Meat Market Analysis Europe, APAC, North America, South America, Middle East and Africa - US, China, Japan, Germany, France - Size and Forecast 2023-2027

Meat Market Size 2023 to 2027

The meat market is projected to reach a valuation of USD 522.63 billion with a CAGR of 7% between 2022 and 2027. The market's expansion hinges on several factors, including technological advancements, increased investments, and a focus on expanding production capabilities, as well as the evolution of the retail landscape. These elements are driving significant shifts in the market, shaping its trajectory and fostering growth opportunities. Technological advancements are enabling innovative solutions and enhancing operational efficiencies, while increased investments are fueling expansion and driving competitiveness. The evolving retail landscape, marked by changing consumer preferences and behaviors, is creating new avenues for market growth and innovation. Together, these factors are reshaping the market dynamics, propelling it toward a more robust and sustainable future.

Market Size

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Market Segmentation

This 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). 

By Product

The market share growth by the poultry segment will be significant during the forecast period. Poultry accounts for the largest market share in overall meat consumption worldwide. Beef is the most consumed red meat, representing a major amount of meat consumption globally. The poultry 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. 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.

By Type

Market segmentation by meat type explores diverse factors influencing consumer choices amid global developments. In the wake of the pandemic, the United Kingdom, Indonesia, Spain, Russia, Australia, Mexico, and the Philippines have witnessed shifting diets and meat consumption patterns. Animals, as a crucial factor, play a significant role in this study. Development and volume statistics, coupled with expert figures, contribute to understanding market dynamics. Sauces further enhance the market's appeal. Prices, reflective of economic conditions, become pivotal in shaping consumer preferences, offering a nuanced perspective on the intricate interplay of factors within the segmented market.

By Region

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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 market is large and complex, involving the production, processing, distribution, and consumption of various types of products. Some of the most commonly consumed meats in Europe are beef, pork, chicken, and lamb. The European 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 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.

Market Dynamics and Customer Landscape

The market is evolving to meet consumer demands for protein-rich diets while addressing concerns such as ethical production and animal welfare. Consumers seek healthier diets and leaner meats, leading to a rise in demand for fresh meat and alternatives like plant-based meat. Processed meats, including pre-cooked and ready-to-eat varieties, remain popular for convenience. Innovations such as clean meat produced in bioreactors offer sustainable alternatives. Additionally, traditional meats like rabbit, cow, sheep, goat, and duck continue to be staples, alongside emerging options like fermented meats. As the market diversifies, a balance between traditional and alternative meats is driving growth and innovation in meat processing.

Key Market Driver

The expansion in the retail landscape is one of the key factors driving the market growth and trends. The expanding trading environment can undoubtedly be seen as the driving force behind the global market. More retail chains open around the world, demanding stocked 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 these 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 indeed indicative of the proliferation of the organized retail sector worldwide. This trend is particularly noticeable in the ready-to-eat meat, processed meat, lean meats, and pre-cooked meat segments, where these stores offer a wide variety of options to consumers. Products such as pork, beef, and chicken are primarily sold by large, organized retailers, including Walmart and Tesco. Companies 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.

Significant Market Trends

The rising demand for grass-fed and organic meat will fuel the market growth. The demand and consumption of organic food products 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 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 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 products to cater to the increasing demand from consumers. Such factors will increase market growth during the forecast period.

Major Market Challenges 

The increasing livestock disease outbreaks are a major challenge for the market growth. Disease outbreaks affect animal health and lead to the loss of livestock. This poses a challenge to the 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.

Key Market Customer Landscape

The market growth and forecasting 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 Market Customer Landscape

The market's customer landscape encompasses a variety of preferences and purchasing patterns. From veal to seafood, the industry's diverse offerings cater to different tastes. The meatpacking and wholesale sectors play a pivotal role in shaping the market and influencing pricing and volume. Fresh, processed, substitutes, cultured meat, frozen meat, conventional meat, and deli meats offer a range of choices, appealing to consumers of varying sizes and preferences who shop across a spectrum of outlets. This intricate interplay defines the dynamic customer landscape within the ever-evolving meat sector.

Key Players and Competitive Landscape

Companies 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.

• BRF S.A: The company offers meat solutions through its subsidiary Banvit, such as Banvit Chicken Tenderloin Breast, and Banvit Chicken Fillet Breast.

The market trends and analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• 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.

In the competitive landscape of the market, companies navigate diverse consumer preferences. From traditional beef cattle to plant-based meat and lab-grown, vegan meat alternatives, the industry caters to a spectrum of choices, defining the beef market size. Plant-based alternatives have seen an increase in sales in the past year. Market research and growth analyses play a pivotal role in vendor strategies, ensuring they stay attuned to evolving market dynamics. With market forecasting, growth trends, and comprehensive market reports, companies in the market strive to anticipate and align with consumer demands, shaping a dynamic and forward-looking industry.

Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2022 for the following segments

• By Product 
  • Poultry
  • Pork
  • Beef
  • Others

• By Type 
  • Processed
  • Fresh

• By Region 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

The market offers a variety of options, including rabbits, cows, goats, deer, and mutton, providing essential nutrients like carbohydrates, fatty acids, vitamins, and minerals. These meats are staples known for promoting healthy bones and maintaining a healthy weight. They are consumed in various forms, such as grilled steak, roasted chicken, and smoked ribs, and play a significant cultural and social role in celebrations and special occasions, symbolizing hospitality and generosity. The market also includes convenient options like convenience meats and canned and frozen variants, catering to fast-paced lifestyles. However, concerns about antibiotics and hormones in the production have led to the rise of alternatives like grass-fed, organic options and meat substitutes for those following veganism.

Market Scope
Report Coverage	Details
Page number	173
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 7%
Market growth 2023-2027	USD 522.63 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	6.5
Regional analysis	Europe, APAC, North America, South America, and Middle East and Africa
Performing market contribution	Europe at 35%
Key countries	US, China, Japan, Germany, and France
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
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
Market dynamics	Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period.
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.

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What are the Key Data Covered in the Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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