Global Meat And Poultry Market Overview
Meat And Poultry Market Size was estimated at 1.37 (USD Billion) in 2022. The Meat And Poultry Industry is expected to grow from 1.42(USD Billion) in 2023 to 1.95 (USD Billion) by 2032. The Meat And Poultry Market CAGR (growth rate) is expected to be around 3.61% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Meat And Poultry Market Trends Highlighted
The Meat and Poultry market is expected to develop significantly in the years to come due to an increase in the protein-consuming populace and rapid urbanization. People becoming more health-centered has caused the demand for processed meat as well as poultry. Also, the rising trend of processed and ready-to-eat meals is creating scope for the processed meat and poultry market.
Favorable demographic trends include high incomes, population increase, and expansion of the middle class. Also of note is the increasing population of working women, who are also adding to the demand for ready-to-eat meat and poultry products.
Developing new products and flavors, as well as increasing distribution channels, are among the strategies to be pursued. Also, the proliferation of environmentalism and healthy lifestyles is making the population shift towards more organic and sustainable farms, which in turn adds to market opportunities.
Meat And Poultry Market Drivers
Rising Health Consciousness Among Consumers
Consumers are becoming increasingly aware of the health benefits associated with consuming meat and poultry. These products are a rich source of protein, vitamins, and minerals, which are essential for maintaining a healthy weight, building strong bones, and boosting the immune system. As a result, consumers are opting for meat and poultry over other less healthy protein sources, such as processed foods and red meat. This trend is expected to continue in the coming years, driven by the growing popularity of healthy eating habits and the increasing availability of information about the health benefits of meat and poultry.
Growing Demand for Convenience Foods
Convenience foods are increasing in demand nowadays, as many consumers are seeking to avoid the time and energy required to cook various meals from scratch. Meat and poultry products are appropriate products for the trend, as they can be cooked and prepared in multiple ways. There is no wonder, as such items are appreciated by the vast majority of time-poor families or individuals. In the future, the demand for convenience foods will continue to grow since the count of working women will increase, and the popularity of one-person households will rise as well.
Expansion of the Foodservice Industry
Given the fact that the food service industry is quickly expanding and that restaurants and other establishments keep generating an ever-greater demand for meat and poultry since the latter remain the principal ingredient of a range of ready-to-eat dishes, the growth of such products will continue to rise throughout the next few years. The current trend will persist because of the increased popularity of eating out and, even more so, ordering food.
Meat And Poultry Market Segment Insights
Meat And Poultry Market Type Insights
The Meat And Poultry Market is segmented by type into meat and poultry. The meat segment is expected to hold a larger market share in 2023, owing to the high demand for red meat, such as beef, pork, and lamb. The growth of the market is attributed to the increasing demand for meat and poultry products, owing to the rising population and urbanization. Furthermore, the growing awareness about the health benefits of meat and poultry products is expected to drive the market growth. The meat segment is expected to hold a larger market share in 2023, owing to the high demand for red meat, such as beef, pork, and lamb.The poultry segment is projected to witness significant growth during the forecast period due to the increasing consumption of chicken, turkey, and duck meat. The rising disposable income and the changing lifestyles of consumers are expected to drive the demand for meat and poultry products. Regionally, the Asia Pacific region is expected to witness the highest growth during the forecast period due to the increasing population and urbanization. The growing demand for meat and poultry products in emerging economies, such as China and India, is expected to drive market growth.Furthermore, the rising disposable income and the changing lifestyles of consumers are expected to contribute to the market growth.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Meat And Poultry Market Animal Type Insights
The Animal Type segment is a crucial aspect of the Meat And Poultry Market, influencing market growth and segmentation. In 2023, the chicken segment dominated the market, accounting for approximately 38.5% of the Meat And Poultry Market revenue. This dominance is attributed to the high demand for chicken meat due to its versatility, affordability, and perceived health benefits. The beef segment followed closely, capturing around 27.3% of the market share. The rising popularity of beef in various cuisines and its nutritional value contribute to its significant market presence.Pork, duck, lamb, and turkey also hold notable market shares, each catering to specific consumer preferences and cultural influences. The market data suggests a steady growth trajectory for the Animal Type segment, with chicken and beef expected to maintain their leading positions in the coming years.
