USD 1263.91 billion
Meat, Poultry and Seafood Market Size, Share, Growth Analysis, By Type(Meat (Beef, Pork), By Product(Processed and Uncured Meat, Fresh and Frozen Seafood), By Distribution Channel(Supermarkets and Hypermarkets, Convenience Stores) - Industry Forecast 2024-2031
Report ID:
SQMIG30I2324 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
98 |
Figures:
76
Meat, Poultry and Seafood Market Insights
Meat, Poultry and Seafood Market size was valued at USD 1263.91 billion in 2021 and is poised to grow from USD 1309.16 billion in 2022 to 1676.5 billion by 2030, growing at a CAGR of 3.18% in the forecast period (2023-2030).
The market is a rapidly growing industry that is driven by increasing demand for protein-rich foods and changing consumer preferences for healthier and more sustainable food products. The market is expected to grow at a steady pace during the forecast period, owing to factors such as rising global population, increasing disposable income, and growing consumer awareness regarding the nutritional benefits of meat, poultry, and seafood products. One of the key trends driving the growth of the market is the increasing demand for organic and natural meat, poultry, and seafood products. Consumers are becoming more health-conscious and are looking for products that are free from artificial additives and hormones. In addition, there is a growing trend of consumers preferring locally sourced and sustainable food products. Therefore, the market players are focusing on developing organic and natural product lines and are adopting sustainable farming practices to meet the changing demands of consumers.
In addition, the market is expected to witness significant growth due to the development of new production technologies and the adoption of sustainable farming practices. This is expected to drive the growth of the market in the coming years, as consumers are becoming increasingly concerned about the environmental impact of the meat, poultry, and seafood industry. Moreover, the growth of the market is also driven by the increasing demand for convenience foods, which has led to the emergence of new product offerings such as ready-to-eat meals and pre-cooked meat products.
US Meat, Poultry and Seafood Market is poised to grow at sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Supermarkets and Hypermarkets
Fastest Growth
Supermarkets and Hypermarkets
Growth Rate
3.18% CAGR
Global Meat, Poultry and Seafood Market 2022-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Meat, Poultry and Seafood Market Size By Distribution Channel 2022-2030 ($ Bn)
Global Meat, Poultry and Seafood Market Size By Distribution Channel 2022-2030 (%)
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Meat, Poultry and Seafood Market Segmental Analysis
Global Meat, Poultry and Seafood Market is segmented based on type, product, distribution channel, and region. Based on type, the market can be segmented into meat, poultry, and seafood. The meat segment is further sub-segmented into beef, pork, lamb, and others. The poultry segment is sub-segmented into chicken, turkey, and others. The seafood segment is sub-segmented into fish, crustaceans, and others. Based on product, the market can be segmented into processed and uncured meat, fresh and frozen seafood, and processed poultry. Based on the distribution channel, the market can be segmented into supermarkets and hypermarkets, convenience stores, online retailers, and others. Based on region the global Meat, Poultry and Seafood Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Meat, Poultry and Seafood Market Analysis by Distribution Channel
The Supermarkets and hypermarkets segment is the dominant segment in the global Meat, Poultry and Seafood market, accounting for a significant portion of the overall market share. This is because supermarkets and hypermarkets offer a one-stop-shop for customers to buy groceries, household items, and other products, making them a convenient option for consumers. Moreover, these retailers offer a wide range of meat, poultry, and seafood products from various brands and manufacturers, providing consumers with a variety of options to choose from. This has led to supermarkets and hypermarkets being the preferred choice for consumers to purchase meat, poultry, and seafood products.
Manufacturers and key brands in the market are expanding their product segments by launching fresh and frozen alternatives for consumers in supermarkets and hypermarkets. Fresh and frozen meat, poultry, and seafood products are gaining popularity among consumers due to their longer shelf life and convenience. By expanding their product segments to include fresh and frozen alternatives, manufacturers and key brands are able to cater to a wider range of consumers, including those who prefer to buy in bulk or those who prefer to buy products with a longer shelf life. This has enabled manufacturers and key brands to increase their revenue and market share in the global meat, poultry, and seafood market.
