The Global Market for Fresh Meat is Projected to Exceed 318 Million Metric Tons by 2024

Higher Amounts of Essential Amino Acids & Easy Digestibility Compared to Plant Proteins Drive Demand for Animal Proteins, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Meat (Fresh and Processed) market. The global market for Fresh Meat is projected to exceed 318 million metric tons by 2024, driven by the rising popularity of meat as a powerful and valuable animal protein in the food industry amidst the vital need to meet food security concerns of the expanding global population.

Consumption of meat, over the years, improved significantly across the world. The meat market is markedly influenced by variations in income, population, exports and meat consuming preferences and is a complex web of culturally diverse markets with high political sensitivity. With rapidly increasing world population, healthy growth in meat consumption is inevitable. The global push for higher protein diets will inevitably lead to a spurt in per capita consumption of meat. Urbanization promotes the spread of retail, in turn boosting the sale and consumption of meat products. Meat can typically be classified into two types, fresh and processed. Fresh meat is cut from freshly slaughtered carcasses. Processed meat is a product wherein properties of fresh meat are modified by means of various procedures such as mincing, grinding or chopping, salting, curing, and addition of seasoning, among others.

Future growth will be primarily driven by rising awareness about the importance of protein in diets. Over the years, consumer demand for proteins has recorded strong growth, led by their perceived deficiency of this vital nutrient, increasing awareness and use of meat proteins, and the growing proliferation of protein-based products in a variety of food & beverage products. With convenience-seeking and high-income consumers being the primary user group, value-added poultry and meat products present huge opportunities for future growth. Recent innovations in flavors, textures, size, shapes, and value additions such as convenient on-the-go food characteristics have all taken meat snacks to higher levels. Other important growth drivers encouraging market expansion through better quality and quantity of meat include low transportation costs, improved distribution system, highly developed slaughter facilities, improved disease control measures, better management policies and improved genetics, among others. Growing prominence of lab-grown meat or clean meat, touted as the next big food revolution, is also expected to benefit market prospects in the long term. Clean meat represents the real meat with the same texture, consistency, and taste that people like to eat but grown under a sterile, controlled environment without using antibiotics and eliminates the risk of fecal contamination, like salmonella.

As stated by the new market research report on Meat (Fresh and Processed), Asia-Pacific (including China) represents the largest and the fastest growing market worldwide with a CAGR of 2.4% over the analysis period. Fast-paced economic development, changing consumer lifestyles, ballooning population, rising income levels, increasing demand for convenience foods, significantly lower per capita consumption levels of meat compared to the developed counterparts, and strong demand for poultry meat that is considered the most easily accessible as well as the cheapest source of animal protein represent important growth drivers in the region. China represents the single largest producer, consumer, importer as well as exporter of meat and meat products in the world.

Key players in the market include BRF S.A., Cargill Meat Solutions Corporation, Conagra Brands Inc., Cremonini S.p.A., Dawn Farm Foods Limited, Elpozo Alimentación S.A., Foyle Food Group Ltd., Hormel Foods Corporation, Itoham Foods Inc., JBS S.A., Kepak Group Limited, Leverandørselskabet Danish Crown AmbA, Marfrig Global Foods S.A., Perdue Farms Inc., San Miguel Pure Foods Company Inc., Tyson Foods Inc., VION Holding N.V., WH Group Limited, and Smithfield Foods Inc., among others.

The research report titled “Meat (Fresh and Processed): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, mergers, acquisitions, and other strategic industry activities of major players worldwide. The report provides market estimates and projections in metric tons for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), China, Asia-Pacific (India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Rest of World. Product segments analyzed in the report include Pork; Lamb & Goat; Beef & Veal; and Poultry.

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