Global Meat Market to Reach US$ 1.7 Trillion by 2032, Impelled by Rising Health Consciousness Among Consumers

March 10, 2022 | Food & Beverages

The latest report by IMARC Group, titled "Meat Market Report by Type (Raw, Processed), Product (Chicken, Beef, Pork, Mutton, and Others), Distribution Channel (Supermarkets and Hypermarkets, Departmental Stores, Specialty Stores, Online Stores, and Others), and Region 2024-2032," finds that the global meat market reached a value of US$ 1.4 Trillion in 2023. Meat is an edible portion of an animal or bird flesh, such as muscles, tissues, ligaments, fats, tendons, and bones, which is consumed as food. It is usually obtained from domesticated cattle and poultry, including chickens, cows, goats, turkeys, sheep, pigs, lambs, and rabbits. It is rich in essential nutrients and minerals, such as proteins, fats, carbohydrates, iron, niacin, riboflavin, magnesium, potassium, folic, amino and omega-3 fatty acids, bioactive compounds, and vitamins. It helps enhance the immune system, strengthen muscles and bones, boost metabolism and brain health, control blood sugar levels, and improve cardiovascular health. Moreover, meat is widely consumed and used to prepare various dishes due to its rich flavor, tenderness, and health benefits.

Global Meat Market Trends:

The rising health consciousness and the escalating demand for a high protein diet among consumers represent the primary factors driving the market growth. Besides this, the increasing consumption of processed poultry and low-fat meats due to changing dietary preferences, elevating living standards, and rapid urbanization is another major growth-inducing factor. Additionally, consumers are increasingly opting for animal-based protein-rich foods due to the growing awareness regarding their health benefits. Along with this, the widespread availability of premium meat snacks and meat-based burgers, hotdogs, sausages, fillets, and steak stews across restaurants and cafes has augmented the product demand. Furthermore, several key players are adopting advanced technologies to automate meat processing that helps prevent contamination, improve production efficiency and reduce cycle time. This, in line with the development of novel inactivation technologies and the implementation of stringent government regulations regarding food safety, has catalyzed the market growth. Other factors, including the shifting consumer preferences toward ready-to-eat (RTE) meat products, inflating disposable incomes, and surging popularity of additive- and chemical-free meat, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 1.7 Trillion by 2032, expanding at a CAGR of 2.01% during the forecast period (2024-2032).

Market Summary:

  • Based on the type, the market has been bifurcated into raw and processed meat.
  • On the basis of the product, the market has been categorized into chicken, beef, pork, mutton, and others. 
  • The market has been divided based on the distribution channel into supermarkets and hypermarkets, departmental stores, specialty stores, online stores, and others. 
  • Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. 
  • The competitive landscape of the market has also been examined, with some of the key players being BRF S.A., Cargill Inc., Clemens Food Group LLC, Conagra Brands Inc., Hormel Foods Corporation, JBS S.A., Minerva Foods SA, NH Foods Ltd., Sysco Corporation, Tyson Foods Inc., Vion Food Group, and WH Group Limited.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Meat Market to Reach US$ 1.7 Trillion by 2032, Impelled by Rising Health Consciousness Among Consumers
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