Global Meat, Poultry and Seafood Market By Distribution Channel, 2021 (%), 2023 (%)
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Meat, Poultry and Seafood Market Regional Insights
The North American region dominates the global meat, poultry, and seafood market, owing to the high consumption of meat and poultry products in the region. The United States is the largest market in the region, accounting for a significant share of the global market. The growth of the market in the region is driven by factors such as increasing consumer demand for convenient and ready-to-eat meat products and the rising trend of consuming high-protein diets. In addition, the development of new production technologies and the adoption of sustainable farming practices are further driving the growth of the market in the region. The Asia-Pacific region is one of the fastest-growing markets for meat, poultry, and seafood, owing to factors such as increasing disposable income, changing dietary habits, and a growing population. The region is dominated by countries such as China, India, and Japan, which account for a significant share of the global market. The growth of the market in the region is also driven by the increasing demand for convenience foods and the adoption of Western food habits.
The European market for meat, poultry, and seafood is also a significant market, driven by factors such as increasing consumer demand for organic and natural products and the rising trend of consuming protein-rich diets. The market is dominated by countries such as Germany, France, and the United Kingdom. The growth of the market in the region is also driven by the increasing demand for convenience foods and the adoption of Western food habits. The Latin American market for meat, poultry, and seafood is also a significant market, driven by factors such as rising disposable income and changing dietary habits. The region is dominated by countries such as Brazil, Argentina, and Mexico. The growth of the market in the region is also driven by the increasing demand for convenience foods and the adoption of Western food habits.
The Middle East and Africa market for meat, poultry, and seafood is a small but growing market, driven by factors such as increasing consumer demand for high-protein diets and the adoption of Western food habits. The region is dominated by countries such as Saudi Arabia, the United Arab Emirates, and South Africa. The growth of the market in the region is also driven by the increasing demand for convenience foods and the development of new production technologies.
Global Meat, Poultry and Seafood Market By Geography, 2022-2030, 2024-2031
- Largest
- Fastest
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Meat, Poultry and Seafood Market Dynamics
Meat, Poultry and Seafood Market Drivers
- One of the major drivers of the global meat, poultry, and seafood market is the changing dietary habits of people around the world. With rising income levels and increasing awareness about the benefits of a protein-rich diet, more and more people are consuming meat, poultry, and seafood products. In addition, the growing popularity of Western-style fast food chains and the convenience of packaged and ready-to-eat meat products are also driving the demand for meat, poultry, and seafood.
- Another key driver of the global meat, poultry, and seafood market is the advancements in technology in the food processing industry. The use of advanced technologies such as high-pressure processing, vacuum packaging, and modified atmosphere packaging has led to an increase in the shelf life of meat, poultry, and seafood products. These technologies have also improved the safety and quality of meat products, which has boosted consumer confidence in these products.
- The global meat, poultry, and seafood market is also being driven by increasing global trade. The growth of the global economy and the rise of international trade have made it easier for meat, poultry, and seafood products to be transported across borders. This has increased the availability of these products in new markets, which has led to increased demand. In addition, the ease of access to international markets has led to increased competition among producers, which has resulted in greater innovation and better-quality products.
Meat, Poultry and Seafood Market Restraints
- One of the main restraints of the global meat, poultry, and seafood market is the increasing awareness about the negative health impacts of consuming large amounts of these products. High intake of red meat, for instance, has been linked to an increased risk of heart disease, cancer, and other health issues. This has led to a growing number of consumers reducing their meat consumption or switching to alternative protein sources such as plant-based products, which could adversely affect the demand for meat, poultry, and seafood products.
- Another major restraint of the global meat, poultry, and seafood market is the growing concern about the environmental impact of meat production. The meat industry is known to be a major contributor to greenhouse gas emissions, deforestation, and water pollution. Consumers are becoming more aware of the impact of their food choices on the environment, which is leading to increased demand for sustainably produced meat, poultry, and seafood products. Producers need to implement more sustainable practices to meet the demand for environmentally friendly products.
