Frozen Meat Market
Frozen meats help in reducing food waste while providing fresh taste. Frozen meats are easy to cook, and save time. Contrary to processed foods, frozen meats do not contain any harmful preservatives. Key players in market are adopting various business strategies such as mergers and acquisitions to expand their global footprint. For instance, in September 2018, Cargill, Inc. acquired Konspol Holding Sp. zo.o., a food company in Poland that offers a range of meats in the frozen, cold cut, and chilled convenience categories. The acquisition would help Cargill, Inc. to enter the Poland market and expand its global presence in meat market.
Market Dynamics
Among distribution channel, online segment is expected to witness significant growth in market over the forecast period. Increasing internet penetration in emerging economies such as India and China, ease of comparison of prices and reviews of meats, and ease of delivery at home through e-commerce sites are the major factors driving growth of the segment in market. For instance, according to a report by Indian Brand Equity Foundation in May 2021, online retail market is estimated to reach US$ 60 billion by 2020 from US$ 32 billion in 2018. It is projected to reach US$ 73.00 billion by 2022
The Global frozen meat market is highly consolidated with the presence of multinational Food and beverages companies. To meet this rising demand of meat products, several frozen meat products manufacturers are entering market, with new entrants expanding into new markets. As a result, food trading in the frozen meat industry is becoming increasingly international. As a result, supply chains are becoming larger and more complicated, resulting in a greater need for meat to remain fresh for extended periods, driving frozen meat sales.
The beef segment from the meat type is anticipated to emerge as the fastest growing segment over the forecast period, followed by pork and chicken. Demand for beef is expected to increase due to the presence of high protein content as compared to other meat forms. Increased demand for pork is driving market through imports and exports of frozen meat across countries.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
Table of Contents
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