Meat Market Worth $1,345.9 Billion by 2029

Meat Market by Product Type (Processed Meat, Fresh Meat), Animal Type (Cattle and Buffalo, Pig, Poultry, Sheep, and Goat), by Distribution Channel (Business to Consumer (B2C), Business to Business (B2B) - Global Forecast to 2029

Meticulous Research® – a leading global market research company, published a research report titled “Meat Market by Product Type (Processed Meat, Fresh Meat), Animal Type (Cattle and Buffalo, Pig, Poultry, Sheep, and Goat), by Distribution Channel (Business to Consumer (B2C), Business to Business (B2B) - Global Forecast to 2029".

According to this latest publication from Meticulous Research®, in terms of value, the meat market is expected to reach $1,345.9 billion by 2029, at a CAGR of 5.7% during the forecast period 2022 to 2029. Moreover, in terms of volume, the meat market is expected to reach 374.4 million tons cwe by 2029, at a CAGR of 1.1% during the forecast period 2022 to 2029. The growth of this market is mainly attributed to the increasing demand for animal-based food, protein-rich diets, and functional meat products. Moreover, the increasing awareness of organic processed meat products and gluten-free products are expected to provide lucrative growth opportunities for the stakeholders in the meat market. However, the carcinogenic effects of processed meat and growing awareness about the benefits of meat alternatives hinder market growth to some extent.

The global meat market study presents historical market data in terms of value and volume (2020 and 2021), estimated current data (2022), and forecasts for 2029— by animal type (cattle and buffalo, pig, poultry, sheep and goat, and other animals); product type (processed meat (frozen meat, chilled meat, and canned meat) and fresh meat); and distribution channel (business to consumer (B2C) and business to business (B2B). The study also evaluates industry competitors and analyzes the market at a regional and country level.

Based on animal type, the cattle and buffalo segment is expected to account for the largest share of the global meat market in 2022, owing to the growing demand for beef as it is a major source of proteins. Usually, cattle and buffalo meat have a higher protein content as compared to other meat types, including chicken, pork, turkey, and lamb. Awareness associated with the consumption of protein through high nutritional food and growing preference for beef over other meats owing to various diseases associated with poultry and pork is further expected to drive the growth of this segment.

Based on product type, the processed meat segment is expected to account for the largest share of the global meat market in 2022, owing to its ease of use and high availability and shelf life; and increasing demand for ready-to-cook food products owing to busy lifestyles. Also, the growing urbanization and increasing per capita income among millennials is further expected to boost the growth of the processed meat market during the forecast period.

Based on distribution channel, the business to consumer (B2C) segment is estimated to command the larger share of the global meat market in 2022. The large share of this channel is mainly attributed to the factors such as the growing number of supermarkets and hypermarkets and increased overall product sales from these outlets; consumer preference for shopping from brick-and-mortar grocers due to easy access and availability; and increasing use of e-commerce platforms for purchase of essential goods.

Geographic Review:

This research report also analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, Italy, U.K., Spain, and RoE), Asia-Pacific (China, Japan, India, Australia, and RoAPAC), Latin America (Brazil, Mexico, Argentina, and RoLATAM), and Middle East & Africa.

Geographically, the meat market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is estimated to account for the largest share of the global meat market in 2022, owing to the increasing awareness of protein-rich diets, the increasing technological advancement and new product innovations in the food & beverages industry, fast-growing economies, and strong demand for meat and meat products in developing countries including China and India. Moreover, rapid urbanization, rising income, and changing lifestyles in the Asia-Pacific region have resulted in consumers opting for convenient ready-to-cook meat products.

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Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4-5 years. The key players profiled in the global meat market research report are Cargill Incorporated (U.S.), Tyson Foods, Inc. (U.S.), JBS S.A. (Brazil), Hormel Foods Corporation (U.S.), American Foods Group, LLC (U.S.), Koch Foods, Inc. (U.S.), Smithfield Foods, Inc (U.S.), National Beef Packing Company, LLC (U.S.), Perdue Farms Inc. (U.S.), and Allanasons Private Limited (India), among others.

Key Questions Answered in the Report-

Which are the high-growth market segments in terms of animal type, product, distribution channel, and region/country?
What was the historical market size for meat across the globe?
What are the market forecasts and estimates for 2022–2029?
What are the major drivers, restraints, opportunities, and trends for the global meat market?
Who are the major players in the global meat market?
How is the competitive landscape, and who are the market leaders in the global meat market?
What are the recent developments in the global meat market?
What are the geographical trends and high-growth regions/countries?
Who are the local emerging players in the global meat market, and how do they compete with the global players?

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