The Global Meat Products Market Size was valued at USD 46.59 Billion in 2022 and the Worldwide Meat Products Market Size is expected to reach USD 97.64 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: Associated British Foods plc, Baiada, Cargill, Cremonini S.p.A, Danish Crown Vej, Hormel Foods Corporation, JBS SA, Maple Leaf Foods, Marfrig Global Foods S.A., Minerva Foods SA, Plukon Food Group, Resource Agribusiness Group, Tyson Foods, Inc., Vion Group, VOUDOURIS – KONSTAS SA and Other Key Vendors.
New York, United States, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The Global Meat Products Market Size to Grow from USD 46.59 Billion in 2022 to USD 97.64 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.68% during the forecast period.
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Fresh or cooked meat made entirely or partially from the meat or carcass of cattle, sheep, pigs, goats, or other animals is referred to as meat products. Meat comes in two varieties: processed meat and fresh meat. Cultured meat and plant-based meat are two other types of meat products. Cultured meat, also known as clean meat, is grown in a bioreactor under controlled conditions. Cultured meat is made from cells extracted directly from animal tissues to match the sensory and nutritional qualities of traditional meat. Processed meat is meat that has been preserved by salting, fermenting, or adding chemicals to increase shelf life and flavor. The global market for meat products is a dynamic and diverse food industry sector, encompassing a wide range of products such as beef, poultry, pork, lamb, and processed meats. Meat product demand has been steadily increasing in recent years due to a variety of factors, and there are no signs of this trend slowing. The primary factors driving the meat market's growth are rising demand for animal-based food, protein-rich diets, and functional meat products. Furthermore, rising demand for gluten-free products and increased awareness of organic processed meat products are expected to provide meat market stakeholders with lucrative growth opportunities.
Browsekey industry insights spread across 200pages with 120market data tables and figures & charts from the report onthe"Global Meat Products MarketSize By Animal (Beef, Pork, Poultry, and Others), By Type (Processed, Frozen, Canned/Preserved, Chilled, Fresh), By Distribution Channel (Retail, Food Service, E-Commerce), By Nature (Conventional and Organic), By Geographic Scope And Forecast, 2022 – 2032."
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Meat Products Market Price Analysis
Feed, labor, transportation, and energy are all factors that influence the price of meat products. Due to factors such as droughts, floods, and animal diseases, meat prices have been volatile in recent years. Despite these challenges, the market for meat products is expected to grow in the coming years.
Meat Products Market Opportunity Analysis
The meat industry is being transformed and advanced by technological advancement, which is driving its growth and evolution. These advancements improve product quality, extend shelf life, and reduce waste significantly. Modern meat processing equipment enables precise and controlled methods, resulting in consistent cuts with high taste and quality standards. This not only demonstrates the industry's commitment to safety and regulatory compliance, but it also helps to increase consumer satisfaction.
Insights by Type
The frozen segment account forthe biggest market share from 2023 to 2032. Frozen meat's growing popularity in the meat products market reflects changing consumer preferences and lifestyle needs. Frozen meat's increasing popularity is reshaping the dynamics of the meat products market, resulting in market expansion, increased competition, and increased global market penetration.
Insights by Distribution Channel
The food service segment accounted for the largest market share over the forecast period 2023 to 2032. The restaurant industry is constantly adapting to changing trends, which contributes to the continued and growing popularity of meat-based offerings. Restaurants, takeaways, and caterers cater to a variety of culinary preferences, offering a variety of meat-based dishes to satisfy a variety of tastes and cultural preferences.
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Insights by Region
North America is expected to dominate the aircraft pump market from 2023 to 2032. The existence of meat production operations in North America, as well as the availability of several product variants and flavors that consumers prefer based on their tastes, account for the majority share of the meat products market.
Europe will have the fastest market growth between 2023 to2032. Because of the region's growing emphasis on health awareness, the European market presents significant business opportunities for meat product manufacturers. This increased awareness has resulted in an increase in demand for meat products, aided by an increasing number of manufacturers entering the market and introducing new products. Concerns about sustainability and a greater emphasis on health practices are driving this shift.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Players in the Global Meat Products Market include Associated British Foods plc, Baiada, Cargill, Cremonini S.p.A, Danish Crown Vej, Hormel Foods Corporation, JBS SA, Maple Leaf Foods, Marfrig Global Foods S.A., Minerva Foods SA, Plukon Food Group, Resource Agribusiness Group, Tyson Foods, Inc., Vion Group, VOUDOURIS – KONSTAS SA and Other Key Vendors.
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Market Developments
In September 2023, Minerva Foods SA (Brazil)accomplished its USD 40 million acquisition of Breeders and Packers Uruguay SA (BPU Meat), a subsidiary of NH Foods. Minerva Foods significantly increased its total slaughter capacity with this acquisition, which now stands at 3,700 heads per day, distributed across four refrigeration units, including the newly acquired BPU Meat.
In August 2023, Minerva Foods SA (Brazil)has acquired the majority of Marfrig's South American cattle and sheep slaughtering and deboning operations. The transaction cost USD 1.45 billion. The transaction is expected to broaden Minerva's geographical reach.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
Meat Products Market, Animal Analysis
Beef
Pork
Poultry
Others
Meat Products Market, Type Analysis
Processed
Frozen
Canned/Preserved
Chilled
Fresh
Meat Products Market, Distribution Channel Analysis
Retail
Food Service
E-Commerce
Meat Products Market, Nature Analysis
Conventional
Organic
Meat Products Market, Regional Analysis
North America
US
Canada
Mexico
Europe
Germany
Uk
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
South America
Brazil
Argentina
Colombia
Middle East & Africa
UAE
Saudi Arabia
South Africa
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