Analysis of Frozen Meat market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global frozen meat market analysed by Fact.MR estimates that the market enjoyed year-on-year (YoY) growth of 5.5% in 2021 to total 8,284,722 MT.
Fact.MR, a market research and competitive intelligence provider, reveals that frozen meat products hold 32.5% share in the global frozen food market, and are expected to witness a prominent CAGR of 6.5% to reach a valuation of US$ 61.5 Bn by 2031.
|Frozen Meat Market Size in 2021||US$ 32.8 Bn|
|Market Forecasted Value for 2031||US$ 61.5 Bn|
|Global Market Growth Rate (2021 to 2031)||6.5% CAGR|
|Market Share of India in South Asia Region||59%|
Consumers are turning towards ready-to-cook meals to fill the gap between hectic work schedules and nutritional intake of protein, iron, and other nutrients in their day-to-day diets, creating opportunities for frozen meat products used in semi-cooked food products, such as frozen beef, frozen chicken, frozen pork, and so on.
To fulfil this rising demand, growing number of frozen meat product manufacturers are joining the market, with newcomers spreading to new markets. As a result, most countries' food trading in the frozen meat industry is becoming increasingly international. Due to this, supply chains are becoming larger and more complicated, leading to a rise in the need for meat to stay fresh for extended periods, thereby driving frozen meat sales.
Food retailers and supermarkets want products to maintain the desired visual appearance, scent, and other quality features of processed meat products for longer periods of time while on supermarket shelves to keep up sales, which is pushing up frozen meat demand globally.
Frozen food has gained popularity in developing and developed nations as a result of strategic and technological advancements. For example, free frozen freezing technology has a number of advantages that allow manufacturers to recoup the cost of the freezing equipment in less time, as such, promoting the production of frozen meat products.
Most meat processing enterprises are now using this technology as a standard, such as the EU Poultry Group, allowing them to enhance production levels and grow geographically by shipping products to different areas and nations.
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According to Fact.MR, the frozen meat industry in China is expected to expand at a CAGR of 4.2% through 2031. One of the major factors positively influencing frozen meat sales in China is rising demand for convenience foods along with excellent development of the retail sector - rising number of large retail chains, including hypermarkets and supermarkets, which is promoting demand for frozen meat in the country.
The frozen meat industry in India is surging due to significant coverage of distribution channels in the country. The evolution of modern retail outlets such as D-Mart, Food Bazaar, Spencers, and online grocery stores such as Big Basket and Groffer’s in the frozen meat industry in India led to positive growth of 6.9% at present (2021), and is expected to increase the market value to US$ 5.5 Bn by 2031.
The frozen meat sector in Germany is experiencing a rise at a CAGR of 3.8%. This is attributed to the augmented need for longer frozen meat shelf life by both, manufacturers and retailers. It will give more time to transport and sell meat products and also lead to inventory shrinkage due to reduced spoilage, thereby driving frozen meat consumption in the country.
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The global frozen organic meat market is expected to increase to US$ 6.75 Bn at a CAGR of 7.7% through 2031.
The market for organic meat products is expected to grow in response to customers' growing preference for frozen organic products. This can be linked to growing health concerns and increased understanding of the health benefits related to organic meat products.
According to The Organic Trade Association, sales of organic food items in the United States hit US$ 50.1 Bn in 2019, up 4.6% from the previous year. Organic meat has been more popular in recent years, and rising demand for organic foods is expected to fuel demand for frozen organic meat products over the projection period.
The frozen beef market is expected to rise at a CAGR of 6% due to increased quantities of slaughter-ready cattle and rising carcass weights due to high incidence of male slaughter, according to the US Department of Agriculture.
Meanwhile, increased cow supply and improved slaughterhouse margins are likely to boost beef production in Brazil (USDA). Carabeef production in India will resume its recovery in 2021, following a steep reduction in output in 2020 due to severe supply chain interruptions.
Frozen meat suppliers are taking strategic steps towards broadening their distribution networks to reach new markets.
Similarly, recent developments related to companies supplying frozen meat have been tracked by the team at Fact.MR, which are available in the full report.
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|Historical Data Available for||2016-2020|
|Market Analysis||US$ Mn for Value & MT for Volume|
|Key Regions Covered||
|Key Countries Covered||
|Key Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
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Currently, the global frozen meat market is worth around US$ 32.8 Bn.
Frozen meat consumption is expected to increase at a CAGR of around 6.5% over the period of 2021-2031.
In terms of revenue, frozen meat sales increased at a CAGR of around 4.9% during 2016-2020.
Global frozen meat sales are forecasted to surpass US$ 61.5 Bn by the end of 2031.
Kerry Group Plc., Marfrig Group, BRF, Associated British Foods Plc., and Pilgrim's Pride Corporation are the top 5 players driving market growth.
The U.S., Australia, India, and China, are majorly driving demand for frozen meat.
Europe holds around 32.8% of global frozen meat revenue share.
The U.S. market is projected to surge at a CAGR of around 5.5% over the next ten years.
The report presents detailed cost analysis of frozen meat based on product type, i.e., beef, pork, poultry meat, and sheep meat.
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