Meat And Poultry Market Freshness Insights
The Freshness segment is a significant part of the Meat And Poultry Market, accounting for a notable share of the overall market revenue. Fresh meat and poultry products are highly sought after by consumers due to their perceived superior taste, texture, and nutritional value. The demand for fresh meat and poultry is expected to continue growing in the coming years, driven by increasing health consciousness and changing consumer preferences. Frozen meat and poultry products offer convenience and longer shelf life, making them a popular choice for busy consumers and food service operators.The frozen meat and poultry segment is expected to witness steady growth in the coming years, particularly in developing regions where cold chain infrastructure is improving. Processed meat and poultry products, including cured, smoked, and canned products, offer extended shelf life and versatility in terms of culinary applications. The demand for processed meat and poultry products is expected to remain stable in the coming years, with growth driven by factors such as convenience and affordability. Overall, the Meat And Poultry Market is expected to continue expanding in the coming years, with each segment contributing to the overall market growth.
Meat And Poultry Market Distribution Channel Insights
The distribution channel segment plays a crucial role in the Meat And Poultry Market. Supermarkets/hypermarkets dominate the market, accounting for over 45% of the Meat And Poultry Market revenue in 2023. Their vast product offerings, convenience, and accessibility contribute to their popularity. Convenience stores hold a significant share, driven by their extended hours, easy access, and impulse purchases. Specialty stores catering to specific customer needs, such as organic or premium products, are gaining traction. Online retailers are rapidly expanding their reach, offering a wide selection and doorstep delivery.Foodservice channels, including restaurants, cafes, and hotels, account for a notable portion of the market, driven by the growing demand for convenience and dining out. The Meat And Poultry Market segmentation provides insights into the performance of different distribution channels, enabling businesses to optimize their strategies for effective market penetration and growth.
Meat And Poultry Market Packaging Insights
The Meat And Poultry Market is segmented into various packaging types, including tray, vacuum-packed, modified atmosphere packaging (MAP), and bulk. Among these, tray packaging held the largest market share in 2023, accounting for over 40% of the revenue. Vacuum-packed and MAP are also widely used, especially for products requiring extended shelf life. Bulk packaging is commonly employed for raw or frozen products intended for further processing or institutional use. The growth of the Meat And Poultry Market is driven by increasing demand for convenient and safe packaging solutions that preserve product quality and extend shelf life.
Meat And Poultry Market Regional Insights
The Meat And Poultry Market is segmented into North America, Europe, APAC, South America, and MEA. North America is the largest regional segment, accounting for 37% of the Meat And Poultry Market revenue in 2023. The region is expected to continue to dominate the market throughout the forecast period, owing to the high demand for meat and poultry products in countries such as the United States and Canada. Europe is the second-largest regional segment, accounting for 29% of the Meat And Poultry Market revenue in 2023. The region is expected to witness moderate growth over the forecast period, driven by the increasing demand for processed meat products and the growing popularity of convenience foods.APAC is the third-largest regional segment, accounting for 22% of the Meat And Poultry Market revenue in 2023. The region is expected to witness significant growth over the forecast period, owing to the rising disposable income and changing dietary habits in countries such as China and India. South America is the fourth-largest regional segment, accounting for 9% of the Meat And Poultry Market revenue in 2023. The region is expected to witness moderate growth over the forecast period, driven by the increasing demand for meat and poultry products in countries such as Brazil and Argentina.MEA is the smallest regional segment, accounting for 3% of the Meat And Poultry Market revenue in 2023. The region is expected to witness significant growth over the forecast period, owing to the increasing population and urbanization in countries such as Saudi Arabia and the United Arab Emirates.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Meat And Poultry Market Key Players And Competitive Insights
Major players in the Meat And Poultry Market industry are constantly striving to gain a competitive edge by investing in research and development, expanding their product portfolios, and acquiring smaller players. Leading Meat And Poultry Market players are focusing on developing innovative products that meet the evolving needs of consumers, such as products that are healthier, more convenient, and more sustainable. Meat And Poultry Market development is also being driven by the growing popularity of online grocery shopping, which is making it easier for consumers to purchase meat and poultry products from the comfort of their own homes. The Meat And Poultry Market Competitive Landscape is expected to remain highly competitive in the coming years, with major players continuing to invest in growth and innovation.Tyson Foods is one of the leading Meat And Poultry Market companies in the world. The company has a diverse portfolio of products, including chicken, beef, pork, and prepared foods. Tyson Foods has a strong presence in the United States, as well as operations in other countries around the world. The company is committed to sustainability and has set a goal of reducing its greenhouse gas emissions by 30% by 2030.JBS is another major player in the Meat And Poultry Market industry. The company is the largest beef producer in the world and also has a significant presence in the pork and poultry markets. JBS has operations in over 20 countries and is committed to providing high-quality products to its customers. The company is also investing in new technologies to improve its operations and reduce its environmental impact.
