PurposeThe purpose of this paper is to explore the consumer acceptance of a functional meat processed product made with different meat sources, and to distinguish the existence of different market segments.Design/methodology/approachNon-probability sampling was used to recruit a sample of 411 consumers in Southern Chile, over the age of 18 and responsible for the purchase of meat products for their household.FindingsUsing a fractional factorial design for conjoint analysis, it was found in the total sample that the meat source of the meat processed product was more important than packaging, region of origin, price and the functional ingredient claim, with preference for lamb and pork meat processed products with omega-3. Two main segments were identified using a cluster analysis; these segments differed according to family size, presence and age of children, ethnic origin, general health interest, quality of diet and level of satisfaction with food-related life. The largest segment (56.0 percent) shows a high preference toward lamb meat processed product with dietary fiber and omega-3. The second (33.6 percent) preferred turkey meat processed product with antioxidants.Practical implicationsA differentiated marketing strategy with different meat sources and functional ingredients may give access to a large market share. People more willing to accept different functional ingredients in processed meat products may enjoy a better quality of life. The level of satisfaction with food-related life and quality of diet can be useful in explaining preferences for functional meat processed products.Originality/valueThis is the first study to evaluate consumer acceptance of a functional meat processed product made with three different meats and three different functional ingredient claims, which analyzed the relationship between acceptance, the consumer’s quality of diet and their level of satisfaction with food-related life.