Meat Market to Reach US$ 1.6 Trillion by 2028 | Top Companies (Hormel Foods Corporation, NH Foods, Tyson Foods, Minerva Foods SA, Vion Food Group, and WH Group)

Industry Overview:

Meat refers to a food item that is generally obtained from rabbits, chickens, cows, pigs, goats, sheep, lamb, duck, and deer. Meat includes connective tissue, skeletal muscles, bones, and fats that is widely consumed due to its various nutritional benefits. It is a rich source of essential minerals, proteins, fats, iodine, iron, vitamin B12, bioactive compounds, amino acids, carbohydrates, and fatty acids that aid in strengthening bones and muscles, enhancing metabolism and brain function, promoting reproductive health, improving heart health, and controlling blood sugar levels. As a result, it is extensively utilized in the preparation of burgers, hotdogs, sausages, pepperoni, and steak stews and is widely served across cafes and restaurants to provide consumers with authentic and multi-cuisine dishes.

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Industry Growth:

The global meat market size reached US$ 1.4 Trillion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.6 Trillion by 2028, exhibiting a growth rate (CAGR) of 2.3% during 2023-2028. The global market is primarily driven by the increasing preference for protein-rich diets among the masses. This can be attributed to the changing dietary patterns and the rising health consciousness of individuals. Moreover, the growing consumer awareness and the expanding poultry sector are further catalyzing the growth of the meat market. In response to the escalating demand, numerous major companies are introducing less expensive and label-friendly processed meat products, which are gaining widespread prominence among the masses. Besides, the wide utilization of meat products by numerous food chains, cafes, and restaurants is contributing to the sales of meat varieties across the globe. Besides this, constant improvements in organized distribution channels and the emerging e-commerce sector are positively impacting the market.

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Competitive Landscape with Key Players:

• BRF S.A.
• Cargill Incorporated
• Clemens Food Group
• Conagra Brands Inc.
• Hormel Foods Corporation
• JBS S.A.
• Minerva Foods SA
• NH Foods Ltd.
• Sysco Corporation
• Tyson Foods Inc
• Vion Food Group
• WH Group Limited

Also Read Top Meat Companies in the World: https://www.imarcgroup.com/meat-companies

Industry Demand:

Furthermore, various technological advancements, such as the utilization of robotics and automation technology for the processing of meat that aid in preventing contamination, enhancing production efficiency, and minimizing cycle time, are providing a thrust to the demand for meats across the globe. In line with this, continuous product innovations, such as the development of additive and chemical-free meat, are acting as another growth inducing factor. Along with this, the rising initiatives undertaken by the governments to promote and financially assist poultry farming across several countries are creating a positive market outlook. Other, including the increasing consumption of poultry and pork meat, inflating disposable income levels of the masses, the advent of home delivery models, and extensive research and development (R&D) activities by leading players, are also influencing the market.

Key Market Segmentation:

Breakup by Type:

• Raw
• Processed

Breakup by Product:

• Chicken
• Beef
• Pork
• Mutton
• Others

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Departmental Stores
• Specialty Stores
• Online Stores
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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