New York, USA, April 27, 2023 (GLOBE NEWSWIRE) -- 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). The comprehensive report provides a summary of the present market scenario comprising key aspects of the market, such as growth factors, lucrative growth opportunities, and restraining factors. Besides, the report provides all the meat products market trends, COVID-19 impact on the market, and market estimations making it easier, helpful, and useful for the new participants to understand the market.
Market Dynamics
As per our analysts, 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.
Request an Exclusive PDF Sample of the Meat Products Market (Including Tables, TOC, and Figures)
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, the 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.
Hamburgers Meat Products Sub-Segment to Hold a Leading Market Position
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.
Pork Meat Products Sub-segment to Hold Dominant Market Share
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.
Chilled Meat Products Sub-segment to Hold the Majority of Market Share
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.
Ask an Expert Analyst or Schedule a call to Get the Latest Trends on Meat Products Market
Europe Region to be Most Dominant
By region, Europe 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.
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.
- Tyson Foods
These players are applying various strategies to gain a competitive edge and strong hold in the global industry.
Request an On-Demand Customization of the Specific Segments or Regions on the Meat Products Market
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.
More about Meat Products Market:
- Meat Products: The Source of Essential Amino Acids, Vitamins, and Minerals
- Product Launches and Strategic Partnerships by Market Players such as Clemens Food Group, Tyson Foods, and Others to Foster the Growth of the Global Meat Products Market
