Table of Contents
Overview
New York, NY – June 09, 2025 – The Global Meat Products Market is poised for significant growth. The market, valued at USD 48.9 billion in 2024, is projected to reach USD 107.5 billion by 2034, driven by a robust CAGR of 8.2% from 2025 to 2034.
In 2024, Poultry dominated the meat products market, accounting for over 43.1% of the market share by source. This leadership position stems from rising consumer demand for leaner protein options, cost-effectiveness, and widespread availability. Processed meat products led the market in 2024, securing more than 64.7% of the total market share by product type.
The surge in demand is driven by the convenience of ready-to-eat and easy-to-prepare options, aligning with fast-paced lifestyles. Hypermarkets and Supermarkets emerged as the leading distribution channels in 2024, capturing 46.3% of the meat products market share. These retail formats are favored for their extensive product selections, competitive pricing, and one-stop shopping convenience.
Key Takeaways
- Meat Products Market size is expected to be worth around USD 107.5 billion by 2034, from USD 48.9 billion in 2024, growing at a CAGR of 8.2%.
- Poultry held a dominant market position, capturing more than a 43.1% share.
- Processed meat products held a dominant market position, capturing more than a 64.7% share.
- Hypermarket and supermarket channels held a dominant market position, capturing more than a 46.3% share.
- North America stands as the dominant region in the global meat products market, commanding a substantial 47.8% share, valued at approximately USD 23.3 billion
How Growth is Impacting the Economy
- The Meat Products Market’s growth significantly impacts the global economy. Increased livestock farming and advanced processing technologies boost the agricultural and industrial sectors. Export markets, such as China and Mexico, drive economic activity, contribute to inflation, prompting export bans in countries like Argentina.
- The shift toward organic and sustainable meat products fosters investments in eco-friendly practices, aligning with consumer demand for healthier options and stimulating economic innovation. Conversely, competition from plant-based alternatives challenges traditional producers, necessitating strategic adaptations to maintain economic contributions.
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Strategies for Businesses
- Businesses in the meat products market should focus on innovation, sustainability, and diversification. Investing in advanced processing technologies, like high-pressure processing, extends shelf life and enhances safety, meeting consumer demands for quality. Offering organic and uncured meat products caters to health-conscious consumers.
- Expanding e-commerce channels and forming strategic partnerships, as seen with Cargill’s acquisition of Infinity Meat Solutions, boost market reach. Emphasizing transparent supply chains and sustainable practices, such as regenerative farming, builds consumer trust. Additionally, targeting emerging markets like Asia Pacific, with tailored products like halal-certified meats, ensures competitiveness amid growing plant-based trends.
Report Scope
| Market Value (2024) | USD 48.9 Billion |
| Forecast Revenue (2034) | USD 107.5 Billion |
| CAGR (2025-2034) | 8.2% |
| Segments Covered | By Source (Poultry, Beef, Pork, Mutton, Sheep, Goats, Others), By Product Type (Processed Meat Products, Cultured Meat Products, Plant-based Meat, Chilled, Frozen, Canned/Preserved, Others), By Distribution Channel (Hypermarket and Supermarket, Convenience Stores, Specialty Stores, Online Retail, Others) |
| Competitive Landscape | Associated British Foods plc, Boar’s Head Provisions Co, Inc., Cargill, Conagra Foods, Inc., Danish Crown Vej, Hormel Foods Corporation, JBS SA, Koch Foods, LLC., Maple Leaf Foods, Marfrig Global Foods S.A., Minerva Foods SA, OSI Group, LLC, Perdue Farms, Inc., Sigma Alimentos, S.A. de C.V., Smithfield Foods, Inc. |
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Key Market Segments
By Source
- In 2024, Poultry dominated the meat products market, accounting for over 43.1% of the market share by source. This leadership position stems from rising consumer demand for leaner protein options, cost-effectiveness, and widespread availability. Poultry’s adaptability across diverse cuisines and its shorter production cycle compared to other meats have further fueled its popularity. As health-conscious consumers increasingly prioritize nutritious and convenient protein sources, poultry is projected to sustain steady growth, bolstered by expanded production capacities and shifting dietary preferences toward white meat.
