Covina, Sept. 12, 2023 (GLOBE NEWSWIRE) -- What is the meat market?
Meat is a type of food derived from the flesh of animals, primarily mammals and birds. It is a valuable source of protein, essential nutrients, and energy in many human diets. Meat is an excellent source of essential nutrients, including high-quality protein, vitamins (such as B vitamins like B12, niacin, and riboflavin), minerals (like iron and zinc), and healthy fats. These nutrients are crucial for maintaining good health and well-being.
The world's population is expected to continue growing, especially in emerging economies. As a result, the demand for Meat Market, which is a source of protein and essential nutrients, is likely to increase. There is a trend towards increased meat consumption in many parts of the world, particularly as middle-class populations grow. As incomes rise, people often incorporate more meat into their diets, which can boost demand.
Key Highlights –
- In October 2021, Licious, India’s largest D2C Unicorn, announced their foray into the alternative protein sector with the launch of UnCrave - India’s first D2C plant-based meat brand. The company's portfolio diversification strategy, which makes use of its strong core brand equity, is consistent with this launch. Within the first year of its launch, Licious hopes to become the market leader and establish significance with the bigger group of meat-eating customers who trust the brand.
Analyst View –
The development of plant-based and lab-grown meat alternatives has gained significant traction. These products aim to provide the taste and texture of traditional meat while addressing concerns about animal welfare and environmental sustainability. Advances in meat processing, preservation, and packaging technologies can enhance the shelf life and safety of meat products, reduce waste, and improve distribution efficiency.
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Report Scope:
| Attribute | Details |
| Base year for estimation | 2020 |
| Forecast period | 2020 – 2030 |
| Market representation | Revenue in USD Billion & CAGR from 2020 – 2030 |
| Market Segmentation | By Product- Pork, Poultry, Beef and Others |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Key Developments:
- Rise of Plant-Based Meat: The emergence of plant-based meat alternatives from companies like Beyond Meat and Impossible Foods has disrupted the traditional meat market. These products cater to consumers looking for meat substitutes that align with their environmental and health concerns.
- Cultured Meat Advancements: The development of cultured or lab-grown meat has gained momentum, with startups making strides in producing animal protein without the need for traditional livestock farming. Regulatory approval and scalability are key challenges yet to be fully addressed.
- Supply Chain Disruptions: The COVID-19 pandemic exposed vulnerabilities in meat supply chains, with disruptions in processing facilities and labor shortages. This prompted industry players to rethink supply chain resilience and explore more localized production.
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Competitive Analysis:
The key players operating in the global meat market includes,
- BRF
- Hormel Foods
- JBS
- NH Foods
- Tyson Foods
- WH Group
- Cargill
- Beef Packing
- OSI
- Sysco.
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Questions answered in this report:
- What are the key market trends and market dynamics?
- Who are the major players in the market and what is their market share?
- What are the major drivers and restraints affecting the market?
- What are the growth opportunities in the market?
- What are the regional and local market conditions and consumer behavior?
- What is the market size and growth forecast for different regions and countries?
- What is the impact of government regulations and policies on the market?
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