Meat Market

Market Overview:

The global meat market size reached US$ 1.4 Trillion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.6 Trillion by 2028, exhibiting a growth rate (CAGR) of 2.3% during 2023-2028. The rising preference for protein-rich diets, increasing focus on sustainable and ethical meat production and continual technological advancements in the production and processing of meat represent some of the key factors driving the market. 

Meat is a food product that is derived from the flesh of animals, but also including poultry and some other animals. It is mainly derived from chickens, rabbits, cows, pigs, sheep, goats, lamb, deer and duck. It contains numerous essential nutrients and is a rich source of protein, carbohydrates and fatty acids, vitamins, and minerals, and has been a staple food for humans and also aids in the healthy development of the body. It is widely available in different varieties and each type of meat has its own unique characteristics in terms of taste, texture, and nutritional content. One of the key benefits of meat consumption is its protein content. Protein is essential for repairing and building muscle, as well as for many other bodily functions. Meat is considered a good source of complete protein, which contains all of the essential amino acids that the body needs to function properly. It is essential for good health, such as for maintaining healthy bones, muscles, and organs, and for supporting the immune system. Additionally, meat is a nutrient-dense food that is filling and satisfying, which can help to reduce hunger and prevent overeating. This can be particularly important for individuals who are trying to lose weight or maintain a healthy weight. In addition to its nutritional benefits, meat is also a delicious and versatile food that can be prepared in a wide variety of ways, including grilled steak, roasted chicken, smoked ribs and curries. It can be seasoned and cooked in a variety of ways, from simple salt and pepper to complex marinades and sauces, making it a versatile and flavorful ingredient. Besides this, it plays an important cultural and social role in many societies and is often associated with celebrations and special occasions, such as holidays and weddings, and is a way to show hospitality and generosity. There has been a considerable rise in the demand for meat among individuals since it can be an important part of a healthy and balanced diet when consumed in moderation.

Meat Market Trends:

The global market is primarily driven by the growing consumption of meat among the masses. This can be attributed to the rising preference for protein-rich diets among individuals. Coupled with the increasing health consciousness among the masses, this is providing a boost to the sales of meat across the globe. As consumers become more health-conscious, there is a growing demand for leaner cuts of meat, as well as meat products that are free from antibiotics and hormones and are also increasingly interested in sustainable and ethical meat production, which has led to the growth of niche markets for grass-fed, organic, and free-range meat products. Apart from this, the rising population level and inflating disposable income levels of the masses are creating a positive market outlook as more consumers are able to afford meat products. Moreover, the proliferation of numerous restaurant chains and quick service restaurants (QSRs) is significantly supporting the demand for meat on the global level. Along with this, numerous initiatives are undertaken by the government in the development of several policies and regulations for providing subsidies for livestock producers and the introduction of food safety regulations, which are considered to be major growth-inducing factors. In addition to this, easy product availability via online and offline organized distribution channels and the advent of home delivery models are impacting the market favorably across the globe. Furthermore, continuous technological advancements in the production and processing of meat, such as the automation of cutting, butchering, and monitoring processes have led to the development of new meat products, such as pre-cooked and convenience meats, which are also contributing to the market. Additionally, the growing spending on extensive research and development (R&D) activities in the field of genetics, animal husbandry, and feed formulation, is propelling the development of new breeds of animals that are more efficient at converting feed into meat, further acting as other growth-inducing factors. The market is further driven by the rising investments in the development of aggressive marketing strategies, celebrity endorsements and convenient packaging solutions. Other factors, including the introduction of canned and frozen variants of meat, continual improvements in the food and beverage industry and the growing popularity of western cuisines among the masses, are also positively influencing the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global meat market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, product and distribution channel.

Type Insights: 

• Raw
• Processed
   

The report has provided a detailed breakup and analysis of the meat market based on the type. This includes raw and processed. According to the report, raw type represented the largest segment. 

Product Insights: 

• Chicken
• Beef
• Pork
• Mutton
• Others
   

A detailed breakup and analysis of the meat market based on the product has also been provided in the report. This includes chicken, beef, pork, mutton and others. According to the report, chicken accounted for the largest market share. 

Distribution Channel Insights:

• Supermarkets and Hypermarkets
• Departmental Stores
• Specialty Stores
• Online Stores
• Others
   

The report has provided a detailed breakup and analysis of the meat market based on the distribution channel. This includes supermarkets and hypermarkets, departmental stores, specialty stores, online stores and others. According to the report, supermarkets and hypermarkets represent the largest segment. 

Regional Insights: 

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include 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 the Middle East and Africa. According to the report, Asia Pacific was the largest market for meat. Some of the factors driving the Asia Pacific meat market included the proliferation of quick service restaurants, inflating disposable incomes, rising consumption among individuals, etc.  

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global meat market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered 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, Tyson Foods Inc., Vion Food Group, WH Group Limited, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report. 

Report Coverage:

Key Benefits for Stakeholders:  

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the meat market from 2017-2028.  
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global meat market.  
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region. 
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the meat industry and its attractiveness. 
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.