Global Frozen Meat & Poultry Products Market Outlook, 2027

Global Frozen Meat & Poultry Products Market Outlook, 2027

The entire farm-to-table trend has been seemingly upended, anchored in advanced packaging, storage, and shipping across the globe. The convenience of ready-to-eat products when combined with easy availability through online orders is increasing sales in the frozen meat market. Plus, many consumers have come to accept the products as equally nutritional as unfrozen ones. Industry players, in turn, are responding to the interest, and packaging companies have expanded their array of offerings to meet the range of transportation and storage needs of frozen meat. Another trend that has fueled the popularity of and acceptance of frozen meat is advancements in shipping. Brands in the frozen meat category have been harnessing state-of-the art monitoring systems to ensure freshness. Beef and chicken, in particular, have gathered considerable steam of late, making them lucrative categories for players in the frozen market to capitalize on during the forecast period.

The report titled “Global Frozen Meat & Poultry Products Market Outlook, 2027” provides a detailed insight into the meat and poultry products globally with its historical and forecasted analysis including the top profiled companies in the market. The significant factor driving the demand for the frozen food market is its increased demand in both developed as well as developing countries along with the development of freezing technology. This growing preference will allow the market to pose the expected growth of above 4% by 2027. The demand for convenience food because of a fast-moving lifestyle and a change in spending patterns has led to steady growth in demand for frozen meat consumption.

Frozen meat products have been noticed as the largest segment in the global frozen food segment. Consumers prefer meat mostly due to its protein contents, however; the required protein is depleted when the meat is kept open for a longer time. Globally, the market has been dominated by the top three regions Europe, Asia Pacific & North America out of which Asia-Pacific has registered the fastest-growing rate with a CAGR by 2027. From various forms of frozen meat products globally, frozen beef and chicken are very popular among the consumer that generates over 70% of global frozen meat product's revenue share. Availability of frozen meat products through a varied range of attractive packaging types such as tear-notch openings, sealable zippers, and single-serve packaging that lures a consumer. The easy availability at supermarkets and e-retail shops is a major attraction to the customers. Consumers' high inclination towards consuming frozen meat is going to incur rapid sales in the light of changing consumption patterns. Customers' increasing preferences for frozen things and their interest in expanding information and eagerness to experience multiple nutritional values are the primary key learning propelling the business.

Due to the product's ease of use and time savings, the market is growing in popularity among consumers, particularly young professionals. This scenario is expected to provide potential opportunities for the global market by introducing new product varieties. Over the last few years, stable economic growth associated with the developing mining industry has increased the number of job opportunities, thereby increasing the average income of consumers. Furthermore, due to the growing penetration of e-commerce and online delivery services driven by an accelerated lifestyle, eateries and restaurants worldwide are relying on frozen meat products to meet the demand for meat dishes. This scenario anticipates global market growth during the coming years. To meet this rising demand, many frozen meat product manufacturers are entering the market, with new entrants expanding into new markets. As a result, food trading in the frozen meat industry is becoming increasingly international. As a result, supply chains are becoming larger and more complicated, resulting in a greater need for meat to remain fresh for extended periods, driving frozen meat sales. Moreover, growing working population, increasing per capita income in emerging economies, and rising demand for frozen food products are anticipated to accelerate growth of this market over the forecast period.

Increasing fast-food joints and restaurants across the globe, rising demand for freezer meat for their daily operations are expected to impact a huge market expansion of frozen meat market across the globe. For example, KFC (Kentucky fried Chicken) using freezer chicken to make recipes with the same taste across the globe, using meat across the globe is the same meat for their quality and taste purpose. This following trend increases the market growth in the forecast period. Most meat processing enterprises are now using this technology as a standard, such as the EU Poultry Group, allowing them to enhance production levels and grow geographically by shipping products to different areas and nations.

The market is gaining popularity among consumers, especially young professionals, due to the easy-to-use and economical aspect of the product. This scenario awaits potential opportunities for the global market with the introduction of product varieties. In recent years, the steady economic growth associated with the development of the mining industry has resulted in an increasing number of job opportunities, thus improving the average income of consumers.

Recent Developments:

-On November 2021, Préval AG, an international agri-food company headquartered in Quebec, has acquired the assets of J&G Foods, located in Sutton, Massachusetts. J&G is a custom and specialty meat provider specializing in portioned organic and grass-fed beef, organic and natural chicken, natural pork and beef, and a variety of marinated and value-added meats. The acquisition will help Préval AG to diversify its business in the frozen meat business to meet the increasing demand for frozen meat across the globe.

-On April, 2022, Prasuma announced the expansion of its product portfolio, with the launch of frozen food segment. Prasuma, is an Indian chilled meat and frozen food brand. The brand is set to launch frozen Chicken Nuggets, Frozen Veg and Chicken Spring Rolls, Veg and Chicken Mini Samosas, Mutton and Chicken Shammi Kababs, and Mutton and Chicken Seekh Kababs as well as Bacon to its frozen portfolio. The launch of the new product portfolio will help Prasuma to expand its presence across the Indian territories.

-On February 2022, Seara foods announced the launch of Seara Shawata frozen marinated whole chicken. A Seara food is a Brazilian food processing company specialized in the development and distribution of meat products. The new product will target the Middle Eastern and Latin America market for their launch due to the heavy demand for this region for the poultry products.

Covid-19 Impacts:
The COVID-19 pandemic led to a massive burden on food and beverage supply chains worldwide. Consumer consumption habits have shifted due to their perception of the risk associated with COVID-19. Fear of possible food and beverage shortages has fuelled the hoarding trend. Because of the hoarding, demand for frozen meat and poultry food products increased, and the companies could not meet the market demand. The vaccination campaign and lockdown practices to limit the virus's global spread are likely to aid in the growth of the frozen food market in regaining its position in the food and beverage sector.

Major companies present in the market:
Kraft Heinz Company, Ajinomoto Co. Inc, Cargill Incorporation, Nestle S.A., Conagra Brands, Inc, JBS S.A, Nomad foods, Hormel food

Considered for the report:
-Geography: Global
-Historic year: 2016
-Base year: 2021
-Estimated year: 2022
-Forecasted year: 2027

Aspects covered in this report
-Global frozen Meat & Poultry market with its value and forecast along with its segments
-Region & Country-wise Meat & Poultry foods market analysis
-Various divers and challenges
-Ongoing trends and developments
-Top profiled companies

Regions covered in the report
-North America (USA, Canada, Mexico)
-Europe (UK, Germany, Spain, France, Italy, Russia)
-South America (Brazil, Argentina, Chile, Columbia)
-Asia-Pacific (China, Japan, Australia, India)
-Middle-East & Africa (UAE, Saudi Arabia, Israel)
-Africa (South Africa)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started, verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to meat & poultry foods products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.