approximately equating the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the consumption volume increased by 6.5% against the previous year. As a result, consumption reached the peak volume of 22M tons. From 2022 to 2024, the growth of the consumption failed to regain momentum.

The revenue of the processed meat market in the United States amounted to $89.5B in 2024, almost unchanged from 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). The market value increased at an average annual rate of +2.6% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when the market value increased by 7.7% against the previous year. Processed meat consumption peaked at $90.5B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

Prepared or preserved meat (16M tons) constituted the product with the largest volume of consumption, comprising approx. 74% of total volume. Moreover, prepared or preserved meat exceeded the figures recorded for the second-largest type, sausages and similar products of meat (3.4M tons), fivefold. Salted, dried or smoked meat, and offal (1.7M tons) ranked third in terms of total consumption with an 8% share.

From 2013 to 2024, the average annual rate of growth in terms of the volume of prepared or preserved meat consumption was relatively modest. With regard to the other consumed products, the following average annual rates of growth were recorded: sausages and similar products of meat (+4.5% per year) and salted, dried or smoked meat, and offal (-1.5% per year).

In value terms, prepared or preserved meat ($66.6B) led the market, alone. The second position in the ranking was taken by sausages and similar products of meat ($14.1B). It was followed by salted, dried or smoked meat, and offal.

From 2013 to 2024, the average annual growth rate of the value of prepared or preserved meat market amounted to +2.2%. With regard to the other consumed products, the following average annual rates of growth were recorded: sausages and similar products of meat (+5.6% per year) and salted, dried or smoked meat, and offal (+1.3% per year).

In 2024, the amount of processed meat produced in the United States declined modestly to 22M tons, standing approx. at the previous year. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 6.7% against the previous year. Over the period under review, production reached the maximum volume at 23M tons in 2017; however, from 2018 to 2024, production remained at a lower figure.

In value terms, processed meat production amounted to $92.5B in 2024. The total output value increased at an average annual rate of +2.7% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 9%. Over the period under review, production hit record highs at $93.5B in 2022; however, from 2023 to 2024, production stood at a somewhat lower figure.

Prepared or preserved meat (16M tons) constituted the product with the largest volume of production, accounting for 74% of total volume. Moreover, prepared or preserved meat exceeded the figures recorded for the second-largest type, sausages and similar products of meat (3.6M tons), fivefold. The third position in this ranking was held by salted, dried or smoked meat, and offal (1.8M tons), with an 8% share.

From 2013 to 2024, the average annual growth rate of the volume of prepared or preserved meat production was relatively modest. With regard to the other produced products, the following average annual rates of growth were recorded: sausages and similar products of meat (+4.2% per year) and salted, dried or smoked meat, and offal (-1.6% per year).

In value terms, prepared or preserved meat ($68.5B) led the market, alone. The second position in the ranking was held by sausages and similar products of meat ($14.8B). It was followed by salted, dried or smoked meat, and offal.

From 2013 to 2024, the average annual rate of growth in terms of the value of prepared or preserved meat production amounted to +2.4%. With regard to the other produced products, the following average annual rates of growth were recorded: sausages and similar products of meat (+5.5% per year) and salted, dried or smoked meat, and offal (+1.5% per year).

Processed meat imports into the United States totaled 288K tons in 2024, surging by 3.9% on the year before. Overall, imports recorded prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 27% against the previous year. Over the period under review, imports attained the peak figure in 2024 and are expected to retain growth in the immediate term.

In value terms, processed meat imports reached $2.2B in 2024. In general, imports showed a strong expansion. The growth pace was the most rapid in 2021 when imports increased by 30% against the previous year. Over the period under review, imports reached the peak figure in 2024 and are likely to see steady growth in years to come.

In 2024, Canada (132K tons) constituted the largest supplier of processed meat to the United States, accounting for a 46% share of total imports. Moreover, processed meat imports from Canada exceeded the figures recorded by the second-largest supplier, Brazil (38K tons), threefold. Italy (35K tons) ranked third in terms of total imports with a 12% share.

From 2013 to 2024, the average annual rate of growth in terms of volume from Canada amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+4.2% per year) and Italy (+10.8% per year).

In value terms, Canada ($920M) constituted the largest supplier of processed meat to the United States, comprising 42% of total imports. The second position in the ranking was taken by Brazil ($384M), with a 17% share of total imports. It was followed by Italy, with a 16% share.

From 2013 to 2024, the average annual rate of growth in terms of value from Canada stood at +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+4.9% per year) and Italy (+10.3% per year).

In 2024, prepared or preserved meat (185K tons) constituted the largest type of processed meat supplied to the United States, accounting for a 64% share of total imports. Moreover, prepared or preserved meat exceeded the figures recorded for the second-largest type, salted, dried or smoked meat, and offal (40K tons), fivefold. Pasta stuffed with meat, fish and cheese (38K tons) ranked third in terms of total imports with a 13% share.

