Global Ground Meat Market Witnessing a Huge Growth from 2021, And Expected to Grow Twofold, With A CAGR of 3% By 2030

Global Ground Meat Market Witnessing a Huge Growth from 2021, And Expected to Grow Twofold, With A CAGR of 3% By 2030

The Global Ground Meat Market is expected to grow at a substantial rate by 2030.

Ground Meat: Introduction

Ground meat, called mince or minced meat outside North America, refers to the kind of  meat that is finely hacked by a meat processor or a cleaving blade. A typical sort of ground meat is ground beef, yet numerous different kinds of meats are prepared along these lines, including pork, veal, sheep, goat meat, and poultry.

Ground meat is mincemeat which is finely sliced. It is becoming one of the highly consumed  processed food. India is emerging as one of the biggest contributor to the market expansion owing to the rising number of processing units across the nation. . Additionally, the gross worth of plant and apparatus sent in the food processing area is relied upon to develop more than $50billion by the 2019 to 2022.

Market overview

The global ground meat market is projected  upon to amplify at a CAGR of 3.5% during the estimated time frame, from 2022 to 2030. The market is driven by elements like expanding interest for convenience  food and developing populace. The ground meat market in North America is relied upon to develop at a CAGR of more than 4% during the gauge time frame, from 2021 to 2030.

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The development of the Global Ground meat Market can be ascribed to evolving ways of life, expanding populace, and ascend in worldwide meat interest. Moreover, developing awareness about health aspects related with red meats is additionally an element that impacts the market's development. The expansion in urbanization prompts expanded accommodation for ground meat utilization as individuals settle nearer to their working environments.

The Ground Meat Market has experienced critical advancement over the recent years and is expected to develop immensely over the gauge period.

Developing Demand for Processed Food and Increase in Penetration of Organized B&M Formats Including Hypermarket, Supermarket, and Others are a few fundamental elements which is helping to boost the market. Absence of Storage Infrastructure in Under Developed Regions is the challenge which hinder the market growth.

Economic growth

The Global Ground Meat Market size was $66.3 billion in 2021, and is expected to grow at a considerable rate, with a growing CAGR (compound annual growth rate) of more than 3% from 2022 to 2030.

Market segmentation: Analysis

The Global Ground Meat Market is segmented by type, application, and geographic region.

On the basis of type – Ground Beef, Ground Pork, and Ground Chicken.

On the basis of application – Home, and commercial.

On the basis of region - North America, Europe, Asia Pacific, Latin America, and The Middle East & Africa.

Key players in the Global Ground Meat Market are:

  • Tyson Foods Inc.
  • JBS USA Holdings Inc.
  • Cargill Meat Solutions Corp.
  • OSI Group LLC
  • Hormel Foods Corp.
  • SYSCO Corp.

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