The global meat products market is valued at USD 44.3 billion in 2023 and is expected to grow steadily to USD 68.9 billion by 2028, registering a CAGR of 9.2%. Among all meat categories, poultry meat has seen the sharpest rise in consumption across most regions, largely due to its affordability, consistent quality, versatility in cooking, and high protein with lower fat content. On a per capita basis, this surge is particularly notable in densely populated developing countries such as China, India, Indonesia, Malaysia, Pakistan, Peru, the Philippines, and Vietnam—with Peru projected to surpass the United States as the second-largest per capita poultry consumer.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=53140407
Food Service Driving Market Growth
The food service sector is set to experience the fastest growth within the meat products industry. Restaurants, caterers, and takeaways are expanding their offerings of meat-based dishes to cater to diverse tastes and cultural preferences. Factors such as culinary innovation, convenience, and evolving consumer preferences continue to shape demand. The convenience of dining out—where consumers enjoy professionally prepared meals without the hassle of cooking—remains a key driver. Marketing strategies, menu promotions, and brand-building efforts by restaurants are further amplifying meat consumption in the food service industry.
The Rise of Frozen Meat
The frozen meat segment has become a game-changer, significantly influencing the overall market. With today’s busy lifestyles, consumers are increasingly opting for convenience and time-efficient solutions. Frozen meat products, which include a wide range of processed options, provide quick meal solutions with minimal preparation. Thanks to flash-freezing, IQF (Individual Quick Freezing), and cryogenic freezing technologies, frozen meat retains its nutritional quality, safety, and flavor, while offering extended shelf life.
This shift is also fueled by the globalization of cuisines, where demand for diverse meat options can be readily met by frozen products. As frozen meat continues to grow in popularity, it is reshaping the market through greater competition, expansion opportunities, and innovative marketing strategies. Manufacturers and retailers are capitalizing on this trend, positioning frozen meat as a trusted, high-quality choice for consumers worldwide.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=53140407
The US Market Outlook
The United States will maintain its dominance in the North American meat products market throughout the forecast period. In 2022, US consumers recorded higher per capita meat consumption and expenditure compared to both global and regional averages. Among product categories, chilled raw packaged meat (processed) led the market, followed by fresh meat counters, chilled whole cuts, frozen meat, and cooked meat (both packaged and counter options).
Consumption patterns showed higher meat intake among males, while hypermarkets and supermarkets emerged as the leading distribution channels, followed by food & drink specialists and convenience stores. In terms of packaging, rigid plastics dominated, with flexible packaging and rigid metal also widely used.
Key Industry Players
The market is shaped by influential companies such as Cargill (US), Hormel Foods Corporation (US), Verde Farms (US), and Lopez Foods, Inc. (US). These players benefit from strong manufacturing facilities and well-established global distribution networks, ensuring product availability across major regions including North America, Europe, South America, and Asia Pacific. Their strategic presence and innovation continue to drive competition and growth within the global meat products market.
