Meat Products Market to Witness Propelling Growth by 2030 Due to the Growing Demand for Ready-to-Eat Meat Products Worldwide

The global meat products market is projected to witness prominent growth over the forecast period due to the rising demand for ready-to-eat meat products and the growing adoption of processed meat across the globe. The Europe market is estimated to observe significant growth in the analysis period.

According to Research Dive, the global meat products market is estimated to generate a revenue of $387.6 billion by 2030 and grow at CAGR of 3.95% over the forecast period (2022 to 2030).

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Market Dynamics

The key factor boosting the growth of the global meat products market is the rising demand for ready-to-eat meat products that are not only rich in nutrition owing to their high protein content and low cholesterol & calorific values but also tasty and flavorful. Moreover, the growing number of people preferring ready-to-eat meat products owing to their busy work schedules and hectic lifestyles is projected to create lucrative opportunities for the growth of the market in the forecast period. However, health related concerns, such as fear of acquiring diseases like cancer with the frequent consumption of processed meat products, and growing popularity of vegan diets among people are expected to hinder the market growth.

COVID-19 Impact on the Meat Products Market

The COVID-19 pandemic has had a disrupting impact on the global meat products market growth. The implementation of lockdown ceased the functioning of restaurants, cafes, and hotels across the world. Moreover, there has been a significant decline in the production of meat products owing to problems in the supply of raw meat due to disruptions in supply chains during the crisis period. All these factors are greatly hampering the growth of the market amidst the pandemic period. However, as the pandemic situation is relaxing, production as well as demand for ready-to-eat meat products is surging. This is likely to fuel the meat products market growth post-pandemic period.

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Segments of the Market

The report has segmented the meat products market into processed meat type, meat type, packaging, and region.

By processed meat type, the hamburgers meat products sub-segment is expected to grow considerably and garner $169.7 billion during the forecast period. This growth is chiefly owing to the widespread popularity and demand for hamburgers among young consumers worldwide.

By meat type, the pork meat products sub-segment is anticipated to hold a leading market share and hit $149.5 billion during the forecast period. This growth is chiefly owing to the rising consumption of pork meat products as they are tasty and contain loads of nutrients.

By packaging, the chilled meat products sub-segment is anticipated to observe leading growth and garner $219.9 billion during the forecast period. This is chiefly owing to the rising purchases of chilled meat products as they are safe to consume owing to their low temperature which prevents the growth of harmful microorganisms and bacteria in the meat products.

By region, the Europe meat products market is projected to garner a revenue of $142.6 million by 2030 and subjugate in the meat products market during the forecast period. The surging growth of the region can be attributed to the growing demand for processed meat products that are rich in protein and the rising disposable income of people in this region.

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Prominent Market Players

Some of the top players of the global meat products market are BRF S.A., Clemens Food Group, Cargill, Incorporated, Conagra Brands Inc., JBS S.A., Hormel Foods Corporation, Minerva Foods SA, Sysco Corporation, NH Foods Ltd., and Tyson Foods. These players are applying various strategies to gain a competitive edge and strong hold in the global industry.

For instance, in April 2022, Prasuma, a foremost chilled meat & frozen food product maker in India, launched a new range of snacks including frozen mutton and chicken shammi kababs, chicken nuggets, veg and chicken mini samosas, frozen veg and chicken spring rolls, and mutton and chicken seekh kababs and bacon to its frozen food product line.

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This release was published on openPR.