Global Red Meat Market Size To Exceed USD 1417.25 Billion By 2033 | CAGR Of 5.45%
Category: Food & BeveragesGlobal Red Meat Market Size To Exceed USD 1417.25 Billion By 2033
According to a research report published by Spherical Insights & Consulting, The Global Red Meat Market is Expected to Grow from USD 833.97 Billion in 2023 to USD 1417.25 Billion By 2033, at a CAGR of 5.45% during the forecast period 2023-2033.
Get more details on this report -
Browse key industry insights spread across 210 pages with 108 Market data tables and figures & charts from the report on the "Global Red Meat Market Size, Share, and COVID-19 Impact Analysis, By Type (Beef, Veal, Mutton, Pork, Lamb, Goat), By Form (Canned, Fresh / Chilled, Frozen, Processed), By Distribution Channel (Supermarkets/Hypermarkets, Convenient Stores, Specialty Stores, Online Retail), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/red-meat-market
The red meat market involves the production, processing, and supply of beef, lamb, pork, and other red meat. The activities involved are livestock farming, where the animals are bred, fed, and raised to produce meat. Moreover, red meat is a great source of complete protein, which is necessary for muscle development, repairing tissues, and normal body function. With an increasing number of people in the world and an increased level of awareness of the need for nutritional balance, red meat remains at the forefront as the preferred option for protein consumption. This demand is further accelerated by the wellness and fitness trends that highlight protein as a critical nutrient for active living. The demand for high-protein diets, for example, the keto and paleo diets, has also seen red meat consumption rise across the world. However, excessive red meat consumption has been associated with health problems, for example, heart disease, cancer, and high cholesterol, thus experiencing lower demand from consumers, especially health-conscious individuals.
The beef segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the type, the red meat market is divided into beef, veal, mutton, pork, lamb, and goat. Among these, the beef segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to beef being rich in vital nutrients such as protein, iron, zinc, and Vitamin B12, thus it is a desirable food for people who desire a nutritious, high-quality protein. Beef appears in a variety of products such as steaks, ground beef, sausages, and processed foods, thus broadening its overall market share.
The frozen segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the form, the red meat market is divided into canned, fresh/chilled, frozen, and processed. Among these, the frozen segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven due to frozen red meat lasts longer than fresh meat, and it is more convenient for storage and with less risk of spoilage. This is highly significant to consumers and retailers. Frozen meat foods are convenient to consumers since they can be stocked for long durations and cooked according to their needs.
The supermarkets/hypermarkets segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the red meat market is divided into supermarkets/hypermarkets, convenience stores, specialty stores, and online retail. Among these, the supermarkets/hypermarkets segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to these stores providing a wide variety of red meat items, both fresh, frozen, packaged, and processed meats, to suit varying consumer needs and prices.
North America is expected to hold the majority share of the global red meat market during the forecast period.
Get more details on this report -
North America is expected to hold the majority share of the global red meat market during the forecast period. The United States and Canada are high consumers of red meat, especially beef and pork. Red meat is very much embedded in the diet, and the U.S. is among the largest producers and exporters of beef and pork. Hypermarkets and supermarkets in North America provide a rich assortment of red meat products, stimulating consumption.
Asia Pacific is anticipated to grow at the fastest pace in the global red meat market during the forecast period. As lifestyles change and people move towards Western diets, more consumers are preferring beef, pork, and lamb as protein sources. This movement toward changing food preferences, especially with the young population, is influencing red meat intake.
Major vendors in the global red meat market are W.H. Group, JBS USA Food Company, Tyson Foods Inc., Kraft Heinz Company, Cargill, Incorporated, ConAgra Foods Inc. SA, and OSI Group LLC. Tönnies Group, SYSCO Corp., Smithfield Foods Inc., The Scottish Goat Meat Company, Irish Country Meats.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In March 2024, Hormel Foods Corporation's brand Black Label introduced ranch bacon. The products are sold at grocery stores across the U.S. The company made this move to address the increasing demand for new and exciting new flavors, especially among the younger generations.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the red meat market based on the below-mentioned segments:
Global Red Meat Market, By Type
- Beef
- Veal
- Mutton
- Pork
- Lamb
- Goat
Global Red Meat Market, By Form
- Canned
- Fresh / Chilled
- Frozen
- Processed
Global Red Meat Market, By Distribution Channel
- Supermarkets/Hypermarkets
- Convenient Stores
- Specialty Stores
- Online Retail
Global Red Meat Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?