Global Meat Products Market Insights Forecasts to 2032

• The Global Meat Products Market Size was valued at USD 46.59 Billion in 2022.
• The Market Size is growing at a CAGR of 7.68% from 2022 to 2032
• The Worldwide Meat Products Market Size is expected to reach USD 97.64 Billion by 2032
• Europe Market is expected to grow the fastest during the forecast period

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The Global Meat Products Market Size is expected to reach USD 97.64 billion by 2032, at a CAGR of 7.68% during the forecast period 2022 to 2032.    

 

Meat products are fresh or cooked meat made entirely or partially from the meat or other carcass of cattle, sheep, pigs, goats, or other animals. Meat is primarily available in the form of processed meat or fresh meat. Other types of meat products include cultured meat and plant-based meat. Cultured meat, also known as clean meat, is grown under controlled conditions in a bioreactor. To match the sensory and nutritional qualities of traditional meat, cultured meat is made from cells extracted directly from animal tissues. Processed meat is meat that has been preserved by salting, fermenting, or adding any chemical to extend its shelf life and improve its flavor. Meats such as beef, hog, turkey, chicken, and lamb are frequently used in the production of processed meat. Processed meats include pepperoni, jerky, hot dogs, and sausages. Preservatives are used to keep meat from rotting due to germs and other organisms. The global market for meat products is a dynamic and diverse sector of the food industry, encompassing a wide variety of products such as beef, poultry, pork, lamb, and processed meats. Demand for meat products has been steadily increasing in recent years, owing to a variety of factors, and there are no signs of this trend slowing. The increasing demand for animal-based food, protein-rich diets, and functional meat products are the primary factors driving the meat market's growth. Furthermore, rising demand for gluten-free products and rising awareness of organic processed meat products are expected to provide lucrative growth opportunities for meat market stakeholders.

 

Market Outlook

Meat Products Market Price Analysis

A variety of factors influence the price of meat products, including feed, labor, transport, and energy. Meat prices have been volatile in recent years owing to factors such as droughts, floods, and animal diseases. Despite these obstacles, the meat products market is expected to expand in the coming years. Increased demand for meat products in developing countries, as well as the growing popularity of convenience foods, will drive this growth.

 

Meat Products Market Opportunity Analysis

Technological advancement is transforming and advancing the meat industry, driving its growth and evolution. These advancements significantly improve product quality, extend shelf life, and reduce waste. Modern meat processing equipment allows for precise and controlled methods, ensuring consistent cuts that meet high taste and quality standards. This not only reflects the industry's dedication to safety and regulatory compliance, but it also contributes to consumer satisfaction.

 

Market Dynamics

Meat Products Market Dynamics

Increasing Demand for Meat-Based Convenience Products

The trend of urbanization, characterized by increasing migration of people from rural to urban areas, has had a significant impact on the meat products market. Notably, the convenience of processed and pre-packaged meat items is a major driver of market growth. Because of features such as pre-cutting, marination, and cooking convenience, these products appeal to urban lifestyles, which are characterized by fast-paced routines and limited time for traditional food preparation. Furthermore, the compact living spaces and on-the-go lifestyles of urban dwellers increase the appeal of these products, which require minimal kitchen equipment and align with fast and portable food preferences. Cities' diverse culinary landscape, which reflects various cultures and cuisines, contributes to the demand for processed meats that cater to multicultural tastes. Furthermore, ensuring food safety and quality addresses the concerns of urban consumers who may not have access to fresh and locally sourced meats. In conclusion, the convenience provided by processed and pre-packaged meat products is a key driver of market growth in urban areas, as it meets the diverse needs and preferences of the urban population.

 

Restraints & Challenges

The existence of nitrates as well as nitrites in animal products

Cooked processed meat is a poultry product that is ready to eat. The majority of processed meats are cured meats with chemical additives added to extend shelf life and inhibit microorganism growth. Nitrates are present in 500 mcg per serving of cured meat. The most commonly used curing agents are potassium nitrate and sodium nitrite, which help to keep the meat's redness and color. Nitrates in meat are converted to nitric oxide in the body. Nitric oxide causes blood vessels to dilate and lowers blood pressure.

