Meat Market to Reach $1.52 Trillion by 2031

 

Meticulous Research^®—a leading global market research company, published a research report titled ‘Meat Market—Global Opportunity Analysis and Industry Forecast (2024-2031).’ According to this latest publication from Meticulous Research^®, the meat market is expected to reach $1.52 trillion by 2031, at a CAGR of 6% from 2024 to 2031.

The increasing demand for animal-based foods, a shift toward protein-rich diets, and a rise in the popularity of functional meat products are factors driving the growth of the meat market. Additionally, rising awareness and demand for organic processed meat products are anticipated to create growth opportunities for market participants. Furthermore, the rise of e-commerce and the rising demand for gluten-free options are prominent trends in this market.

Key Players:

The meat market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the meat market are 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).

The meat market is segmented based on type, product, and distribution channel. This study also evaluates industry competitors and analyzes the regional and country-level markets.

Among the animal types studied in this report, in 2024, the cattle and buffalo segment is expected to dominate the meat market. Factors contributing to the segment’s dominant position in the meat market include the increasing demand for beef as a major protein source, growing awareness of the nutritional benefits of high-protein foods, and a rising consumer preference for beef over other meats such as poultry and pork due to health concerns associated with these meats.

Among the products studied in this report, in 2024, the processed meat segment is expected to dominate the meat market. Factors contributing to the segment's dominant position in the meat market include the growing need to extend the shelf life of meat products and the increasing demand for ready-to-cook and ready-to-eat food items worldwide, largely due to busy lifestyles. Additionally, rising urbanization and increasing per capita incomes are expected to further boost the growth of the processed meat market during the forecast period.

Among the distribution channels studied in this report, in 2024, the business-to-consumer (B2C) segment is expected to dominate the meat market. Factors contributing to the segment’s dominant position in the meat market include the rise in online shopping. Additionally, modern grocery formats, including supermarkets and hypermarkets, are widely preferred by consumers in the meat market due to the wide range of product availability in these stores.

This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S., Canada), Europe (France, Spain, Italy, Germany, U.K., Rest of Europe), Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), and the Middle East & Africa (South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa).

Among the regions studied in this report, in 2024, Asia-Pacific is expected to dominate the meat market. Asia-Pacific’s major market share can be attributed to several factors, including a growing population, increasing urbanization, rising disposable incomes, and high demand for meat and meat products in developing countries like China and India. Additionally, the increase in the middle-class population across Asian nations, particularly Vietnam and Indonesia, is anticipated to further drive the growth of the meat market during the forecast period. In 2024, China is expected to account for the largest share of the meat market in the Asia-Pacific region.

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Key Questions Answered in the Report-

• What is the revenue generated from the sales of meat globally?
• At what rate is the global demand for meat projected to grow for the next five to seven years?
• What is the historical market size and growth rate for the meat market?
• What are the major factors impacting the growth of this market at the global and regional levels?
• What are the major opportunities for existing players and new entrants in the market?
• Which animal type, product, and distribution channel segments create major traction for the manufacturers in this market?
• What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the meat market?
• Who are the major players in the meat market? What are their specific product offerings in this market?
• What are the recent developments in the meat market? What are the impacts of these strategic developments on the market?

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