Meat Market Trends and Forecast
The future of the global meat market looks promising with opportunities in the poultry, pork, beef, and sheep markets. The global meat market is expected to reach an estimated $1251 billion by 2030 with a CAGR of 2% from 2024 to 2030. The major drivers for this market are increasing poultry meat consumption, demand for protein based food products, and increasing demand for processed meat.
ChatGPT1st Prompt as provided in Excel Sheet
• Lucintel forecasts that processed meat is expected to witness higher growth over the forecast period.
• Within this market, poultry meat will remain the largest segment.
Country Wise Outlook for the Meat Market
Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major meat producers in key regions: the USA, Germany, China, India, and Brazil
Emerging Trends in the Meat Market
Emerging trends in the meat market shaping its future applications and market dynamics:
• Plant-Based and Cultured Meat: The rise of plant-based and cultured (lab-grown) meats is one of the most significant emerging trends. These alternatives aim to provide more sustainable and ethical options compared to traditional meat, with advancements in taste, texture, and nutritional profile.
• Meat Substitutes and Blends: There is growing interest in meat substitutes and blends that combine traditional meat with plant-based ingredients. These products are designed to appeal to both meat-eaters and those looking to reduce their meat consumption while still enjoying familiar flavors and textures.
• Blockchain for Traceability: Blockchain technology is increasingly being used to improve traceability and transparency in the meat supply chain. This technology can provide detailed information about the origin, processing, and quality of meat products, addressing consumer concerns and enhancing food safety.
• Personalized Nutrition: Advances in personalized nutrition are leading to tailored meat products designed to meet specific dietary needs or health goals. This trend includes developing meat products that are enriched with specific nutrients or designed to fit individualized dietary requirements.
• Alternative Proteins and Insects: Research and development into alternative protein sources, including insects and microalgae, are gaining traction. These sources are seen as sustainable and efficient ways to meet global protein demands.
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Recent Development in the Meat Market
Ongoing innovations and advancements in various sectors of the meat market which have been highlighted by recent developments:
• Sustainability Initiatives: Many meat producers are adopting more sustainable practices, including reducing water and energy usage, improving waste management, and exploring ways to reduce their carbon footprint. This includes efforts to improve the efficiency of meat production and minimize environmental impact.
• Animal Welfare Improvements: There has been a focus on enhancing animal welfare standards in meat production. This includes better living conditions for livestock, improved handling practices, and stricter regulations on humane slaughter methods.
• Technological Advancements in Processing: Advances in meat processing technologies have improved product consistency, safety, and efficiency. This includes innovations in automation, improved food safety protocols, and enhanced traceability systems to track meat from farm to table.
• Labelling and Transparency: Increased consumer demand for transparency has led to more detailed labeling. This includes information on the origin of the meat, production methods, and nutritional content, helping consumers make more informed choices.
• Health and Nutrition Focus: There is a growing emphasis on producing healthier meat products, such as those with lower fat content, reduced sodium, and added nutrients. This is driven by consumer awareness of health and wellness.
Strategic Growth Opportunities for Meat Market
The meat a vital segment of the global food industry, presents several strategic growth opportunities driven by evolving consumer preferences, technological advancements, and market dynamics:
• Rise of Health-Conscious Consumers: Growing awareness about health and nutrition is driving demand for leaner meat options and organic products. Consumers are increasingly seeking meats with lower fat content, reduced sodium, and free from antibiotics and hormones. Offering premium, grass-fed, and organic meat products can cater to this health-conscious demographic and capitalize on the trend towards healthier eating.
• Plant-Based and Alternative Proteins: The rise of plant-based and alternative protein sources presents both challenges and opportunities for the meat market. While plant-based meat substitutes are gaining popularity, there is also an opportunity for traditional meat producers to invest in developing hybrid products that combine meat with plant-based ingredients. Additionally, investing in lab-grown or cultured meat technologies can position companies at the forefront of the sustainable protein movement.
• Innovation in Meat Processing Technologies: Advancements in meat processing technologies, such as high-pressure processing (HPP) and improved preservation techniques, can enhance product quality, extend shelf life, and reduce food safety risks. Implementing these technologies can help meat producers meet evolving consumer expectations for convenience, freshness, and safety, while also differentiating themselves in the competitive market.
• Expansion into Emerging Markets: Rapid urbanization and rising incomes in emerging markets such as Asia-Pacific, Latin America, and Africa are driving increased meat consumption. Expanding distribution networks, tailoring products to local tastes, and establishing strategic partnerships with regional distributors can help capture growth in these high-potential markets.
• Focus on Sustainability and Ethical Practices: Consumers are increasingly concerned about the environmental impact and ethical considerations of meat production. Implementing sustainable farming practices, reducing greenhouse gas emissions, and improving animal welfare can enhance brand reputation and appeal to environmentally and socially conscious consumers. Certifications and transparent sourcing practices can further build trust and loyalty.
