Global Meat Market Report and Forecast 2024-2032

Global Meat Market Report and Forecast 2024-2032

Global Meat Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global meat market size reached a value of USD 1.40 trillion in 2023. Aided by the increasing global population, rising incomes, and evolving dietary preferences that emphasize protein-rich diets, the market is projected to further grow at a CAGR of 2.1% between 2024 and 2032 to reach a value of USD 1.75 trillion by 2032.

Meat, including varieties such as beef, pork, poultry, and lamb, has been a staple food source in many cultures around the world due to its high protein content and essential nutrients. It plays a crucial role in human nutrition and culinary traditions, offering significant benefits for muscle growth, physical health, and overall well-being.

The meat market growth is further propelled by the burgeoning demand from emerging economies, where rapid urbanisation and increasing disposable incomes are allowing consumers to spend more on high-quality meat products. Additionally, advancements in meat processing technology and improved supply chain efficiencies are making meat products more accessible to a broader audience globally.

The global meat market is witnessing a shift in consumer preferences towards organic and ethically produced meat, driven by growing health consciousness and concerns about animal welfare and environmental sustainability. This trend is leading to a rise in demand for free-range, grass-fed, and antibiotic-free meats. Consumers are increasingly willing to pay a premium for products that are perceived to be healthier and more sustainably produced.

Moreover, the convenience factor plays a significant role in the meat market expansion. Ready-to-cook and ready-to-eat meat products are gaining popularity among the urban populace, who value quick and easy meal solutions due to their busy lifestyles. This has led to innovations in meat packaging and the introduction of value-added products, such as marinated and seasoned meats, which offer added convenience for meal preparation.

Technological innovations are transforming the meat sector, enhancing everything from slaughter to packaging. As per the meat market analysis, automation and robotics are being increasingly employed to improve precision and efficiency in meat processing plants, reducing labour costs and improving safety and hygiene standards. Furthermore, technologies like blockchain are being utilized to ensure traceability and transparency in meat supply chains, boosting consumer confidence in product quality and origin.

Advances in genetic research are also impacting meat production, with selective breeding programs designed to enhance meat quality, increase yield, and improve disease resistance in livestock. As per the meat market outlook, these developments are not only optimising production efficiencies but are also addressing some of the ethical concerns associated with animal farming by improving the health and well-being of livestock.

Regionally, Asia-Pacific is the largest market for meat, driven by high consumption rates in countries like China and India. The region’s market dominance is supported by a combination of a large population base, increasing meat consumption per capita, and growing economic prosperity.

The development of lab-grown or cultured meat is a significant trend, as it promises to produce meat without the ethical and environmental issues associated with traditional animal farming. This technology involves cultivating meat cells in a controlled environment, reducing the need for land, water, and feed, and potentially lowering greenhouse gas emissions.

For instance, many major meat processors are investing in plant-based protein alternatives to diversify their portfolios and tap into the growing segment of consumers seeking plant-based dietary options which can contribute to the meat market share. This strategic diversification is aimed at maintaining market relevance and capturing new growth opportunities in the face of shifting consumer preferences.

Market Segmentation

The market can be divided based on type, product, distribution channel, and region.

Market Breakup by Type

• Raw
• Processed

Market Breakup by Product

• Beef
• Chicken
• Mutton
• Pork
• Others

Market Breakup by Distribution Channel

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

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global meat market. Some of the major players explored in the report by Expert Market Research are as follows:

• Cargill Inc.
• Conagra Brands, Inc.
• JBS SA
• Tyson Foods, Inc.
• BRF SA (Sadia)
• WH Group Limited
• Minerva Foods SA
• Clemens Food Group
• Hormel Foods Corporation
• NH Foods Ltd.
• Sysco Corporation
• Vion N.V.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report. Show more