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The global meat market is projected to reach a valuation of USD 522.63 billion with a CAGR of 7% between 2022 and 2027. The meat market size refers to the total value or volume of meat products traded in a specific geographical region. The global meat product market size has been steadily increasing over the years, driven by factors such as population growth and changing dietary preferences. Beef and poultry are the most commonly traded meats in the global market. The meat market is categorized by product types such as beef, pork, and poultry, further segmented by processing methods including processed meat, frozen meat, and canned/preserved, and analyze the geographical distribution.
The market overview encapsulates its dynamics through market growth analysis, forecasting, and trends. Comprehensive market analysis and reports provide insights, shaping strategies to align with evolving consumer demands and ensuring a forward-looking approach to capitalize on the industry's growth potential. The Europe region currently holds the largest market share in terms of meat consumption. The market size is influenced by various factors, including economic conditions, consumer demand, and government regulations.
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The expansion in the retail landscape is one of the key factors driving the meat product 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 for 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 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. 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 product 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.
The future outlook for the market holds promising opportunities, driven by shifts in lifestyle and economies. Nations like Norway, Belgium, Ireland, the Netherlands, Nigeria, Bangladesh, Pakistan and Peru showcase a diverse inclination towards meat consumption. Research needs emphasize the importance of understanding changing consumer preferences. In Taiwan, the evolving supply chain and butcher preferences impact the market, reflecting a demand for steak, sausage, ribs, and ground meat. Recognizing the influence of water usage and the role of fat in consumer choices, the is poised for growth, offering ample prospects for adaptation and innovation to meet the evolving demands of global consumers.
The increasing livestock disease outbreaks are a major challenge for the global meat product market growth. Disease outbreaks affect animal health and lead to the loss of livestock. This poses a challenge to the global meat product 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 regulatory framework in the meat segment, governed by government policies, extends globally from Latin America to Ukraine. Consumer spending on meat, sausages, bacon, goat, and mutton faces evolving guidelines, particularly with the increasing popularity of meat substitutes. The introduction of stringent policies may influence the usage and availability of these food items. Government profiles and regulations on marinades and cuisines are pivotal, creating a basis for industry compliance. As the market diversifies into fish, vegetables, and convenience-oriented products, navigating the regulatory landscape becomes essential, shaping the market's trajectory and ensuring adherence to evolving dietary preferences.
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 meat product 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.
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 meat market trends and analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
In the competitive landscape of the market, vendors 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 a 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 report, vendors in the meat product market strive to anticipate and align with consumer demands, shaping a dynamic and forward-looking industry.
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. 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 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.
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 meat product market.
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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 meat 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 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 in the region. Moreover, the 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 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.
Meat Procut 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 Vendors, Market Positioning of Vendors, 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 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. |
Customization purview |
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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
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