Wilmington, Delaware, United States, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global frozen meat market is estimated to flourish at a CAGR of 3.6% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for frozen meat is estimated to reach US$ 31.7 billion by the end of 2031. Growing awareness of health-conscious consumer choices is driving the demand for frozen meat products with minimal additives, preservatives, and healthier processing methods.
The rise of plant-based frozen meat substitutes is influencing the market, reflecting shifting dietary preferences and a surge in vegetarian and flexitarian lifestyles. Manufacturers are focusing on innovative frozen meat product formulations, incorporating diverse flavors, ethnic cuisines, and unique recipes to meet evolving consumer tastes and preferences.
Environmental consciousness is driving the adoption of sustainable and eco-friendly packaging for frozen meat products, aligning with consumer demands for responsible consumption. Increasing emphasis on locally sourced and ethically produced frozen meat options, responding to consumers' interest in supporting regional economies and sustainable agricultural practices.
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Frozen Meat Market: Competitive Landscape
The frozen meat market is marked by intense competition, with key players driving innovation and quality. Industry leaders such as JBS S.A., Tyson Foods Inc., and BRF S.A. dominate, leveraging extensive global networks and diverse product portfolios.
These giants compete with regional players like Marfrig Global Foods and NH Foods Ltd., fostering a dynamic market environment. Strategic acquisitions, product diversification, and adherence to stringent quality standards characterize the competitive landscape.
As consumers seek convenient, high-quality frozen meat products, the market's competitive dynamics continue to evolve, with companies aiming for market share through differentiation and responsiveness to changing consumer preferences. Some prominent manufacturers are as follows:
- Cargill Incorporated
- Kerry Group Plc
- Marfrig Group
- BRF S.A.
- Associated British Foods Plc.
- Tyson Foods
- Pilgrim’s Pride Corporation Inc.
- Verde Farms LLC
- Arcadian Organic & Natural Meat Co.
- JBS S.A.
- VH Group
- AJC International Inc.
- Keystone Foods
- Mindful Meats
- Pitrman Family Farms
Product Portfolio
- JBS S.A. is a global leader in the food industry, offering a diverse product portfolio. Renowned for high-quality meat products, JBS provides a range of beef, poultry, and pork solutions, meeting the demands of consumers worldwide with a commitment to sustainability and excellence.
- VH Group stands as a prominent player in the poultry industry, specializing in the production of premium-quality eggs and poultry products. With a focus on innovation and sustainability, VH Group ensures a consistent supply of nutritious and responsibly sourced products.
- AJC International Inc. excels in global food trade, providing a comprehensive product portfolio. Specializing in poultry, pork, beef, and seafood, AJC International delivers quality food products worldwide, emphasizing reliability, sustainability, and customer satisfaction.
Key Findings of the Market Report
- Chicken leads the frozen meat market, driven by its versatility, widespread popularity, and consumer preference for convenient, lean protein options.
- Retail/household stands as the leading end-use segment in the frozen meat market, driven by consumer demand for convenient and accessible food options.
- Hypermarkets/supermarkets lead the frozen meat market distribution channel, offering a wide variety of frozen meat products to diverse consumer segments.
Frozen Meat Market Growth Drivers & Trends
- Busy lifestyles drive increased consumption of frozen meat products.
- Urbanization contributes to the growth of the frozen meat market, catering to on-the-go consumers.
- Diverse culinary preferences and globalization trends fuel demand for a variety of frozen meat products.
- Growing affluence in emerging economies leads to greater affordability and accessibility of frozen meat options.
- Innovations in cold chain logistics ensure the quality and safety of frozen meat products, boosting market expansion.
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Global Frozen Meat Market: Regional Profile
- North America boasts a mature market driven by the widespread adoption of frozen meat products, reflecting busy lifestyles and the demand for convenient yet high-quality food options.
- Europe emphasizes sustainability and diverse culinary preferences, contributing to a dynamic market.
- Asia Pacific shows substantial growth potential, fueled by rising disposable incomes, urbanization, and changing dietary habits. With a surge in demand for frozen meat products in countries like China and India, the region is a focal point for market expansion.
Frozen Meat Market: Key Segments
By Type
- Beef
- Chicken
- Pork
- Others
By End Use
- Food Processing Industry
- Foodservice
- Retail/Household
By Distribution Channel
- Business to Business
- Business to Consumer
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Online Retail
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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