Meat Market Estimated Growth Curve And Demand Analysis 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Meat 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 market size has grown strongly in recent years. It will grow from $1155.33 billion in 2023 to $1243.91 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to population growth and urbanization, rising affluence and middle-class expansion, cultural and dietary preferences, globalization of food markets, technological advancements in processing.

The meat market size is expected to see strong growth in the next few years. It will grow to $1652.28 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to health and wellness trends, plant-based and alternative proteins, environmental and ethical considerations, e-commerce and direct-to-consumer sales, regulatory changes and standards. Major trends in the forecast period include growing interest in exotic and novelty meats, emphasis on sustainable and regenerative agriculture practices, development of hybrid meat products, focus on local and ethically sourced meat, introduction of 3D-printed meat.

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Market Drivers and Trends:

Growing meat consumption is expected to boost the growth of the meat market going forward. Meat refers to the flesh or other edible components of animals (often domesticated cattle, swine, and sheep) used for food, which may also include tendons, ligaments, and muscles. Consumption of meat is increasing worldwide as it is a good source of protein and contains a number of vitamins and minerals, such as selenium, niacin, and vitamin B12. For instance, in December 2023, according to reports published by Sentient Media., a US-based, non-profit media organization, every year, the average American consumes 224.6 pounds of meat, which includes cattle, pigs, broilers, and turkey. These numbers are expected to increase in the future. Furthermore, according to an article published in February 2021 by The Culinary Institute of America, a private institution for food and wine education based in the United States, the average adult male American consumes 75% more protein than is required, while the average adult female American consumes 50% based foods, such as meat, fish, poultry, eggs, and dairy. Therefore, growing meat consumption is driving the growth of the meat market.

Product innovations have emerged as the key trend gaining popularity in the meat market. Major companies operating in the meat market are developing innovative products to strengthen their position in the market. For instance, in February 2021, Tyson Foods Inc., a US-based food processor and marketer of chicken, beef, and pork, introduced Jimmy Dean Loaded Sausage Bites and Omelet Minis. The Jimmy Dean Loaded Sausage Bites and Omelet Minis are created in a single-serve cup with breakfast meats, eggs, and cheese, whereas Meat Lovers or Turkey Sausage contain 16 to 19 grams of protein, whereas Sausage & Cheddar and Gouda & Bacon contain 13 to 14 grams of protein. The Jimmy Dean Loaded Sausage Bites and Omelet Minis are intended to provide a quick warm breakfast or snack with the flavors.

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Major Key Players of the Market:

WH Group Limited, Pilgrim's Pride Corporation, Smithfield Foods Inc., Hormel Foods Corporation, Conagra Brands Inc., National Beef Packing Company LLC, Danish Crown A/S, Seaboard Corporation, Cargill Incorporated, JBS S.A., Sysco Corporation, Tyson Foods Inc., NH Foods Ltd., OSI Group LLC, Perdue Farms Incorporated, Minerva Foods S.A., Vion Food Group N.V., Marfrig Global Foods S.A., Maple Leaf Foods Inc., Swift Pork Company, BRF Global S.A., Triumph Foods LLC, Sanderson Farms Inc., Cherkizovo Group OJSC, Wayne Farms LLC, West Liberty Foods LLC, Clemens Food Group Inc., The Maschhoffs LLC, Dawn Meats Group Limited, China Yurun Food Group Co Ltd.

Meat Market 2024 Key Insights:

• The meat market size is expected to see strong growth in the next few years. It will grow to $1652.28 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Rising Global Meat Consumption Propels Soaring Growth In The Meat Market
• Innovation Takes Meat Market Giants Unveil Breakfast Revolution
• Asia-Pacific was the largest region in the meat market in 2023

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This release was published on openPR.