Frozen Meat Market Overview:
Frozen meat is mainly drizzled with preservatives that can prevent food preservatives and extend shelf life. Frozen meat is the best way to overcome seasonal problems and has a long shelf life and long shelf life. Also, frozen meat products reduce food waste and are easy to cook. It offers a variety of benefits, including longer shelf life and food security, and is expected to drive growth in the global frozen meat market during the forecast period.
Frozen food includes basic food chemistry, where food is preserved through the freezing process and stored in the freezer before cooking. Frozen foods can be of various types, such as prepared foods, meats and poultry, vegetables and fruits, soups, seafood, and others. Frozen meat improves inventory management, overcomes seasonality issues, and extends shelf life for advanced purchasing and long-term storage.
Frozen Meat Market Size Growth Rate:
According to the DataM market research report, the global frozen meat market reached US$ 799,78 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 164,744 million by 2030. The market is expected to exhibit a CAGR of 4.9% during the forecast period (2023-2030). The market growth is majorly attributed to changing lifestyles, a rise in food preferences, and a surge in fast food. Advancement in technology is also expected to raise the shelf lifespan of frozen product types and improve efforts to provide the best and high-quality food in meat products.
Changing lifestyles and the growing demand for fast foods are key factors increasing the demand in the global market. Expanding the youth population increases disposable income, especially in developing countries. Furthermore, the growing demand for frozen meat product types is expected to bolster the market’s growth in the forecast period. Frozen meat market manufacturers focus on fulfilling the seasonality demand as certain meat product types are available in a specific season.
Frozen Meat Market Drivers:
Frozen meat offers various advantages, such as longer shelf life, food safety, and others, which are anticipated to drive the 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 the growth of potentially harmful bacteria, which cause food poisoning.
Due to rapid freezing, the texture, taste, and freshness of food items are maintained. If there is little water 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.
Frozen Meat Market Restraints:
High costs associated with the acquisition of freezing equipment may pose a significant threat to the growth of the global frozen meat market. Furthermore, frozen foods contain various types of preservatives that will affect the human body, which is another major factor anticipated to restrain the growth of the global frozen meat market during the forecast period.
Frozen Meat Market Opportunities:
Many producers of frozen meat products are entering the market to satisfy the growing demand, and existing players are 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 complex, necessitating a greater need for meat to remain fresh for longer durations and propelling sales of frozen meat.
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COVID-19 Impact Analysis:
The COVID-19 pandemic had a significant impact on the global frozen meat market. The epidemic caused several restaurants to close, which decreased consumer demand for frozen beef products. However, the market for frozen meat products witnessed a surge in demand from retail stores as consumers started stockpiling essential food items due to uncertainties surrounding the pandemic.
Recent Developments in the Industry:
- In February 2022, Seara Foods, a leading Brazilian food processing company specializing in meat products, announced the launch of its latest product, the Seara Shawata frozen marinated whole chicken. The new product is specifically designed to cater to the Middle Eastern and Latin American markets, which have shown a high demand for poultry products.
- In November 2021, Préval AG, a global agri-food company based in Quebec, made a strategic move by acquiring the assets of J&G Foods, a specialty meat provider located in Sutton, Massachusetts. J&G Foods has a reputation for providing custom and specialty meat products, including portioned organic and grass-fed beef, organic and natural chicken, natural pork and beef, and a range of marinated and value-added meats.
- On September 27, 2021, Pilgrim’s Pride, a multinational food company based in Colorado, USA, announced its acquisition of the meat and meal business of United Kingdom-based Kerry Group in a successful deal worth around US$ 932 million, funded through senior notes offering. This acquisition will help Pilgrim’s Pride to enhance its position as a value-added food company.
Frozen Meat Market Segmentation:
As per the research analysis, global frozen meat market is segmented by meat type into pork, chicken, beef, and others; by distribution channel into online retail, supermarkets & hypermarkets, convenience stores, and others; and by end-user into food service and household consumption.
- Based on meat type, the frozen beef segment is the largest market share of more than 30.0% due to the high consumption and import of frozen meat from Asian countries and around the world. The beef sector is the fastest-growing sector during the forecast period, with pork and chicken expected to emerge. The demand for beef is expected to increase due to the higher protein content compared to other types of meat.
Frozen Meat Market Geographical Classification:
The global frozen meat market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.
Asia-Pacific Frozen Meat Market:
The Asia-Pacific region has emerged as the dominant market for frozen meat products worldwide, owing to the increasing demand for frozen meat and poultry products among consumers in the region. To meet consumer demand, manufacturers are launching new products, which has driven the regional market. For instance, Prasuma, an Indian company specializing in chilled meat and frozen food items, announced the addition of a new frozen food sector to its product offering in April 2022.
North America Frozen Meat Market:
The majority of the market share is held by North America, which is anticipated to drive growth over the forecast period. This is primarily attributable to the high disposable income, demanding lifestyle, altering eating patterns, and preference for ready-to-eat (RTE) products in the countries of this region.
The major global frozen meat market players include Tyson Foods, Inc., Al-Hamd Agro Food Products Pvt. Ltd., Tendercut Meats, Northgate Foods, Advancepierre Foods Inc., Foster Farms, JBS, Sanderson Farms, Incorporated, Marfrig, and Meat Masters.
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The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
- Visualize the composition of the global frozen meat market by meat type, distribution channel, end-user, and region, highlighting the key commercial assets and players.
- By Meat Type: Pork, Chicken, Beef, Others
- By Distribution Channel: Online Retail, Supermarkets & Hypermarkets, Convenience Stores, Others
- By End User: Food Service, Household Consumption
- By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
- Identify commercial opportunities in the global frozen meat market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as Porter’s five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
- Excel data sheet with thousands of data points of global frozen meat market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in Excel for the key product of all major market players
- The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.
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