Meat Products Market

Meat Products Market Size & Share - Future Growth Expectations

The meat products market, currently valued at USD 44.3 billion in 2023 and poised to achieve an 9.2% CAGR, reaching USD 68.9 billion by 2028, is experiencing transformative shifts and innovations. The global market for meat products is an ever-changing and varied segment within the food industry, comprising items such as beef, poultry, pork, lamb, and processed meats. In recent years, there has been a consistent rise in the demand for meat products, propelled by various factors, and this trend shows no signs of slowing down.

The meat products market is poised for substantial growth in the coming years, driven by several key factors:

  • Increasing Population
  • Rising Disposable Income
  • Urbanization
  • Changing Consumer Preferences
  • Health and Wellness Trends
  • Technological Advancements
  • Product Innovation
  • Expansion of Distribution Channels
  • Globalization and Trade Liberalization
  • Environmental Sustainability Concerns

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Increasing Population:

  • As the global population continues to grow, the demand for meat products also increases due to the need for food security and nutritional requirements.

Rising Disposable Income:

  • Higher disposable incomes lead to increased spending on premium and convenience food items, including processed and packaged meat products.

Urbanization:

  • Urbanization leads to changes in lifestyle and dietary habits, with more people opting for ready-to-eat and convenient food options, including processed meats.

Changing Consumer Preferences:

  • Shifts in consumer preferences towards protein-rich diets, convenience foods, and international cuisines drive the demand for a variety of meat products.

Health and Wellness Trends:

  • Despite some controversies, many consumers perceive meat as a valuable source of protein and other essential nutrients. Additionally, there's a growing demand for healthier meat options such as lean meats, organic, and grass-fed products.

Technological Advancements:

  • Advances in food processing technologies, packaging techniques, and meat preservation methods improve product quality, extend shelf-life, and enhance convenience, thereby driving market growth.

Product Innovation:

  • Introduction of new flavors, formulations, and product variants by manufacturers to cater to diverse consumer preferences and dietary requirements stimulates market growth.

Expansion of Distribution Channels:

  • The expansion of retail networks, including supermarkets, hypermarkets, convenience stores, and online platforms, increases accessibility and availability of meat products, thereby boosting market growth.

Globalization and Trade Liberalization:

  • Increasing globalization and trade liberalization facilitate the cross-border flow of meat products, expanding market reach and creating new growth opportunities for manufacturers.

Environmental Sustainability Concerns:

  • Despite being a growth factor, it's worth noting that environmental concerns related to meat production, such as greenhouse gas emissions, water usage, and deforestation, are also influencing consumer choices and may impact market dynamics in the long term.

Meat Products Market Share - Global Industry Landscape

The meat products market is characterized by the presence of several key players competing for market share. Some of the leading companies in the biomarkers industry include:

Cargill (US):

  • Market Share: Cargill is one of the largest privately held corporations in the United States, and it has a significant presence in the global meat products market. However, exact market share figures may vary depending on the specific segment of the market.
  • Key Offering: Cargill is involved in various aspects of the meat industry, including processing, distribution, and marketing of beef, poultry, pork, and other meat products. They offer a wide range of products and services to retailers, foodservice providers, and food manufacturers.

Maple Leaf Foods (Canada):

  • Market Share: Maple Leaf Foods is one of the leading meat processing companies in Canada, with a notable presence in the Canadian meat market. Their market share may vary across different meat product categories.
  • Key Offering: Maple Leaf Foods specializes in processed meats, including packaged meats, deli meats, bacon, sausages, and poultry products. They also focus on sustainability and have initiatives aimed at producing more environmentally friendly meat products.

Marfrig Global Foods S.A. (Brazil):

  • Market Share: Marfrig Global Foods is one of the largest meat processing companies in Brazil and has a significant presence in the global meat market, particularly in beef.
  • Key Offering: Marfrig offers a wide range of beef and pork products, including fresh and frozen cuts, processed meats, and value-added products. They also have a presence in the poultry market.

Associated British Foods plc (UK):

  • Market Share: Associated British Foods is a diversified conglomerate with interests in various industries, including food processing. In the meat products market, they may have a significant market share in the UK and Europe, particularly in specific meat product categories.
  • Key Offering: Associated British Foods' meat division includes brands such as ABP Food Group, which specializes in beef processing and meat products. They offer a range of fresh and frozen beef products to retail, foodservice, and manufacturing customers.

Danish Crown Vej (Denmark):

  • Market Share: Danish Crown is one of the largest pork processing companies in Europe and holds a significant market share in the global pork market.
  • Key Offering: Danish Crown is known for its pork products, including fresh and processed pork cuts, sausages, bacon, and other pork-based products. They cater to both domestic and international markets.

Minerva Foods SA (Brazil):

  • Market Share: Minerva Foods is one of the leading beef producers and exporters in Brazil and has a notable presence in the global beef market.
  • Key Offering: Minerva Foods specializes in beef processing and exports a wide range of beef products to markets worldwide. They offer fresh and frozen beef cuts, processed meats, and value-added beef products.

Related Reports:

Meat Products Market by Animal (Beef, Pork, Poultry) Type (Processed, Frozen, Canned/Preserved, Chilled, Fresh), Distribution Channel (Retail, FoodService, E-Commerce), Nature, Packaging and Region - Global Forecast to 2028

Meat Products Market Size,  Share & Growth Report
Report Code
FB 8867
RI Published ON
5/7/2024
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