Product Type
- Processed meat products led the market in 2024, securing more than 64.7% of the total market share by product type. The surge in demand is driven by the convenience of ready-to-eat and easy-to-prepare options, aligning with fast-paced lifestyles. Processed meats appeal to consumers due to their extended shelf life, diverse flavor profiles, and ease of use. With urbanization and busy schedules continuing to shape consumption patterns, the processed meat segment is expected to maintain strong demand, supported by innovations in packaging and food preservation that enhance safety and quality.
Distribution Channel
- Hypermarkets and Supermarkets emerged as the leading distribution channels in 2024, capturing 46.3% of the meat products market share. These retail formats are favored for their extensive product selections, competitive pricing, and one-stop shopping convenience. Consumers appreciate the accessibility of both fresh and processed meat varieties, along with promotional incentives. As these retailers enhance supply chain efficiency and expand their footprint, their dominance is anticipated to grow further in 2025, reinforcing their role as key distribution hubs for meat products.
Regional Analysis
- North America leads the global meat products market, holding a commanding 47.8% share, valued at approximately USD 23.3 billion. The United States drives this dominance, contributing roughly 65% of the region’s butchery and meat processing market, fueled by high per capita meat consumption and a well-developed processing infrastructure. In 2024, the beef segment led the North American processed meat industry with a 36.3% revenue share.
- Beef’s popularity stems from its status as a high-quality protein source, rich in essential nutrients like iron, zinc, and B vitamins, appealing to health-conscious consumers. The rise of high-protein diets and fitness trends has further increased beef demand. The poultry segment is projected to experience the highest compound annual growth rate over the forecast period. This growth is driven by rising consumer preference for protein-rich diets, advancements in poultry farming, and the increasing demand for convenient, ready-to-cook poultry products.
- Expanded distribution channels and growing awareness of poultry’s health benefits also support this segment’s strong growth. Government initiatives and technological advancements further bolster the region’s processed meat industry. The U.S. Department of Agriculture’s investments in expanding meat and poultry processing capacity are fostering the entry of new players and supporting smaller processing facilities.
Recent Developments
1. Associated British Foods plc
- Associated British Foods’ meat division has focused on sustainability, reducing carbon emissions in its supply chain. They recently partnered with UK farmers to promote regenerative agriculture for meat production. ABF also invested in plant-based alternatives to complement traditional meat offerings. Their brands, like Silver Spoon and Twinings, are diversifying into protein-rich products.
2. Boar’s Head Provisions Co., Inc.
- Boar’s Head has expanded its premium deli meat line with new antibiotic-free and organic options. They introduced a “No Sugar Added” turkey product to cater to health-conscious consumers. The company also emphasized clean-label transparency, listing all ingredients clearly. Boar’s Head continues to dominate the high-end deli market with innovative flavors and sustainable packaging.
3. Cargill
- Cargill invested in lab-grown meat through its partnership with cultured protein startups. They launched a new line of plant-based patties under their “PlantEver” brand in Asia. Additionally, Cargill is working on blockchain traceability for beef supply chains to ensure ethical sourcing. Their focus remains on alternative proteins and reducing environmental impact.
4. Conagra Foods, Inc.
- Conagra expanded its meat snacks portfolio under the Duke’s and Healthy Choice brands, introducing high-protein, low-sodium options. They also launched plant-based meat alternatives to compete with Beyond Meat and Impossible Foods. Conagra is leveraging AI for demand forecasting in meat production to reduce waste.
5. Danish Crown Vej
- Danish Crown is committed to carbon-neutral pork production, investing in biogas and renewable energy. They launched a new “Climate-Controlled Pork” line with reduced environmental impact. The company also expanded into China, securing major export deals for premium pork cuts.
Conclusion
The Meat Products Market is growing steadily, driven by rising global demand for protein-rich foods, busy lifestyles, and the popularity of convenient, ready-to-eat options. Consumers are increasingly seeking high-quality, sustainable, and organic meat products, pushing companies to innovate with cleaner labels and eco-friendly practices. However, challenges like health concerns, the rise of plant-based alternatives, and stricter regulations are shaping the industry’s future. To stay competitive, businesses must focus on offering healthier, ethically sourced products and leverage digital platforms to reach modern consumers.
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