Global Meat Poultry Seafood Market Overview
As per MRFR analysis, the Meat Poultry Seafood Market Size was estimated at 1.43 (USD Billion) in 2022.
The Meat Poultry Seafood Market industry is expected to grow from 1.48(USD Billion) in 2023 to 2.1 (USD Billion) by 2032. The Meat Poultry Seafood Market CAGR (growth rate) is expected to be around 3.94% during the forecast period (2024 - 2032).
Key Meat Poultry Seafood Market Trends Highlighted
The meat, poultry, and seafood market has been experiencing significant shifts in recent years, driven by changing consumer preferences, technological advancements, and supply chain disruptions. The growing demand for protein-rich foods, particularly in emerging economies, is driving market growth.
The market is also increasingly influenced by health and environmental concerns, leading to the growth of plant-based alternative proteins and sustainable seafood options. Additionally, advancements in food processing and packaging technologies are enhancing product quality, shelf life, and convenience, further propelling the market's growth trajectory.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Meat Poultry Seafood Market Drivers
Increasing Demand for Protein-Rich Foods
The Meat Poultry Seafood Market is primarily driven by the rising demand for protein-rich food products. As the world's population continues to grow, the need for protein sources is also increasing. Meat, poultry, and seafood are excellent sources of protein, and their consumption is expected to increase in the coming years. The growing popularity of protein-based diets, such as the ketogenic diet, is also contributing to the increased demand for these products.Moreover, the increasing urbanization and changing lifestyles are leading to a shift towards more convenient and processed food options, which is further boosting the demand for meat, poultry, and seafood products.
Rising Disposable Income and Changing Dietary Habits
The Meat Poultry Seafood Market is also being driven by rising disposable income levels in developing countries. As people's incomes increase, they are able to spend more on food, and they are increasingly choosing to purchase meat, poultry, and seafood products. Additionally, changing dietary habits are also contributing to the growth of the market. Consumers are becoming more health-conscious and are looking for healthier food options.Meat, poultry, and seafood are perceived as healthy and nutritious foods, which is driving their demand.
Expansion of the Food Service Industry
The Meat Poultry Seafood Market is also benefiting from the expansion of the food service industry. The increasing number of restaurants, cafes, and other foodservice establishments is creating a greater demand for meat, poultry, and seafood products. Additionally, the growing popularity of home delivery and takeout services is also boosting the demand for these products.
Meat Poultry Seafood Market Segment Insights
Meat Poultry Seafood Market Product Type Insights
The Meat Poultry Seafood Market is segmented into three different types of products. Each specific segment has its own share and impacts on the global market growth. The Meat segment is expected to capture a significant share of the Meat Poultry Seafood Market revenue in the upcoming years. The market demand for meat product is propelled based on the fact that the meat is the richest source of protein and is palatable to everybody. The meat is further divided into beef, pork, and lamb among others. Poultry is anticipated to show promising growth for the next few years.The Poultry Market includes the most common type of birds, such as chicken and turkey. The rising consumption of poultry is attributed to the fact that they are relatively cheaper than the other alternatives and it is easier to prepare. Additionally, there is a growing awareness among people regarding the health benefits of the poultry consumption, which is further boosting the growth of the poultry segment. The Seafood segment holds a significant share of the Meat Poultry Seafood Market. Seafood is the richest source of protein as well as omega-3 fatty acids, and other essential nutrients.The market demand for the seafood is primarily driven by increasing health concerns and volatility in dietary consumption among people. The seafood segment is divided into fish, shellfish, and crustaceans segments. The growth of each segment and market is driven by specific factors or challenges. Market players can develop well-focused strategies by considering the characteristics of each segment of the Meat Poultry Seafood Market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Meat Poultry Seafood Market Market Channel Insights
Supermarkets and hypermarkets dominated the Meat Poultry Seafood Market in 2023, accounting for nearly half of the market revenue. The large presence of these retail formats, coupled with their wide product offerings and convenience, has made them a preferred destination for consumers. Independent grocers, on the other hand, held a significant share of the market, particularly in developing regions where they are often the primary source of fresh produce and meat products. Convenience stores, though having a smaller market share, have been gaining popularity due to their convenient locations and extended operating hours.Online retailers, while still a relatively small segment, have witnessed rapid growth in recent years, driven by the increasing penetration of e-commerce and the convenience of home delivery.
Meat Poultry Seafood Market Processing Type Insights
The Processing Type segment of the Meat Poultry Seafood Market is categorized into Fresh, Frozen, Canned, and Processed. In 2023, the Fresh segment held the largest market share globally. Fresh meat, poultry, and seafood are preferred by consumers due to their perceived higher quality, taste, and nutritional value. However, the Frozen segment is projected to witness the highest CAGR during the forecast period. The increasing popularity of frozen products, owing to their longer shelf life and convenience, is driving the growth of this segment.The Canned segment is expected to account for a significant market share, driven by the growing demand for canned fish and seafood products. The Processed segment includes various value-added products, such as smoked, cured, and marinated meat, poultry, and seafood, and is expected to experience steady growth due to the rising demand for convenient and ready-to-eat options. Overall, the Meat Poultry Seafood Market is expected to grow at a steady pace, with increasing consumer demand for high-quality, convenient, and value-added products driving the market growth.
Meat Poultry Seafood Market Animal Feed Insights
The global meat, poultry, and seafood market is expected to grow significantly in the coming years, driven by increasing demand for animal protein. The animal feed segment is a crucial component of this market, as it provides the necessary nutrients for livestock to grow and produce meat, poultry, and seafood. The animal feed market is segmented into various categories based on the type of feed, including grain-based, forage-based, mixed rations, and supplements. Grain-based feed is the most widely used type, accounting for over 60% of the global animal feed market.It is primarily composed of cereals such as corn, wheat, and barley, which provide carbohydrates and energy for livestock. Forage-based feed, on the other hand, is derived from plants and grasses and is rich in fiber and nutrients. It is often used for grazing animals such as cattle and sheep. Mixed rations combine grain-based and forage-based feed to provide a balanced diet for livestock. This growth is attributed to the increasing demand for meat, poultry, and seafood, as well as the rising population and urbanization, which are driving the need for efficient and sustainable animal production systems.
Meat Poultry Seafood Market Application Insights
The Meat Poultry Seafood Market is segmented by application into Human Consumption, Pet Food, and Animal Feed. The Human Consumption segment held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period. The growth of this segment can be attributed to the increasing population and rising disposable income, leading to a higher demand for meat, poultry, and seafood products. The Pet Food segment is also expected to witness significant growth due to the rising pet ownership and increasing demand for premium pet food products.The Animal Feed segment, on the other hand, is expected to grow at a steady pace due to the increasing demand for animal protein. The Meat Poultry Seafood Market revenue is expected to reach USD 2.1 billion by 2032, exhibiting a CAGR of 3.94% during the forecast period.
Meat Poultry Seafood Market Regional Insights
The regional segmentation of the Meat Poultry Seafood Market offers insights into the market's geographic distribution and growth patterns. North America is projected to account for a significant share of the market in 2024, driven by factors such as rising disposable income, growing health consciousness, and increasing demand for protein-rich foods. Europe is another key region, with a well-established meat and seafood industry and a large consumer base. The Asia-Pacific region is expected to witness substantial growth over the forecast period, owing to expanding middle-class population, urbanization, and rising demand for meat and seafood products.South America and the Middle East and Africa (MEA) regions are also experiencing growth, albeit at a slower pace.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Meat Poultry Seafood Market Key Players And Competitive Insights
The Meat Poultry Seafood Market major players are trying to improve their product portfolio and extend their global market share. The leading industry players are investing hugely in R to develop innovative products that fulfill the changing needs of the buyers. Major companies in the Meat Poultry Seafood Market are making constant efforts to acquire them with new companies and businesses and enter into collaboration and partnerships to hold a comparatively better market share. The increasing trend of consuming protein-rich food and the rising preference for convenience and ready to eat food is helping the Meat Poultry Seafood Market to grow in the near future.Tyson Foods is one of the major companies in the Meat Poultry Seafood Market. The company is the USA-based and operates its business functions across the USA, Europe, and Asia. Tyson Foods provides a huge range of meat products like beef, pork, chicken, and processed and seafood products. Tyson Foods is expanding its business and has a strong focus on innovation and product development. The company has a significant footprint in the market; most of it attributes to Tyson Food’s venture partners and acquisitions. The company has made strong efforts and investments in sustainable and animal-friendly approaches, which also makes it a successful company in the Meat Poultry Seafood Market.JBS is a big name in the Meat Poultry Seafood Market and operates across 20 countries and is a leading name in the beef, pork poultry, and leather segments. JBS has a strong emphasis on value-added products and is expanding hugely in the emerging countries. The big company has the majority of its focus on acquiring or collaborating with other firms to attain an upper hand in the meat market. High quality and high efficiency have helped JBS to gain a leading market position.
