Meat Products Market Research, 2030
The global meat products market size was $274.70 billion in 2021, and is projected to reach $387.60 billion by 2030, growing at a CAGR of 3.95% from 2022 to 2030.
The meat products market is segmented into Packaging, Processed Meat Type and Meat Type.
The global demand for processed meat is driving the market. Meat is considered processed when it is preserved by smoking, salting, fermenting, or adding any chemical to extend its shelf life and improve its taste. Furthermore, the growing popularity of flavored and nutritious meat products such as sausages, hot dogs, burgers, and other similar items is driving significant growth in the market. Furthermore, rising consumer purchasing power and the adoption of hectic lifestyles are driving the growth of the meat products. Furthermore, because people nowadays do not have a lot of time to prepare food, they have begun to adopt ready-to-eat or quick-cook food products.
However, a significant increase in the number of vegans globally, may stymie the growth of the global meat products industry. Furthermore, post-pandemic aversion to certain animal meat, due to fear of contracting other contagious diseases, is another factor influencing the global meat market growth, and it may have a negative impact on the meat products market during the forecast period.
The rapid expansion of fast-food chains such as KFC, McDonalds, Subway, Burger King, and Taco Bell has had a significant influence in increasing consumption of processed meat. Moreover, the discounts and affordable meal packages offered by these fast-food chains significantly contributed to the growth of the processed meat market across the globe. According to the U.S. Center for Disease and Control Prevention, approximately 37% of the American population consumes fast food on a daily basis. Therefore, the increased consumption of processed meat in developed regions has fostered the market growth in the past.
The global meat products industry is segmented on the basis of processed meat type, meat type, packaging, and region. By processed meat type, market has been divided into hamburger, sausages, kebabs, and nuggets. By meat type, the analysis has been divided into beef, pork, chicken, mutton and other. By packaging, the analysis has been divided into chilled, frozen, and canned. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include BRF S.A., Cargill, Incorporated, Clemens Food Group, Conagra Brands Inc., Hormel Foods Corporation, JBS S.A., Minerva Foods SA, NH Foods Ltd., Sysco Corporation, and Tyson Foods.
By processed meat type, the market has been divided into hamburgers, sausages, kebabs and nuggets. A hamburger (or burger) is a sandwich made of meat (typically a beef patty) sandwiched between two sliced buns or flatbreads. Hamburgers are frequently accompanied by butter, salad, onion, tomato, pickles, ham, or peppers. Hamburgers use a type of processed meat that is increasingly popular these days. Furthermore, efficiency in production, a fast-paced lifestyle, and the development of multiple franchises are some of the segment's key factors that will accelerate industry growth during the review period.
By meat type, the analysis has been divided into beef, pork, chicken, mutton, and other., Pork is the meat of a domestic pig that is widely consumed as a staple food around the world with the exception of a few Middle Eastern countries. Pork flesh is not only tasty but it is also high in nutrients. It is also high in protein and lipids, as well as selenium, vitamin B, and thiamin, making it a favorite lunch for fitness enthusiasts looking to bulk up. Pork is a popular meat among fast food and restaurant customers. A variety of fast-food restaurants now offer pork as a topping for French fries and burgers.
By packaging, the analysis has been divided into chilled, frozen, and canned. The market expansion can be attributed to rising demand for ready-to-eat foods available in frozen form. Furthermore, frozen meat is safe to consume because the low temperature inhibits the growth of harmful bacteria and microbes. In addition, certain meat products are only available at certain times of the year and hence packaging plays an important role to preserve the taste.
By region, Europe dominated the global market in 2021 and is forecasted to remain the dominant region during the forecast period. With an increase in demand for simple and easy-to-eat foods, the meat manufacturing sector is expected to grow in the coming years. Rising consumer disposable income and an increase in the number of working professionals will propel the market forward over the forecast period. Furthermore, as consumers in the country become more aware of the importance of getting enough protein, protein-rich processed foods have been in high demand. All of these factors are expected to drive meat product demand in the region.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an in-depth analysis of the global meat products market trends along with the current and future market forecast.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global meat products market for strategy building.
