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The meat market size is estimated to grow at a CAGR of 7% between 2022 and 2027. The market size is forecast to increase by USD 522.63 billion. The growth of the market depends on several factors, including the advancement in technology, the growing investments and focus on expanding production capabilities, and the expansion in retail landscape.
This meat market report extensively covers market segmentation by product (poultry, pork, beef, and others), type (processed and fresh), and geography (Europe, APAC, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The expansion in retail landscape is notably driving the market growth, although factors such as the increasing livestock disease outbreaks may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The expansion in the retail landscape is one of the key factors driving the growth of the global meat market. The expanding trading environment can undoubtedly be seen as the driving force behind the global meat market. More retail chains open around the world, demanding for stocked meat products on shelves. The retail industry has evolved rapidly with the rise of e-commerce and the emergence of new technologies that enable more efficient and effective sales channels. Also, the world population is increasing. As a result, the demand for meat products is expected to increase in the coming years. This is especially true in emerging markets where rising disposable incomes are driving demand for meat and other animal protein products.
The growing presence of supermarkets, hypermarkets, and specialty stores worldwide is indicative of the proliferation of the organized retail sector worldwide. Meat products such as pork, beef, and chicken are primarily sold by large, organized retailers, including Walmart and Tesco. Vendors operating in this market compete for limited shelf space in large retail stores. Supermarkets constitute a major distribution channel that offers nutritious and affordable food products. Hence, consumers are increasingly looking for healthier and more sustainable food options, which has led to a shift toward leaner cuts of meat and organic and grass-fed meat products. Such factors will drive the growth of the market during the forecast period.
The rising demand for grass-fed and organic meat will fuel the global meat market growth. The demand and consumption of organic food products, including organic meat, are increasing because of the growing awareness of their health benefits among people. The growing number of health-related problems across the globe has made consumers aware of the ingredients they consume. Thus, they are more likely to consume organic food and beverages. The use of excessive pesticides, fertilizers, and ionizing radiation may make things easier for producers of inorganic food and beverages. However, they also increase health-related issues among the general populace in direct proportion.
Another trend that will affect the growth of the global meat market during the forecast period is the increasing demand for grass-fed and organic pork among consumers. The value-added benefits of grass-fed meat, such as better taste and high nutritional value, are increasing the demand for grass-fed pork. Grass-fed meat is priced higher than regular meat. Thus, this might influence the purchase decisions of consumers with tight budgets. Players in the market are coming up with new grass-fed meat products to cater to the increasing demand from consumers. Such factors will increase market growth during the forecast period.
The increasing livestock disease outbreaks is a major challenge for the global meat market growth. Disease outbreaks affect animal health and lead to the loss of livestock. This poses a challenge to the global meat market. Disease outbreaks disrupt livestock product trade and inhibit sustained investments in livestock production. Some of the livestock and poultry diseases that have had global consequences in the last five years are foot-and-mouth disease, rinderpest, contagious bovine pleuropneumonia, rift valley fever, swine vesicular disease, and others. Such diseases are commonly spread through person-to-person contact, or from the environment or other media.
Such epidemic diseases can adversely affect the supply of raw materials, increase the cost of production, and reduce operating margins. In addition, disease outbreaks can affect consumption patterns as they can result in a ban on meat sales and trade. According to these regulations, if the virus is detected, slaughterhouses must cull all pigs to be slaughtered and suspend operations for at least 48 hours. Such instances create negative publicity and reduce the demand for food products from these countries during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Meat Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the poultry segment will be significant during the forecast period. The poultry meat market includes the meat of chickens, turkeys, and ducks. The market is expected to grow steadily during the forecast period.
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The poultry segment was valued at USD 240.92 billion in 2017 and continued to grow by 2021. This growth is driven by high feed conversion rates and the low cost of poultry production. The growth of the global hospitality industry, especially in the fast food and fast casual dining segment, and the high disposable income of consumers are also important factors contributing to this growth. The important markets for poultry meat are key emerging countries such as China, Brazil, and India, which have a high population. Also, poultry comes under the white meat category, which is considered healthier for consumption compared with red meat. Such factors will increase the market growth during the forecast period.
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Europe is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The European meat market is large and complex, involving the production, processing, distribution, and consumption of various types of meat products. Some of the most commonly consumed meats in Europe are beef, pork, chicken, and lamb. The European meat market is highly competitive, with a variety of players including small and medium-sized enterprises and large multinational corporations. It is characterized by In recent years, the demand for organic and sustainable meat products has increased, leading to an increasing number of producers and suppliers specializing in these products. Such factors will increase the market growth in this region during the forecast period.
In March 2020, Europe witnessed the maximum number of COVID-19 cases, with Italy, France, Germany, and the UK being majorly affected countries. However, the initiation of large-scale vaccination drives in 2021 led to a decline in the number of COVID-19 cases in the region. This has resulted in the resumption of regular activities, which has increased the demand for meat in the region. Moreover, the meat market in Europe is expected to grow during the forecast period due to factors such as growing population, rising incomes, and increasing demand for high-quality, sustainably produced meat products.
The meat market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global meat market as a part of the global packaged foods and meats market under the global food products segment of the global food, beverage, and tobacco market. The global packaged foods and meats market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and extend shelf life. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Meat Market Scope |
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Report Coverage |
Details |
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Page number |
173 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7% |
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Market growth 2023-2027 |
USD 522.63 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.5 |
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Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 35% |
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Key countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
BRF S.A, Cargill Inc., Clemens Food Group, Conagra Brands Inc., Danish Crown AS, Fieldale Farms Corp., Hormel Foods Corp., House of Raeford Farms Inc., Itoham Foods Inc., JBS SA, Johnsonville LLC, KOCH FOODS INC., NH Foods Ltd., Perdue Farms Inc., Sysco Corp., Tyson Foods Inc., Vion Holding NV, Wayne Farms LLC, WH Group Ltd., and Marfrig Global Foods SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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