Global Meat Products Industry: Market Scope and Developments 2024

"The Business Research Company recently released a comprehensive report on the Global Meat Products Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The meat products market size has grown strongly in recent years. It will grow from $930.13 billion in 2023 to $984.04 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increased demand for flavored meat products, low interest rates, a rise in disposable income, and emerging markets growth.

The meat products market size is expected to see strong growth in the next few years. It will grow to $1211.05 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to rise in global population and continued technology development. Major trends in the forecast period include investing in robotics technology, considering making new ready-to-eat variants, considering producing plant based alternatives to lessen environmental impact, considering integrating 3d imaging systems, investing in virtual reality to increase the efficiency, considering offering online delivery services, considering artificial intelligence technology to increase productivity of meat processing and quality and safety of the meat product, monitoring developments in cultured meat technology, and exploit transformational opportunities from the developments in nanotechnology in the food industry.

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Market Drivers and Trends:

The world's population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food, including meat products. According to ""The Agricultural Outlook"" by the OECD and FAO, global cereal production is projected to increase by 13% by 2027. Crop production, farming activities, and trade volumes will have to increase in order to meet the increased population. Therefore, companies in this market are expected to benefit from the rising demand for meat products due to the rising population during the forecast period.

Meat processing companies are adopting robotics and automation technology to maximise production efficiency. Robotic systems automate deboning, cutting, butchering, and monitoring processes in meat production. This decreases cycle times and increases throughput. Automation enables meat processing companies to improve plant conditions, reduce contamination, and make meat processing safer for workers as well as consumers. Robots can help manufacturers transfer a wide range of meat and sausages from conveyor belts to trays at a rate of up to 240 cycles per minute. Plants with fixed automation systems increase yields by at least 2-3%. For example, Image-Meater from CSB is a special hardware and software solution that fully classifies the sides of the pork automatically into different quality levels. Also, JBS, the world's largest meat processor, has acquired a majority stake in Scott Technology Ltd., a leading robotics manufacturer, to automate its meat processing plants to capitalize on the growing demand for automation in meat processing plants.

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Major Key Players of the Market:

Georgia-Pacific, Weyerhaeuser, Boise Cascade, West Fraser Timber Co Ltd, Universal Forest Products, UPM-Kymmene Corporation, Metsa Group, Potlatch Corporation, Austral Plywoods Pty Ltd, Eksons Corporation Bhd,, Jilin Sen Workers' Forming Group Co., Ltd., Daya Shengxiang Home Co., Ltd., Xuzhou Mega Industries, Yalong Wood, Century Plyboards India Ltd, Greenply Industries Ltd, HOKUSAN, Caledonian Plywood Company Ltd, Hanson Plywood, Garnica Plywood Samazan, IMCA Panels, Templin OHG, Syktyvkar Plywood Mill LTD, Plyterra Group, Segezha Group, JAF Group, Au-Mex, Hancock Timber Resource Group, RSH Forest Products, Sierra Pacific, Berneck, Araupel, Linea Parana Madeiras Ltda, Imaribo, Middle East Wood, Mazi Orman Urunleri Ltd., Dastas Demircioglu Agac A.S., Daco Parquet Factory AS, Gabon Veneer, Merensky, Miro Forestry and Timber Products, United Forest Products, Afeefa Overseas Sarl Gabon, Okoume Face Veneer.

Meat Products Market 2024 Key Insights:

• The meat products market size is expected to see strong growth in the next few years. It will grow to $1211.05 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.
• Rising Global Population Spurs Demand For Meat Products, Driving Opportunities For The Food Industry
• Robotic Automation Revolutionizes Meat Processing For Enhanced Efficiency And Safety
• Asia-Pacific was the largest region in the meat products market in 2023

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This release was published on openPR.