The global meat products market is a dynamic and diverse sector within the food industry, covering a range of items such as beef, poultry, pork, lamb, and processed meats. In recent times, there has been a consistent uptrend in the demand for meat products, spurred by various factors, and there are no indications of this trend slowing down. A primary catalyst for this surge in demand is the continuous growth of the world’s population, particularly in emerging markets. The expanding population, coupled with increasing disposable incomes, has led to a rise in the consumption of meat as a primary source of protein. Urbanization is another influential factor, transforming dietary patterns as more individuals migrate to urban areas, resulting in a preference for processed and convenient meat products to align with busy lifestyles.
The meat products market includes a diverse range of offerings, such as beef, poultry, pork, and seafood. Processed meats—including sausages, deli meats, and canned products—are gaining popularity due to their convenience and longer shelf life. Factors such as urbanization, increasing disposable incomes, and growing meat consumption in emerging economies are fueling market expansion.
- Rising Protein Consumption: Growing preference for protein-rich diets is boosting demand for meat and meat-based products.
- Technological Advancements: Innovations in preservation, packaging, and processing are improving product quality and safety.
- Convenience Foods Trend: The rising demand for ready-to-eat and easy-to-prepare meat products is reshaping the industry.
- Increasing Global Trade: Expanding meat exports and imports are contributing to market growth.
- Health and Sustainability Focus: Consumer interest in leaner meats, organic options, and antibiotic-free products is influencing industry trends.
- Plant-Based and Hybrid Meat Products: The rise of alternative proteins and hybrid meat-plant blends is reshaping the industry.
- Sustainable Meat Production: Companies are investing in eco-friendly initiatives like regenerative agriculture and carbon footprint reduction.
- Premium and Organic Meats: Consumer interest in organic, grass-fed, and ethically sourced meat products continues to grow.
- Smart Packaging Solutions: Advanced packaging, including vacuum sealing and biodegradable materials, is gaining traction.
Europe: The Fastest-Growing Market for Meat Products
The European meat products market is experiencing rapid growth, driven by increasing health consciousness and evolving consumer preferences. With a strong emphasis on sustainability and healthier dietary choices, the demand for meat products in the region continues to rise. This growth is further fueled by a surge in manufacturers entering the market and introducing innovative products.
As consumers become more mindful of their food choices, companies in the European meat industry are actively expanding their market presence. Leading players are focusing on strategic initiatives such as product launches, capacity expansion, and mergers and acquisitions to strengthen their foothold in the region.
For instance, in August 2022, the Netherlands-based Vion Group announced significant investments to expand its operations in eastern Germany, particularly in Thuringia and Brandenburg. The company is committed to promoting regional food retail by offering fresh beef and pork products, including organic options, to meet the increasing demand for locally sourced meat. This initiative not only enhances sustainability by reducing carbon footprints but also improves animal welfare through shorter transport times.
With a growing number of industry leaders focusing on innovation and sustainability, Europe remains a key hub for the evolving meat products market.
Top 10 Companies in the Meat Products Market
- Cargill (US)
- Tyson Foods, Inc. (Arkansans)
- Hormel Foods Corporation (US)
- Maple Leaf Foods (Canada)
- JBS SA (Brazil)
- Marfrig Global Foods S.A. (Brazil)
- Associated British Foods plc (UK)
- Danish Crown Vej (Denmark)
- Minerva Foods SA (Brazil)
- Vion Group (Netherlands)
Recent Developments in the Meat Products Industry:
- In September 2023, Minerva Foods SA (Brazil) completed its acquisition of Breeders and Packers Uruguay SA (BPU Meat), a subsidiary of NH Foods, with a total investment of USD 40 million. With this acquisition, Minerva Foods significantly enhanced its total slaughter capacity, which now reaches 3,700 heads per day, distributed across four refrigeration units, including the newly acquired BPU Meat.
- In August 2023, Minerva Foods SA (Brazil) acquired the majority of Marfrig’s cattle and sheep slaughtering and deboning operations in South America. The deal cost USD 1.45 billion. The transaction is expected to deepen Minerva’s geographical diversification
- In July 2023, Vion Zucht- und Nutzvieh (Netherlands) and the Danish Crown entered into a contract for cattle slaughtering services in Schleswig-Holstein. Commencing from August 1, 2023, Danish Crown will undertake the slaughter of up to 1,000 young bulls, cows, and heifers per week on behalf of Vion Food Group. This helps them to produce a large quantity of meat to meet the demand of consumers.
- In May 2023, the Danish Crown (Denmark) acquired SELO Verpakking and SELO Belgium (Benlux). The acquisition of the majority stake in the SELO companies gives them a perfect platform to grow their business in Benelux.
- In March 2023, Hormel Foods (US), the maker of HORMEL BLACK LABEL Bacon, introduced a unique product called “Hardcourt Smoked HORMEL BLACK LABEL Bacon.” This bacon is smoked using actual northern cherry maple wood that is used to make the basketball courts for the 2023 college basketball tournament.