The global fresh meat market size was valued at USD 773.88 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.6% from 2021 to 2028. The increasing production and consumption of fresh meat products in developed and developing economies are accelerating the market growth over the last few years. According to a report, global meat consumption has increased by 58% over the last 20 years due to population growth and the rising disposable income of people in developing economies. Moreover, the growing demand for healthy and nutritious food products is projected to fuel the market growth over the forecast period.
Technological development and advancement in the cold chain, shipping, and distribution channel are accelerating the growth of the market. The increasing demand for meat proteins is expected to propel the growth of the market over the forecast period. However, in the developed nations, the changing consumer preference, increasing aging population, and slower population growth will lead to steady growth in per capita meat consumption.
The increasing production of meat in developing economies, like China and India, is a major driving force of the market. The market has been witnessing growth due to factors such as growing urbanization and increasing disposable income of the people, which has led to a rise in the consumption of protein-rich meat food. Moreover, the continuously changing dietary preferences and rising demand for premium-quality meat products from consumers are expected to boost the market growth in the forecast period.
The lockdown announced during the COVID-19 pandemic had disturbed transportation and suspended the supply of meat products for a short duration. The supply chain of meat products is susceptible to being disrupted or stopped by measures arising from COVID-19 restrictions. Fresh meat prices declined in 2020 due to the impact of COVID-19, which has temporarily shortened the meat demand from some leading consuming and importing countries due to the limitations and closures of the market.
The fresh segment held the largest share of more than 85.0% in 2020. This can be credited to the increasing consumption of fresh meat due to its several health benefits, coupled with the urbanization and cold chain development across the globe. Moreover, consumers’ inclination towards eating protein-rich meat is significantly accelerating the demand for fresh meat products.
The frozen segment is anticipated to expand at the fastest growth rate of 6.3% from 2021 to 2028. The continuously changing lifestyles and busy life schedules of consumers are raising the demand for frozen meat products. Additionally, frozen meat is gaining popularity among consumers, which is projected to drive the segment. Furthermore, the increasing demand for meat products and innovative chilling, packaging, and distribution technology are expected to lead to significant market growth over the forecast period.
The offline channel held the largest share of more than 80.0% in 2020. The offline segment includes hypermarkets and supermarkets, convenience stores, specialty stores, and retail stores. Suppliers of fresh meat products use the traditional retail channel for sales. Consumers are preferring offline channels for purchasing goods, groceries, and meat food products, where they can physically verify product quality. Offline channels are expected to remain dominant in the forecast period due to the improved distribution channel networks across the globe.
The online segment is expected to register the fastest CAGR of 4.6% from 2021 to 2028. The internet penetration rate has witnessed lucrative growth in recent years, which has led to the significant growth of the e-commerce sector across the globe, thus accelerating the segment growth. An upsurge in product sales through various company-owned websites and e-commerce platforms is expected to propel the growth of the online distribution channel segment during the forecast period.
The beef segment held the largest share of more than 40.0% in 2020. The increasing disposable income and population growth in emerging markets have augmented the consumption of beef products. Moreover, the growing demand for protein-rich meat is boosting the market growth over the last few years. Additionally, the increasing consumers' interest and dietary preferences associated with culture and religion are projected to fuel the market growth over the forecast period.
The poultry segment is expected to expand at the fastest CAGR of 4.1% from 2021 to 2028 as poultry meat is a sustainable and nutritious source of protein for consumers. Moreover, the increasing demand for poultry products from low-income developing countries owing to their lower price as compared to other meat products is expected to drive the segment.
Asia Pacific held the largest share of over 30.0% in 2020 due to the high consumption of fresh meat products in countries, like China, India, and Japan, owing to the rising demand for protein-rich meat products. China is the leading country in consuming and producing pork and poultry meat due to population growth. Changing eating habits of consumers and increasing disposable income are boosting the demand for healthy and nutritious meat products, which will propel the industry growth in this region over the forecast period.
North America is expected to register the fastest CAGR of 4.1% from 2021 to 2028. The increasing awareness regarding the nutritional benefits of fresh meat and the rising popularity of poultry, beef, and pork due to sustainability are propelling the market growth in this region. In addition to this, the growing demand for premium quality meat products due to freshness, diversity of the products, and convenience for food safety have expected to boost the market growth over the forecast period.
The market is fragmented due to the presence of various established market players and suppliers across the globe, coupled with numerous domestic players. Various manufacturers and suppliers are expected to focus on the development of innovative packaging, logistic development, and strengthening of the distribution channel to grow their business. Such initiatives are expected to boost the adoption rate of the product among consumers around the globe. Some prominent players in the global fresh meat market include: -
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Report Attribute |
Details |
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Market size value in 2021 |
USD 797.33 billion |
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Revenue forecast in 2028 |
USD 1018.13 billion |
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Growth Rate |
CAGR of 3.6% from 2021 to 2028 |
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Base year for estimation |
2020 |
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Historical data |
2017 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD billion and CAGR from 2021 to 2028 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Product, form, distribution channel, and region |
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Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
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Country scope |
U.S.; Germany; U.K.; France; China; India; Japan; Brazil; South Africa |
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Key companies profiled |
Tyson Foods Inc.; WH Group Limited; Itoham Yonekyu Holdings, Inc.; Groupe Bigard SA; Societe LDC SA; The Zur Muhlen Group; JBS SA; Minerva SA; Sofina Foods Inc.; NH Foods Ltd. |
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Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global fresh meat market report on the basis of product, form, distribution channel, and region:
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