• E-Commerce and Direct-to-Consumer Channels: The growth of e-commerce and direct-to-consumer (DTC) sales channels offers significant opportunities for meat producers to reach consumers directly. Developing online platforms and leveraging digital marketing strategies can enhance customer engagement, provide personalized product offerings, and streamline distribution processes.
By taking advantage of these strategic growth opportunities, the meat market can realize its full potential and transform numerous industries through strength, lightness, versatility.
Meat Market Driver and Challenges
Meat has a very important role in many type including fresh and processed meat. The changing market dynamics are being driven by the increasing global population, rising disposable incomes and changing dietary preferences. however, challenges like health concerns and environmental impact.
The factors responsible for driving the meat market include:
• Increasing Global Population: The growing global population leads to higher demand for meat as a major source of protein, particularly in emerging markets where meat consumption is rising with increased income levels.
• Rising Disposable Incomes: As disposable incomes increase, particularly in developing countries, consumers are able to afford more meat products, which boosts demand across various segments of the meat market.
• Changing Dietary Preferences: In many regions, particularly in Western countries, there is a trend towards higher consumption of meat products as part of diverse diets, including premium and processed meats.
• Urbanization: Rapid urbanization drives demand for convenient, ready-to-eat meat products and increases access to modern retail outlets that offer a variety of meat products.
• Innovation and Product Development: Advances in meat processing technologies and innovations in product offerings, such as value-added and convenience products, contribute to market growth by catering to evolving consumer preferences.
Challenges in the meat market are:
• Health Concerns: Increasing awareness of health issues related to high meat consumption, such as cardiovascular diseases and cancer risks, drives some consumers to reduce their meat intake or shift towards alternative protein sources.
• Environmental Impact: The meat industry faces scrutiny over its environmental impact, including greenhouse gas emissions, water usage, and land degradation, leading to pressure for more sustainable production practices and alternative proteins.
• Animal Welfare Issues: Concerns about animal welfare and ethical considerations regarding factory farming practices drive demand for more humane and sustainable meat production methods, which can be costly and complex to implement.
• Supply Chain Disruptions: The meat industry is vulnerable to supply chain disruptions due to factors such as disease outbreaks (e.g., African swine fever, avian flu), trade restrictions, and transportation issues, which can affect production and prices.
Meat Suppliers and Their Market Shares
In this globally competitive market, several key players such as WH Group, Hormel Foods, Itoham Foods Inc., JBS, BRF S.A, etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players contact us.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies meat companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the meat companies profiled in this report include-
• WH Group
• Hormel Foods
• Itoham Foods Inc.
• JBS
• BRF S.A
• Tyson Foods
• Cargill Inc
• Faragalla Group
• Clemens Food Group
• Maple Leaf Foods
These companies have established themselves as leaders in the meat industry, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the meat market are evolving, with the entry of new players and the emergence of innovative meat industry. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Meat Market by Segment
The meat market is mainly divided into fresh and processed meat segments. Fresh meat includes raw products like beef, pork, and chicken, sold as whole cuts or ground. Processed meat encompasses items that are altered through curing, smoking, or adding preservatives, such as sausages and ham. Both segments cater to various consumer preferences, with fresh meat valued for its natural state and processed meat for convenience and longer shelf life.
Meat Market by Livestock [Value from 2018 to 2030]:
• Poultry
• Pork
• Beef
• Sheep
Meat Market by Meat Type [Value from 2018 to 2030]:
• Fresh Meat
• Processed Meat
Meat Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Features of the Global Meat Market
Market Size Estimates: Meat market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Meat market size by livestock , meat type, and region in terms of value ($B).
Regional Analysis: Meat market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different livestock , meat type, and regions for the meat market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the meat market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q1. What is the meat market size?
Answer: The global meat market is expected to reach an estimated $1251 billion by 2030.
Q2. What is the growth forecast for meat market?
Answer: The global meat market is expected to grow with a CAGR of 2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the meat market?
Answer: The major drivers for this market are increasing poultry meat consumption, demand for protein based food products, and increasing demand for processed meat.
Q4. What are the major segments for meat market?
Answer: The future of the meat market looks promising with opportunities in the poultry, pork, beef, and sheep markets.
Q5. Who are the key meat market companies?
Answer: Some of the key meat companies are as follows:
• WH Group
• Hormel Foods
• Itoham Foods Inc.
• JBS
• BRF S.A
• Tyson Foods
• Cargill Inc
• Faragalla Group
• Clemens Food Group
• Maple Leaf Foods
Q6. Which meat market segment will be the largest in future?
Answer: Lucintel forecasts that processed meat is expected to witness higher growth over the forecast period.
Q7. In meat market, which region is expected to be the largest in next 7 years?
Answer: APAC will remain the largest region over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the meat market by livestock (poultry, pork, beef , and sheep), meat type (fresh meat and processed meat), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 7 years and what has its impact been on the industry?
For any questions related to Meat Market Market, Meat Market Market Size, Meat Market Market Growth, Meat Market Market Analysis, Meat Market Market Report, Meat Market Market Share, Meat Market Market Trends, Meat Market Market Forecast, Meat Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.