Frozen meat market

Frozen meat storage is a standard method of meat preservation and conservation. It reduces after-death enzyme activity, inhibits microbial expansion, and increases market shelf-life of the meat. The frozen meat that has been wrapped in a package and stored at 0°C temperature is safe to eat. Certain foods and meats are seasonal and only available in a specific area, so the adoption of freezer technology allows for food storage throughout the year and supply across the globe.

Global frozen meat market was valued at US$ 23.2 Billion in 2021 in terms of revenue, exhibiting a CAGR of  4.9% during the forecast period (2022 to 2030).

Drivers

Frozen meat offers various advantages such as longer shelf life, food safety, and others, which is expected to drive growth of the frozen meat market over the forecast period. Moreover, frozen meat products help reduce food waste and are easy to cook. The freezing action inhibits growth of potentially harmful bacteria, which are a cause of food poisoning. Due to rapid freezing, the texture, taste, and freshness of food items is maintained. If there is little water present in the meat, it transforms itself into ice crystals, thus locking freshness and nutritional value. These factors are expected to increase demand for frozen meat over the forecast period.

Rising  penetration of e-commerce and online food delivery services driven by fast paced lifestyle, the food joints and restaurants across the world depend on the frozen meat products to cater to the demand for meat dishes. Moreover, growing working population, increasing per capita income in emerging economies, and rising demand for frozen food products are anticipated to accelerate growth of this market over the forecast period.

In terms of revenue, North America is the fastest growing region and accounted for the largest market share of around 34.6% in 2021, owing to increasing demand for protein rich food and advancement of technology in the food industry. Busy lifestyle and changing consumer dietary patterns are also driving the market growth. Moreover, high consumption of meat and increasing disposable income of people are the major factors driving growth of the frozen meat market during the forecast 

Figure 1. Global Frozen Meat Market Value Share (%), By Region, 2021

Market Restraints

High tariffs imposed on imported meat products is projected to hamper the market growth. For instance, according to a report by Observatory of Economic Complexity in 2021, in 2018 the average tariff for meat products was 14.7%, making it the 1160th lowest tariff using the HS6 product classification. The raised tariffs were announced to protect the domestic meat producers across the globe who were facing significant losses due to low-priced meat imports. However, technological advancements in the frozen meat industry are expected to increase demand for frozen meat in the forecast period.

Market Trends

Increasing fast-food joints and restaurants across the globe, rising demand for freezer meat for their daily operations impact a huge market expansion of frozen meat market across the globe. For example, KFC (Kentucky fried Chicken) using freezer chicken to make recipes with the same taste across the globe, using meat across the globe is the same meat for their quality and taste purpose. This following trend increases the market growth in the forecast period.

Figure 2. Global Frozen Meat Market Value Share (%), By Meat Type, 2021

Among meat type, poultry segment held significant market share of 33.4% in the global frozen meat market in 2021. Frozen poultry meat has an extensive shelf life compared to conventional raw meat, which in turn is expected to bolster demand for frozen meat forecast period.

Recent Developments

• On April, 2022, Prasuma announced the expansion of its product portfolio, with the launch of frozen food segment. Prasuma, is an Indian chilled meat and frozen food brand. The brand is set to launch frozen Chicken Nuggets, Frozen Veg and Chicken Spring Rolls, Veg and Chicken Mini Samosas, Mutton and Chicken Shammi Kababs, and Mutton and Chicken Seekh Kababs as well as Bacon to its frozen portfolio. The launch of the new product portfolio will help Prasuma to expand its presence across the Indian terretories.
• On February 2022, Seara foods announced the launch of Seara Shawata frozen marinated whole chicken. Seara foods is a Brazilian food processing company specialized in the development and distribution of meat products. The new product will target the Middle Eastern and latin America market for their launch due to the heavy demand for these region for the poultry products.
• On November 2021, Préval AG, an international agri-food company headquartered in Quebec, has acquired the assets of J&G Foods, located in Sutton, Massachusetts. J&G is a custom and specialty meat provider specializing in portioned organic and grass-fed beef, organic and natural chicken, natural pork and beef, and a variety of marinated and value-added meats. The acquisition will help Préval AG to diversify its business in the frozen meat business to meet the increasing demand for frozen meat across the globe.

Competitive Section

Major players operating in the global frozen meat market include Kerry Group Plc. Associated British Foods Plc., BRF S.A., Verde Farms LLC, JBS S.A., Marfrig Global Foods S.A., Cargill Inc., Tyson Foods, Inc., Pilgrim’s Pride Corporation, V H Group., Arcadian Organic and Natural Meat Co., Verde Farms, and Xiamen Yinxiang Group Co., Ltd.

Detailed Segmentation:

• Global Frozen Meat Market, By Meat Type :
  • Poultry
  • Beef
  • Pork
  • Seafood
  • Lamb
  • Others
• Global Frozen Meat Market, By Distribution Channel:
  • Supermarkets
  • Hypermarkets
  • Online
  • Convenience Stores
  • Others
•  Global Frozen Meat Market, By Region:
• • North America
    • By Meat Type :
      • Poultry
      • Beef
      • Pork
      • Seafood
      • Lamb
      • Others
    • By Distribution Channel :
      • Supermarkets
      • Hypermarkets
      • Online
      • Convenience Stores
      • Others
    • By Country:
      • U.S
      • Canada
  • Latin America
    • By Meat Type :
      • Poultry
      • Beef
      • Pork
      • Seafood
      • Lamb
      • Others
    • By Distribution Channel :
      • Supermarkets
      • Hypermarkets
      • Online
      • Convenience Stores
      • Others
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Meat Type :
      • Poultry
      • Beef
      • Pork
      • Seafood
      • Lamb
      • Others
    • By Distribution Channel :
      • Supermarkets
      • Hypermarkets
      • Online
      • Convenience Stores
      • Others
    • By Country:
      • Germany
      • U.K
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Meat Type :
      • Poultry
      • Beef
      • Pork
      • Seafood
      • Lamb
      • Others
    • By Distribution Channel :
      • Supermarkets
      • Hypermarkets
      • Online
      • Convenience Stores
      • Others
    • By Country:
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East & Africa
    • By Meat Type :
      • Poultry
      • Beef
      • Pork
      • Seafood
      • Lamb
      • Others
    • By Distribution Channel :
      • Supermarkets
      • Hypermarkets
      • Online
      • Convenience Stores
      • Others
    • By Country/Region:
      • Middle East
      • Africa