From 2013 to 2024, the average annual rate of growth in terms of the volume of prepared or preserved meat imports stood at +6.6%. With regard to the other supplied products, the following average annual rates of growth were recorded: salted, dried or smoked meat, and offal (+6.3% per year) and pasta stuffed with meat, fish and cheese (+9.0% per year).

In value terms, prepared or preserved meat ($1.5B) constituted the largest type of processed meat supplied to the United States, comprising 66% of total imports. The second position in the ranking was held by salted, dried or smoked meat, and offal ($401M), with an 18% share of total imports. It was followed by pasta stuffed with meat, fish and cheese, with a 9% share.

From 2013 to 2024, the average annual growth rate of the value of prepared or preserved meat imports amounted to +8.0%. With regard to the other supplied products, the following average annual rates of growth were recorded: salted, dried or smoked meat, and offal (+8.4% per year) and pasta stuffed with meat, fish and cheese (+9.6% per year).

The average processed meat import price stood at $7,679 per ton in 2024, surging by 4.4% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2021 an increase of 11%. Over the period under review, average import prices hit record highs in 2024 and is expected to retain growth in the near future.

Prices varied noticeably by the product type; the product with the highest price was salted, dried or smoked meat, and offal ($10,052 per ton), while the price for pasta stuffed with meat, fish and cheese ($5,232 per ton) was amongst the lowest.

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

The average processed meat import price stood at $7,679 per ton in 2024, with an increase of 4.4% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 11%. The import price peaked in 2024 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was Spain ($12,841 per ton), while the price for Chile ($3,706 per ton) was amongst the lowest.

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

In 2024, overseas shipments of processed meat were finally on the rise to reach 594K tons for the first time since 2021, thus ending a two-year declining trend. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 21%. The exports peaked at 645K tons in 2017; however, from 2018 to 2024, the exports remained at a lower figure.

In value terms, processed meat exports expanded significantly to $2.7B in 2024. The total export value increased at an average annual rate of +2.8% over the period from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. The exports peaked in 2024 and are likely to see gradual growth in the near future.

Canada (201K tons), Mexico (105K tons) and Japan (66K tons) were the main destinations of processed meat exports from the United States, with a combined 63% share of total exports.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +4.3%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($1.1B), Mexico ($542M) and Japan ($239M) appeared to be the largest markets for processed meat exported from the United States worldwide, together comprising 68% of total exports. China, Guatemala, South Korea, the Philippines, Panama, the Dominican Republic, Hong Kong SAR and Colombia lagged somewhat behind, together comprising a further 17%.

Guatemala, with a CAGR of +8.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Prepared or preserved meat (326K tons) was the largest type of processed meat exported from the United States, with a 55% share of total exports. Moreover, prepared or preserved meat exceeded the volume of the second product type, sausages and similar products of meat (160K tons), twofold. Salted, dried or smoked meat, and offal (63K tons) ranked third in terms of total exports with an 11% share.

From 2013 to 2024, the average annual rate of growth in terms of the volume of prepared or preserved meat exports was relatively modest. With regard to the other exported products, the following average annual rates of growth were recorded: sausages and similar products of meat (-0.1% per year) and salted, dried or smoked meat, and offal (-2.3% per year).

In value terms, processed meat with the largest exports in the United States were prepared or preserved meat ($1.4B), sausages and similar products of meat ($866M) and salted, dried or smoked meat, and offal ($299M), together accounting for 95% of total exports. These products were followed by pasta stuffed with meat, fish and cheese, which accounted for a further 5.3%.

Pasta stuffed with meat, fish and cheese, with a CAGR of +8.9%, saw the highest growth rate of the value of exports, among the main product categories over the period under review, while shipments for the other products experienced more modest paces of growth.

The average processed meat export price stood at $4,585 per ton in 2024, which is down by -4.4% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2019 when the average export price increased by 15% against the previous year. The export price peaked at $4,796 per ton in 2023, and then declined modestly in the following year.

Prices varied noticeably by the product type; the product with the highest price was sausages and similar products of meat ($5,427 per ton), while the average price for exports of pasta stuffed with meat, fish and cheese ($3,153 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: salted, dried or smoked meat, and offal (+4.0%), while the prices for the other products experienced more modest paces of growth.

In 2024, the average processed meat export price amounted to $4,585 per ton, declining by -4.4% against the previous year. Over the last eleven years, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2019 an increase of 15%. The export price peaked at $4,796 per ton in 2023, and then declined modestly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2024, amid the top suppliers, the country with the highest price was Canada ($5,357 per ton), while the average price for exports to Colombia ($2,521 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+9.3%), while the prices for the other major destinations 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 U.S.. 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.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles