The global meat market size reached US$ 1.4 Trillion in 2023.

BROOKLYN, NY, UNITED STATES, February 7, 2024 /EINPresswire.com/ -- The latest report published by IMARC Group, titled “Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on meat market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global meat market size reached US$ 1.4 Trillion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1.7 Trillion by 2032, exhibiting a growth rate (CAGR) of 2.01% during 2024-2032.

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Factors Affecting the Growth of the Meat Industry:

• Consumer Preferences and Dietary Trends:

The growth of the meat industry is significantly influenced by consumer preferences and dietary trends. In recent years, there has been a notable shift in consumer choices towards healthier and more sustainable options. Many consumers are now opting for leaner cuts of meat, organic and grass-fed products, and exploring alternatives such as plant-based meats. This shift is driven by health concerns, environmental consciousness, and ethical considerations. In response to these changing preferences, the meat industry has had to adapt and diversify its product offerings. Companies are investing in research and development to create meat alternatives that mimic the taste and texture of traditional meat while being more environmentally friendly. Additionally, they are promoting transparency in sourcing and production methods to meet the demands of consumers seeking higher quality and ethically sourced meat products.

• Regulatory and Environmental Factors:

Government regulations and environmental concerns play a pivotal role in shaping the growth of the meat industry. Stringent regulations related to food safety, animal welfare, and environmental sustainability impact the production and distribution of meat products. These regulations can vary significantly from one region to another, posing challenges for companies operating on a global scale. Environmental factors, such as the carbon footprint associated with meat production, have also garnered attention. The meat industry is under scrutiny for its contribution to greenhouse gas emissions, deforestation, and water usage. As a result, companies are increasingly adopting sustainable practices, such as reducing emissions, improving waste management, and implementing eco-friendly packaging solutions to mitigate their environmental impact and comply with evolving regulations.

• Technological Advancements and Supply Chain Efficiency:

Technological advancements have revolutionized the meat industry, affecting both production and distribution. Automation and robotics are being integrated into meat processing plants to enhance efficiency, reduce labor costs, and ensure product consistency. Cutting-edge technologies are also employed in meat traceability, allowing consumers to track the journey of their meat products from farm to table, thereby ensuring transparency and food safety. Supply chain efficiency is another critical factor influencing industry growth. Companies are optimizing their supply chains to reduce lead times, minimize waste, and meet increasing demand. With the rise of e-commerce and online grocery shopping, the meat industry has had to adapt its distribution channels to cater to the preferences of tech-savvy consumers who seek convenience and variety.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• BRF S.A.
• Cargill Incorporated
• Clemens Food Group
• Conagra Brands Inc.
• Hormel Foods Corporation
• JBS S.A.
• Minerva Foods SA
• NH Foods Ltd.
• Sysco Corporation
• Tyson Foods Inc.
• Vion Food Group
• WH Group Limited

Meat Market Report Segmentation:

By Type:

• Raw
• Processed

Raw meat represented the largest segment due to its widespread use as a primary ingredient in various culinary preparations, ranging from traditional dishes to modern cuisines.

By Product:

• Chicken
• Beef
• Pork
• Mutton
• Others

Chicken represented the largest segment because of its affordability, versatility, and popularity as a lean source of protein among consumers worldwide.

By Distribution Channel:

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

supermarkets and hypermarkets represented the largest segment owing to their extensive reach, convenience, and the ability to offer a wide variety of meat products to a diverse customer base.

By Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Asia Pacific was the largest market due to its large population, rising disposable income, and a growing appetite for meat-based diets, making it a lucrative market for meat producers and retailers.

Global Meat Market Trends:

The global market is primarily driven by the rising demand for high-quality meat products, driven by the growing global population, and changing dietary preferences. Additionally, the rapid globalization of food trade has opened up new export opportunities for meat producers, allowing businesses to expand their customer base and tap into regions with a growing appetite for imported meat products, further driving market growth.
Moreover, the increasing focus on health and wellness has led to a demand for leaner cuts of meat, free from additives and antibiotics is propelling the market growth. Furthermore, the rise of e-commerce platforms has provided a convenient channel for consumers to purchase meat, and businesses that invest in e-commerce capabilities can reach a broader audience, further contributing to market expansion.

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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