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Meat, Poultry and Seafood Market Competitive Landscape
The global meat, poultry, and seafood market is highly competitive, with the presence of several global and regional players. The market is characterized by intense competition among the players, who are focusing on product innovation, quality, and pricing strategies to gain a competitive edge. In addition, companies are investing in research and development activities to develop new products and expand their product portfolio to cater to the changing consumer demands. Moreover, companies are also focusing on expanding their distribution networks and strengthening their supply chain to ensure timely delivery of products to their customers. The global market is also influenced by various factors such as government regulations, import-export policies, and changing consumer preferences. In addition, companies are also facing challenges such as increasing competition, volatile prices of raw materials, and rising concerns about animal welfare and environmental issues. To address these challenges, companies are adopting various strategies such as partnerships, collaborations, and acquisitions to expand their market share and improve their operational efficiency. Overall, the global meat, poultry, and seafood market is expected to witness intense competition among the players, with a focus on innovation and quality to meet the evolving demands of consumers.
Top Player’s Company Profiles
- WH Group Limited (China)
- BRF S.A. (Brazil)
- Marfrig Global Foods S.A. (Brazil)
- Hormel Foods Corporation (US)
- Nippon Ham Co., Ltd. (Japan)
- Charoen Pokphand Foods PCL (Thailand)
- Danish Crown A/S (Denmark)
- Yanjing Beer Group Corporation (China)
- Mowi ASA (Norway)
- NH Foods Ltd. (Japan)
- Toyo Suisan Kaisha, Ltd. (Japan)
- Grupo Alimentario Citrus S.A. (Spain)
- National Beef Packing Company, LLC (US)
- Perdue Farms Inc. (US)
- Sanderson Farms Inc. (US)
- OSI Group LLC (US)
- Nonghyup Feed Inc. (South Korea)
Meat, Poultry and Seafood Market Recent Developments
- In December 2021, Organic Prairie introduced a new product line featuring organic seasoned ground beef pre-seasoned with organic spices. The ground beef is free from synthetic contaminants, artificial pesticides, fertilizers, antibiotics, synthetic hormones, and GMOs, and is certified by the USDA organic program.
- In August 2021, Frozen Fish Direct unveiled its new e-commerce website, which provides access to 200 varieties of fresh seafood. The website offers customers the convenience of shopping for seafood from the comfort of their homes and has a wide range of options to choose from.
- In March 2021, Young's Seafood, a U.K.-based company, launched a new line of fish fillet strips. The new product line is available at Tesco stores and includes three different flavors - southern fried, crispy battered, and salt and vinegar. The introduction of this new product line provides customers with greater variety and choice in the fish fillet strips category.
Meat, Poultry and Seafood Key Market Trends
- Consumers are becoming increasingly aware of the environmental impact of the meat, poultry, and seafood industry. This has led to a growing focus on sustainability and ethical practices in the industry, with several players adopting environmentally friendly practices such as reducing their carbon footprint, minimizing waste, and using renewable energy sources.
- The rise of e-commerce and online sales channels has transformed the way consumers buy meat, poultry, and seafood products. Online sales channels provide consumers with greater convenience, choice, and transparency, and are becoming increasingly popular in the market. Several key players are investing in online sales channels to capitalize on this trend and provide consumers with a seamless shopping experience.
Meat, Poultry and Seafood Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the global meat, poultry, and seafood market is a highly competitive and constantly evolving industry driven by key drivers such as increasing demand for protein-rich food, growing consumer awareness about health and wellness, and changing lifestyles. While the market is dominated by supermarkets and hypermarkets, online sales channels are becoming increasingly popular. The industry faces challenges such as rising concerns about sustainability and animal welfare, volatile prices of raw materials, and increasing competition. However, players in the market are investing in research and development activities, expanding their product portfolios, and strengthening their distribution networks to stay ahead of the competition and cater to the evolving demands of consumers.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1263.91 billion |
| Market size value in 2031 | USD 1309.16 billion |
| Growth Rate | 3.18% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Meat, Poultry and Seafood Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Meat, Poultry and Seafood Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Meat, Poultry and Seafood Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Meat, Poultry and Seafood Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Meat, Poultry and Seafood Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Meat, Poultry and Seafood Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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