 

Regional Forecasts

North America Market Statistics

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North America is anticipated to dominate the Meat Products market from 2023 to 2032. North America is the most dominant region among others. The majority share of the meat products market is mainly attributable to the existence of meat production operations in North America, as well as the availability of several product variants and flavors that consumers prefer based on their tastes. The rising trend of adopting new dietary preferences and making health-conscious choices is propelling the North American meat products market.   

 

Europe Market Statistics

Europe is witnessing the fastest market growth between 2023 to 2032. The European market offers significant business opportunities for meat product manufacturers, owing to the region's growing emphasis on health awareness. This increased awareness has resulted in an increase in demand for meat products, which has been aided by an increasing number of manufacturers entering the market and introducing new products. Sustainability concerns and a greater emphasis on health practices are key drivers of this shift.

 

Segmentation Analysis

Insights by Type

The frozen segment accounted for the largest market share over the forecast period 2023 to 2032. The growing popularity of frozen meat in the meat products market reflects changing consumer preferences and lifestyle needs. Consumers prioritize convenience and time efficiency in an era where hectic schedules are the norm. Frozen meat products, which include a variety of processed options, offer a quick and easy meal solution that requires little preparation. The growing popularity of frozen meat is reshaping the dynamics of the meat products market, resulting in market expansion, increased competition, and increased global market penetration.   

 

Insights by Distribution Channel

The food service segment accounted for the largest market share over the forecast period 2023 to 2032. A variety of factors, including culinary innovation, convenience, social experiences, and changing consumer preferences, are driving up demand for meat in restaurants. The restaurant industry adapts to changing trends, which contributes to the continued and growing popularity of meat-based offerings. Restaurants, takeaways, and caterers cater to a wide range of culinary preferences, offering a variety of meat-based dishes to satisfy a wide range of tastes and cultural preferences.   

 

Market Developments

• In September 2023, Minerva Foods SA (Brazil) accomplished its USD 40 million acquisition of Breeders and Packers Uruguay SA (BPU Meat), a subsidiary of NH Foods. Minerva Foods significantly increased its total slaughter capacity with this acquisition, which now stands at 3,700 heads per day, distributed across four refrigeration units, including the newly acquired BPU Meat.

 

• In August 2023, Minerva Foods SA (Brazil) has acquired the majority of Marfrig's South American cattle and sheep slaughtering and deboning operations. The transaction cost USD 1.45 billion. The transaction is expected to broaden Minerva's geographical reach.

 

Major players in the market

• Associated British Foods plc 
• Baiada
• Cargill 
• Cremonini S.p.A 
• Danish Crown Vej 
• Hormel Foods Corporation
• JBS SA 
• Maple Leaf Foods 
• Marfrig Global Foods S.A.  
• Minerva Foods SA 
• Plukon Food Group 
• Resource Agribusiness Group 
• Tyson Foods, Inc. 
• Vion Group 
• VOUDOURIS – KONSTAS SA 
• Others

 

Segmentation

This study forecasts revenue at global, regional, and country levels from 2023 to 2032.

 

Meat Products Market, Animal Analysis

• Beef
• Pork
• Poultry
• Others

 

Meat Products Market, Type Analysis

• Processed
• Frozen
• Canned/Preserved
• Chilled
• Fresh

 

Meat Products Market, Distribution Channel Analysis

• Retail
• Food Service
• E-Commerce

 

Meat Products Market, Nature Analysis

• Conventional
• Organic

 

Meat Products Market, Regional Analysis

• North America

• US

• Canada

• Mexico

• Europe

• Germany

• Uk

• France

• Italy

• Spain

• Russia

• Rest of Europe

• Asia Pacific

• China

• Japan

• India

• South Korea

• Australia

• South America

• Brazil

• Argentina

• Colombia

• Middle East & Africa

• UAE

• Saudi Arabia

• South Africa