The global frozen meat market was valued at US$ 22.18 billion in 2018, according to Frozen Meat Market Report, by Meat Type (Poultry, Beef, Pork, Seafood, Lamb, and Others), by Distribution Channel (Supermarket, Hypermarkets, Online, Convenience stores, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa).
The global frozen meat market is projected to reach US$ 33.9 billion by 2027, exhibiting a CAGR of 4.9% during the forecast period. Increasing meat consumption is fueling growth of the frozen meat market. Furthermore, consumer preference towards frozen meat is driving growth of this market. For instance, as per the European Union, in 2016, Europe’s per capita meat consumption increased to 45.4 kg from 41.6 kg in 2015. However, high tariffs imposed on imported meat by some countries is expected to restrain growth of the frozen meat market.
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Browse 40 market data tables* and 35 figures* on "Frozen Meat Market” - Global forecast to 2027.
Key Trends and Analysis of the Frozen Meat Market:
- Among meat type, poultry segment accounted for the largest market share in 2018 in the global frozen meat market. Frozen poultry meat has an extensive shelf life compared to conventional raw meat. According to United States Department of Agriculture Food Safety and Inspection Service, frozen poultry meat is safe to refreeze, once the meat is thawed in the refrigerator. The shelf life is 1 to 2 days for uncooked poultry and 3 to 4 days for cooked poultry.
- Among distribution channel, supermarkets segment was the fastest growing in the frozen meat market in 2018. Increasing urbanization in emerging economies of Asia Pacific and Latin America has led to increased consumption of packaged products. In Brazil, according to Brazilian Association of Supermarkets (ABRAS), in 2017, the national index of sales involved around 130 supermarket companies in the country, representing around 60% of the total sales of products through the supermarket segment, which in turn is expected to drive growth of the segment in frozen meat market.
Key Takeaways of the Market:
- North America accounted for the largest market share of 34.6% in 2018 in the global frozen meat market. Advancement in technologies are expected to boost growth of the frozen meat market in the region during the forecast period. Air-blast freezers are the most commonly used, and continuous freezers & batch freezers are also used for freezing meat.
- Key players in the frozen meat market are focusing on enhancing their product portfolio. For instance, in 2017, Smithfield Foods, Inc., a meat-processing company and wholly owned subsidiary of WH Group of China, added six products to its frozen meat products portfolio with the launch of fully cooked sausages and microwaveable sandwiches. The new range includes chicken and pork products, and targets consumer demand for ‘on-the-go foods’.
- Furthermore, many players are adopting various growth strategies to expand their global footprint. For instance, in November 2018, Cargill, Inc. acquired CAMPOLLO (producer of chicken and protein products in Colombia). This will help Cargill expand its poultry business in Latin America, especially in Colombia, Guatemala, Costa Rica, Honduras, and Nicaragua. Also, increasing awareness regarding food contamination is driving the market growth.
- 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, and V H Group