Global Meat Market Assessment, By Type, By Nature, By Product, By Distribution Channel, By Application/End User, By Region, Opportunities and Forecast, 2016-2030F
Global Meat Market Assessment, By Type [Raw, Processed], By Nature [Organic, Conventional/Inorganic], By Product [Chicken, Beef, Pork, Mutton, Seafood, Others], By Distribution Channel [Online; Offline-Hypermarket/Supermarket, Departmental Store, Localised Meat Shops, Specialty Store], By Application/End User [Domestic; Commercial-HoReCa (Hotel, Restaurant and Café), FMCG, Healthcare, Wellness/Personal Care, Others], By Region, Opportunities and Forecast, 2016-2030F.
New York, July 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Meat Market Assessment, By Type, By Nature, By Product, By Distribution Channel, By Application/End User, By Region, Opportunities and Forecast, 2016-2030F" - https://www.reportlinker.com/p06457835/?utm_source=GNW
The global meat including poultry and seafood market size was valued at USD 1,348.04 billion in 2022 and will be valued at USD 1,682.62 billion in 2030, growing at a subdued CAGR of 2.81% between 2023 and 2030. The market growth is driven by factors such as increased demand for animal-based meat, technological advancements and increased demand for flavoured meat products. The use of cutting-edge meat processing technologies is opening new market prospects. The introduction of label-friendly processed meat products on e-commerce platforms by industry participants is also opening avenues for significant growth in future.
Increased Demand for Animal Based Meat
Over the years, the global demand for animal-based meat has been steadily increasing. This can be attributed to several factors, including rising incomes and changes in dietary preferences. As developing countries urbanize and their food systems become more industrialized, the demand for meat and other animal products will also increase.
Increasing Demand for Flavoured Meat Product
The global meat market is experiencing an increasing demand for flavoured meat products as consumers seek more variety and unique taste experiences. Flavoured meat products are typically prepared using a variety of seasoning blends, marinades and sauces to enhance their taste and appeal to a wider range of consumer preferences. This trend is being driven by a growing interest in global cuisine and the desire for new taste experiences. Additionally, flavoured meat products can command higher prices and offer a point of differentiation for meat producers and retailers.
Technological Advancements
The global meat market is undergoing significant technological advancements, driven by a need to increase production efficiency, improve food safety, and meet changing consumer preferences. Innovations such as precision breeding, gene editing, and advanced feed technologies are helping to produce meat products that are healthier, more sustainable and affordable. Additionally, advances in robotics and automation are transforming the meat processing industry, enabling faster and more efficient production and reducing the need for human labour.
Impact of COVID-19 on Global Meat Market
The COVID-19 pandemic had a significant impact on the global meat market. The meat industry has been affected by disruptions in supply chains and labour shortages. The closure of meat processing plants due to pandemic among workers caused a decrease in meat production, leading to price increases and supply chain disruptions.
Impact of Russia-Ukraine war on Global Meat Market
Ukraine is a significant producer of poultry and disruptions to supply chains have occurred due to the conflict, leading to price increases in some regions. Additionally, Russia’s ban on imports of Western food products in response to sanctions has redirected demand towards other markets, including meat producers in South America and Europe. However, overall global meat production and consumption have not been significantly affected by the conflict and any changes in supply and demand have largely been absorbed by the enhanced supply from other countries in the global market.
Key Players Landscape and Outlook
Due to the existence of numerous local and international organizations, the competitive landscape in the meat market is fragmented. Manufacturers are focussing on increasing their manufacturing capacity through mergers and acquisitions. In this way, it enhances their supply chain and aids in the development of new product. For instance, Tyson Foods acquired Williams Sausage Co., a Tennessee-based sausage and bacon manufacturer in 2023. Beyond Meat has partnered with Allana Consumer Products to deliver its globally popular meat products in the Indian market.
Market Xcel reports are based on qualitative and quantitative data collected through ‘on-ground’ primary research interventions. Based on our in-depth research, our reports can also provide granular city/state level market size data. The report includes deeper actionable insights provided by the industry experts & Key Opinion Leaders thus offering cutting-edge business solutions. The forecast data included in the report is based on ‘Drivers based forecasting’ technique ensuring accurate decoding of the future.
Read the full report: https://www.reportlinker.com/p06457835/?utm_source=GNW
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