Key Companies in the Meat And Poultry Market Include
- BRF S.A.
- Pilgrim's Pride
- Maple Leaf Foods
- Bell Evans
- Perdue Farms
- Sanderson Farms
- OSI Group
- Tyson Foods
- WH Group
- Smithfield Foods
- Hormel Foods
- Cargill
- Seaboard Foods
- Marfrig
- JBS S.A.
Meat And Poultry Market Industry Developments
The Meat and Poultry Market is projected to reach USD 1.42 billion by 2023 and USD 1.95 billion by 2032, exhibiting a CAGR of 3.61% during the forecast period. Growing demand for protein-rich diets, rising disposable income, and expanding population are key factors driving market growth.Recent developments in the market include the increasing adoption of plant-based meat alternatives, rising consumer awareness about animal welfare, and technological advancements in meat processing and packaging. Key players are focusing on strategic partnerships, mergers, and acquisitions to expand their market presence and enhance their product offerings. Expansion into emerging markets and the adoption of sustainable practices are also shaping the industry landscape.
Meat And Poultry Market Segmentation Insights
- Meat And Poultry Market Type Outlook
- Meat And Poultry Market Animal Type Outlook
- Chicken
- Beef
- Pork
- Duck
- Lamb
- Turkey
- Meat And Poultry Market Freshness Outlook
- Meat And Poultry Market Distribution Channel Outlook
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Retailers
- Food Service
- Meat And Poultry Market Packaging Outlook
- Tray
- Vacuum-packed
- Modified atmosphere packaging
- Bulk
- Meat And Poultry Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.37(USD Billion) |
| Market Size 2023 |
1.42(USD Billion) |
| Market Size 2032 |
1.95(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.61% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
BRF S.A., Pilgrim's Pride, Maple Leaf Foods, Bell Evans, Perdue Farms, Sanderson Farms, OSI Group, Tyson Foods, WH Group, Smithfield Foods, Hormel Foods, Cargill, Seaboard Foods, Marfrig, JBS S.A. |
| Segments Covered |
Type, Animal Type, Freshness, Distribution Channel, Packaging, Regional |
| Key Market Opportunities |
Plant-based Meat Substitutes E-commerce Platforms Innovative Packaging Growing Demand in Developing Economies Health and Wellness Concerns |
| Key Market Dynamics |
Rising demand Health concerns Technological advancements Increasing demand for premium products Plant-based alternatives. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Meat And Poultry Market was valued at approximately USD 1.42 Billion in 2023. It is expected to reach a valuation of USD 1.95 Billion by 2032, expanding at a CAGR of 3.61% during the forecast period of 2024-2032.
North America currently dominates the Meat And Poultry Market and is expected to maintain its dominance throughout the forecast period. The region's market share can be attributed to the high consumption of meat and poultry products, along with the presence of well-established meat and poultry processing industries.
The rising demand for meat and poultry products due to population growth, increasing disposable income, and changing dietary patterns is a major growth driver. Additionally, the growing health consciousness among consumers is driving the demand for healthier meat and poultry products.
Meat and poultry products are primarily used for human consumption. They are used in a wide range of culinary preparations, including grilling, roasting, frying, and stewing. Additionally, meat and poultry products are used in the production of processed foods, such as sausages, bacon, and deli meats.
Some of the key competitors in the Meat And Poultry Market include Tyson Foods, JBS, Cargill, Smithfield Foods, and Hormel Foods Corporation. These companies are involved in the production, processing, and distribution of meat and poultry products worldwide.
One emerging trend in the Meat And Poultry Market is the growing demand for plant-based meat alternatives. Consumers are increasingly seeking healthier and more sustainable protein sources, which is driving the growth of this segment.
The Meat And Poultry Market is expected to continue growing in the future. The rising population, increasing disposable income, and changing dietary patterns are expected to drive the demand for meat and poultry products. Additionally, the growing health consciousness among consumers is expected to drive the demand for healthier meat and poultry products.
The Meat And Poultry Market faces several challenges, including the rising cost of production, increasing competition from plant-based meat alternatives, and concerns about the environmental impact of meat production.
There are several opportunities for growth in the Meat And Poultry Market. The growing demand for healthier meat and poultry products, the increasing popularity of convenience foods, and the expansion of e-commerce are all expected to create new opportunities for growth.
Some of the key trends that are shaping the Meat And Poultry Market include the growing demand for healthier meat and poultry products, the increasing popularity of convenience foods, and the expansion of e-commerce. These trends are expected to continue to drive the growth of the market in the future.
