Meat Market Set to Soar, Projected Worth Reaches $1,345.9 Billion by 2029

Meticulous Research®, a distinguished leader in global market research, has unveiled its latest study entitled "Meat Market by Product Type (Processed Meat, Fresh Meat), Animal Type (Cattle and Buffalo, Pig, Poultry, Sheep, and Goat), by Distribution Channel (Business to Consumer (B2C), Business to Business (B2B)) - Global Forecast to 2029."

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According to this comprehensive report, the meat market is poised to reach a substantial value of $1,345.9 billion by the year 2029, reflecting a robust CAGR of 5.7% during the forecast period from 2022 to 2029. In terms of volume, the market is projected to attain 374.4 million tons cwe by 2029, with a CAGR of 1.1% during the same forecast period. This surge is primarily fueled by the escalating demand for animal-based food products, protein-rich diets, and functional meat offerings. Additionally, the increasing consumer awareness regarding organic processed meat items and gluten-free alternatives presents promising growth prospects for stakeholders operating in the meat market. However, challenges such as concerns over the carcinogenic effects of processed meat and the burgeoning awareness regarding meat alternatives may impede market expansion to some degree.

The research delves into historical market data in terms of value and volume for the years 2020 and 2021, alongside estimated current data for 2022 and forecasts extending to 2029. It scrutinizes various facets of the market, including animal type (such as cattle and buffalo, pig, poultry, sheep, and goat), product type (comprising processed meat like frozen, chilled, and canned, as well as fresh meat), and distribution channels (ranging from business to consumer (B2C) to business to business (B2B)). Moreover, the study conducts a thorough analysis of industry competitors and evaluates the market at both regional and country levels.

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By animal type, the cattle and buffalo segment is anticipated to dominate the global meat market in 2022, driven by the escalating demand for beef, a significant protein source. Similarly, the processed meat segment is expected to maintain its lead in 2022 under product type, owing to its convenience, wide availability, prolonged shelf life, and surging demand for ready-to-cook food items amid busy lifestyles and increasing urbanization. As for distribution channels, the business to consumer (B2C) segment is poised to seize a substantial share in 2022, buoyed by the proliferation of supermarkets and hypermarkets, consumer preference for brick-and-mortar grocers, and the burgeoning utilization of e-commerce platforms for essential purchases.

Geographically, the meat market's epicenter is forecasted to be in Asia-Pacific in 2022, driven by factors such as growing awareness of protein-rich diets, technological advancements, burgeoning economies, and robust meat demand in nations like China and India. The report also encompasses detailed analyses of other major geographies, including North America, Europe, Latin America, and the Middle East & Africa.

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The study additionally provides a competitive landscape, spotlighting key strategic developments undertaken by prominent market players over the past 4-5 years. Notable companies profiled in the report include 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), among others.

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This release was published on openPR.