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Meat Market Evolution: Key Drivers, Market Segments, and Future Outlook to 2030
Meticulous Research®, a renowned global market research company, has released a report titled “Meat Market by Product Type (Processed Meat, Fresh Meat), Animal Type (Cattle and Buffalo, Pig, Poultry, Sheep, and Goat), and Distribution Channel (Business to Consumer (B2C), Business to Business (B2B) - Global Forecast to 2029.”The report reveals that the global meat market is anticipated to reach $1,345.9 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2029. In terms of volume, the market is expected to reach 374.4 million tons CWE by 2029, with a CAGR of 1.1% during the forecast period. The market's growth is largely driven by increasing demand for animal-based foods, protein-rich diets, and functional meat products. Additionally, the rising awareness of organic processed and gluten-free meat products is expected to create lucrative opportunities for stakeholders. However, concerns over the carcinogenic effects of processed meat and growing interest in meat alternatives may temper market growth.
The report provides a comprehensive analysis of the global meat market, offering historical data (2020 and 2021), current estimates (2022), and forecasts for 2029. The study examines the market by animal type (cattle and buffalo, pig, poultry, sheep and goat, and other animals), product type (processed meat—frozen, chilled, and canned—and fresh meat), and distribution channel (B2C and B2B). It also evaluates key competitors and provides a regional and country-level market analysis.
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Segment Analysis:
- Animal Type: The cattle and buffalo segment is expected to dominate the global meat market in 2022, driven by the high demand for protein-rich beef. The segment's growth is further supported by the increasing preference for beef over other meats due to health concerns related to poultry and pork.
- Product Type: The processed meat segment is anticipated to lead the market in 2022, attributed to its convenience, longer shelf life, and rising demand for ready-to-cook products among busy consumers, particularly in urban areas with higher per capita incomes.
- Distribution Channel: The B2C segment is projected to hold the largest market share in 2022, fueled by the expansion of supermarkets and hypermarkets, consumer preference for physical shopping due to convenience, and the increasing use of e-commerce platforms for essential purchases.
The report also analyzes key regions, including 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 the Middle East & Africa.
Asia-Pacific is expected to account for the largest share of the global meat market in 2022, driven by increasing awareness of protein-rich diets, advancements in food technology, and strong demand for meat products in rapidly developing countries such as China and India. The region's rapid urbanization, rising incomes, and changing lifestyles are also contributing to the growing demand for convenient ready-to-cook meat products.
Quick Buy – Meat Market – Global Opportunity Analysis and Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/47325110
Key Market Players:
The report highlights the competitive landscape, detailing key strategic developments by major industry players over the past 4-5 years. Notable companies profiled include 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.
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