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U.S. Meat Market Size, Key Analysis And Comprehensive Growth Forecast Till 2028 | U.S. Meat Industry Research Report by 2021-2028

04-11-2022 08:45 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fortune Business Insights

U.S. Meat Market Size, Key Analysis And Comprehensive Growth

The U.S. meat market size is expected to reach USD 215.76 billion by 2028, exhibiting a CAGR of 3.21% during the forecast period. Consumers' increasing interest in protein-rich and diets will drive the market during the forecast period, states Fortune Business Insights, in a report, titled "U.S. Meat Market, 2021 - 2028." The market size stood at USD 170.38 billion in 2020.

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Top 10 Players Profiled in U.S. Meat Market are:

Tyson Foods, Inc. (Arkansans, U.S.)
Cargill, Inc. (Minnesota, U.S.)
Smithfield Foods, Inc. (Virginia, U.S.)
Hormel Foods Corporation (Minnesota, U.S.)
Conagra Brands, Inc. (Illinois, U.S.)
Foster Farms (California, U.S.)
Sysco Corporation (Texas, U.S.)
National Beef Packing Co., LLC (Missouri, U.S.)
Perdue Farms, Inc. (Maryland, U.S.)
OSI Group, LLC (Illinois, U.S.)
Market Segments:

Frozen Food Segment to Hold the Largest Share

Meat is a major part of the typical American diet, accounting for more than 15%, 40%, and 20% of daily energy, protein, and fat intake, respectively. A wide range of fresh, frozen, chilled, and canned meat is sold in the region, primarily to retailers and foodservice outlets. Because of its longer shelf life, higher demand, and capacity to transport, chilled meat dominated the industry. The rising consumption of frozen products in foodservice channels, especially restaurants, is driving the segment. Furthermore, frozen products are seen as a healthy alternative to canned products and more convenient due to the reduced processing time. The meat industry in the United States will expand due to the increasing attention of frozen food producers on the launch of new products.

Moreover, because of the growing trend toward white meat consumption, the poultry segment is expected to rise at a faster rate. The supermarket/hypermarket segment is expected to hold a significant market share. The investors are capitalizing on the comforts of customers to have a convenient shopping experience, which, in turn, will boost the supermarket/hypermarket segment.

The market report provides brilliant insights into the market, methodical data with thorough analysis, market dynamics and aspects demonstrating development and growth, meticulous details about key market players, and obtained statistics about dominant regions. COVID-19 is also covered in depth in the study.

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Driving Factor:

Rising Demand for Meat-based Goods among Fitness Enthusiasts to Propel Growth

Consumers' modern-day hectic lifestyles have increased the risk of lifestyle-related health conditions such as diabetes, cardiovascular disease, and obesity across the world. Consumer demand for protein-rich food items has increased as a result of the increasing trend of adopting high-protein diets to reduce the risk of these lifestyle-related health conditions. As a result, the growth of the industry would be aided.

High-protein diets are becoming more common among athletes and fitness enthusiasts. As a result, manufacturers are investing in new meat-based goods, as well as increased advertising campaigns, which are expected to improve sales in the U.S. Chicken, beef, and pork are increasingly being used by manufacturers to make healthy snacks. In addition, to capitalize on the rising demand for high-protein on-the-go snacks among customers, manufacturers are developing healthy snacks.

Competitive Landscape:

Product Launches by Well-known Companies to Boost Sales

The meat industry in the United States is moderately concentrated, with only a few multinational corporations having a significant market share. To further consolidate the industry, major players such as Tyson Foods, Inc., Cargill, Inc., and Smithfield Foods, Inc. are concentrating on new product growth, mergers, and acquisitions. The entry of small players into the industry has a huge impact on the market.

Key Development:

October 2019: Foster Farms purchased 19 poultry ranches in the central valley, adding to the company's existing facilities in California. The purchase would allow the company to meet the rising demand for antibiotic-free, certified organic, and free-range processed chicken products.

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