The global hams market is anticipated to reach a valuation of over US$ 47billion by 2030, growing at a CAGR of over 3% during the forecast period (2020-2030). A spike in number of food outlets and quick service restaurants (QSRs) across the globe continues to fuel the global hams market growth. Manufacturers of hams are benefiting directly from increased consumer demand for processed meat products and improved cold chain systems.
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Hams Market Segmentation
The FactMR’s study has done the segmentation of hams market on the basis of form, process, buyer, sales channel across eight regions.
- By Form :
- Fresh / Chilled
- By Process :
- Air Dried Cured Hams
- Smoked Hams
- By Buyer :
- Food Processor & Manufacturers
- HoReCa Sector
- Residential Buyers
- By Sales Channel :
- Independent Retailers
- Convenience Stores
- Specialist Retailers
- Online Retailers
- By Regions :
- North America
- Latin America
- South Korea
- South East Asia
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Due to the Covid-19 outbreak, two Brazilian meat processing plants were forced to suspend operations, which were BRF (Brazil Foods), and JBS. Demand for hams from restaurants and other foodservice firms fell drastically, leaving vendors with large quantities of unsold stock.
Tyson Foods informed its investors about a 50% decline in the U.S. pork production. Costco also announced restrictions on fresh meat sales, limiting customers to buy not more than three items from poultry, beef, and pork products. Considering the situation, the U.S. Food & Drug Administration (FDA) has relaxed its guidelines on food labeling to allow ham manufacturers to directly sell products to retailers originally intended for the foodservice industry.
Essential Takeaways from the Hams Market Insights Report
- Comparison of prominent players operating in the Hams Market Insights.
- Recent developments and key strategies adopted by Hams Market players.
- Study of the micro and macro-economic growth indicators.
- Impact of the various factors on the value chain of the Hams Market.
- Growth opportunities for emerging market players in various regional markets.
- Current trends influencing the scenario of the Hams Market.