Published Date: May 2024
A meat market is, traditionally, a marketplace where meat is sold, often by a butcher. It is a specialized wet market. The term is sometimes used to refer to a meat retail store or butcher's shop. A butcher specializes in the preparation and sale of meat. Butchers sometimes operate specialized shops selling meat, known as butcher's shops, meat stores, meat markets or butcheries. Meat may also be sold in supermarkets, grocery stores and fish markets, and these shops may employ a butcher. The rise in global meat consumption is one of the primary factors driving the global market growth. The meat demand, and subsequently meat production capacity and supply has increased to meet the demands of the growing population. Awareness about protein intake in the daily diet is another crucial cause for the surge in global per capita meat consumption.
Region Analysis:
In the meat market, the market in North America accounts highest revenue share to the meat market due to growing demand for advanced medical technologies and increasing geriatric population. Asia Pacific meat market is projected to register a high CAGR over the forecast period owing to the growing trend of increasing demand for high-value protein food and growth in the organized retail sector.
Key Development:
- In 2021, the meat giant JSB acquired Spain-based Biotech Foods and building a new plant in Spain in order to scale up production.
Segmentation:
Meat market accounted for US$ 984.88 billion in 2020 and is estimated to be US$ 1382.35 billion by 2030 and is anticipated to register a CAGR of 3.5%. Meat market is segmented based on product and region.
- By product, the Meat Market is segmented into Pork, Poultry, Beef and Others.
- By region North America market is expected to account for major revenue share in Meat Market, followed by other regions.
Competitive Analysis:
The key players operating in the meat market includes BRF, Hormel Foods, JBS, NH Foods, Tyson Foods, WH Group, Cargill, Beef Packing, OSI, and Sysco.
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