A comprehensive global meat products market analysis covers factors that drive and restrain the market growth.
The qualitative data in this report aims on market dynamics, trends, and developments.
The report highlights the global meat products market growth, the global meat products market forecast, and the global meat products market share analysis.
IMPACT OF COVID-19 ON THE GLOBAL MEAT PRODUCTS MARKET
The global crisis caused by COVID-19 pandemic has negatively affected most of the industries across various countries.
The COVID-19 outbreak wreaked meat supply and production. The processed meat industry's distribution chain is primarily reliant on hotels, cafes, and restaurants. During COVID-19, fast food restaurants such as Subway, McDonalds, KFC, and Burger King were forced to close temporarily or permanently.
Customers of these restaurant chains had fewer options for dining in. Both cafes and hotels were closed due to travel restrictions. The global meat products market suffered revenue losses due to the non-operation of this critical distribution channel during the lockdown. Furthermore, COVID-19 had a substantial impact on meat production, distribution, and pricing, resulting in a global financial disaster.
Meat Products Market Report Highlights
| Aspects | Details |
 By Processed Meat Type |
|
 By Meat Type |
|
 By Packaging |
|
 By Region |
|
 Key Market Players | Koch Foods, Tyson Foods, Inc., Hormel Foods Corporation., American Foods Group, LLC, JBS S/A, Smithfield Foods, Inc., Cargill, Incorporated, OSI Group, Swiss Meat & Sausages Co., Perdue Farms |
Analyst Review
According to the CXOs of the leading companies, the global meat products market possesses a substantial scope for growth in the future. Meat products typically involve pork, beef, and poultry, but it may also include offal or meat byproducts such as blood. Furthermore, factors such as a hectic lifestyle, urbanization, changing lifestyles, as well as food preferences will drive the market for packaged, prepared, and ready meals, resulting in an increase in demand for processed meat products around the world. Moreover, the growth in newly emerging technologies like meat culture are expected to provide lucrative market opportunities for the production of meat artificially. Emerging players operating in the market are planning to commercialize the-lab meat products in the upcoming years. According to the CXOs, Asia-Pacific is projected to register faster growth as compared to North American and European markets
Due to their hectic work schedules and busy lifestyles, working people all over the world have been able to switch and tilt toward ready-made foods. Because a greater proportion of the world's population now consumes meat, the global demand for ready-to-eat meat products has gradually increased. People, especially in North America and Europe, have made meat an essential part of their diet. People are always looking for delectable meat-infused dishes for social gatherings, celebratory celebrations, family outings, and even parties; such factors may create lucrative opportunities for the market.
Agreement, business expansion, and product launch are the key growth strategies of global Meat products market players.
Asia-Pacific will provide more business opportunities for global meat products market in the future.
BRF S.A., Cargill, Incorporated, Clemens Food Group, Conagra Brands Inc., Hormel Foods Corporation, JBS S.A., Minerva Foods SA, NH Foods Ltd., Sysco Corporation, and Tyson Foods. are the leading market players active in the Meat products market.
Pork sub-segment held the maximum share of the global meat products market in 2021.
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global meat products market from 2021 to 2030 to determine the prevailing opportunities.
The key factors driving the market of the meat products market are convenience of ready-to-eat meat in terms of time savings and minimal effort required for meal preparation is propelling the industry forward. Furthermore, the fact that these meals only require heating before consumption has piqued the interest of the working population and millennials; are expected to drive the adoption of meat product.
The number of fast-food restaurants and restaurants worldwide grows, so does the demand for freezer meat for their daily operations, resulting in a massive market expansion of the freezer meat market worldwide. For example, KFC uses frozen chicken to create recipes that all have the same taste, and KFC uses the same meat all over the world for taste and quality reasons. In the future, these factors are expected to create lucrative opportunities for the global meat products market.
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