Key Companies in the Meat Poultry Seafood Market Include
- Cargill, Incorporated
- OSI Group, LLC
- Pilgrim's Pride Corporation
- BRF S.A.
- NH Foods Ltd
- Tyson Foods, Inc.
- Marfrig Global Foods S.A.
- Sanderson Farms, Inc.
- WH Group Limited
- Smithfield Foods, Inc.
- George's Inc.
- Perdue Farms Incorporated
- Hormel Foods Corporation
- JBS S.A.
Meat Poultry Seafood Market Developments
The global Meat, Poultry, and Seafood market is projected to grow from USD 1.48 billion in 2023 to USD 2.1 billion by 2032, exhibiting a CAGR of 3.94% during the forecast period. Rising disposable income, increasing demand for protein-rich food, and growing awareness about the health benefits of consuming meat, poultry, and seafood are major factors driving market growth. The increasing popularity of convenience food products, such as ready-to-eat and frozen meals, is also contributing to market expansion. In terms of regional analysis, North America is expected to dominate the global market throughout the forecast period, primarily due to the high consumption of meat and poultry products in the region. However, Asia-Pacific is anticipated to witness the fastest growth rate during the forecast period, owing to the rising demand for meat and poultry products in emerging economies such as China and India.
Meat Poultry Seafood Market Segmentation Insights
- Meat Poultry Seafood Market Product Type Outlook
- Meat Poultry Seafood Market Market Channel Outlook
- Supermarkets and Hypermarkets
- Independent Grocers
- Convenience Stores
- Online Retailers
- Meat Poultry Seafood Market Processing Type Outlook
- Fresh
- Frozen
- Canned
- Processed
- Meat Poultry Seafood Market Animal Feed Outlook
- Grain-Based
- Forage-Based
- Mixed Rations
- Supplements
- Meat Poultry Seafood Market Application Outlook
- Human Consumption
- Pet Food
- Animal Feed
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.43(USD Billion) |
| Market Size 2023 |
1.48(USD Billion) |
| Market Size 2032 |
2.1(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.94% (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 |
Cargill, Incorporated ,OSI Group, LLC ,Pilgrim's Pride Corporation ,BRF S.A. ,NH Foods Ltd ,Tyson Foods, Inc. ,Marfrig Global Foods S.A. ,Sanderson Farms, Inc. ,WH Group Limited ,Smithfield Foods, Inc. ,George's Inc. ,Perdue Farms Incorporated ,Hormel Foods Corporation ,JBS S.A. |
| Segments Covered |
Product Type ,Market Channel ,Processing Type ,Animal Feed ,Application ,Regional |
| Key Market Opportunities |
Growth of ecommerce Increasing disposable incomes Rising health consciousness Convenient packaging and Increasing demand for premium products |
| Key Market Dynamics |
Rising consumer health consciousness growing demand for protein increasing meat consumption in emerging economies expansion of ecommerce platforms and technological advancements in food processing |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Meat Poultry Seafood Market is expected to have an overall valuation of 2.1 USD Billion in 2032.
The Meat Poultry Seafood Market is expected to have a CAGR of 3.94% from 2023 to 2032.
The Asia Pacific region is expected to have the largest market share in the Meat Poultry Seafood Market in 2023.
The fresh segment is expected to have the largest market share in the Meat Poultry Seafood Market in 2023.
Some of the key competitors in the Meat Poultry Seafood Market include Tyson Foods, JBS, Cargill, and Smithfield Foods.
Some of the key trends in the Meat Poultry Seafood Market include the growing demand for protein, the increasing popularity of convenience foods, and the rising awareness of food safety.
Some of the challenges facing the Meat Poultry Seafood Market include the volatility of commodity prices, the impact of climate change, and the increasing regulatory pressure.
Some of the opportunities for growth in the Meat Poultry Seafood Market include the growing demand for protein in emerging markets, the development of new products, and the expansion of e-commerce.
The COVID-19 pandemic is expected to have a significant impact on the Meat Poultry Seafood Market. In the short term, the pandemic is expected to lead to a decline in demand for meat, poultry, and seafood. However, in the long term, the pandemic is expected to accelerate the adoption of e-commerce and other digital technologies, which could lead to new opportunities for growth in the Meat Poultry Seafood Market.
