The global frozen meat market size is anticipated to reach USD 115.76 billion by 2030, expanding at a CAGR of 3.1% over the forecast period. The market is driven by increase in adoption of ready to eat food and change in lifestyle and food preference, where seasonality remains the major factor.
The market is gaining popularity among consumers due to the readily consumable aspect of the product, which saves time for the busy and young professionals. This is expected to provide potential growth opportunities for the global market. Over the past few years, stable economic growth associated with developing mining industry has resulted in increasing number of employment opportunities, thereby improving the consumers’ average income.
Rapid urbanization as a result of growing population and need to cater to the increasing demand for non-vegetarian consumers are some of the factors expected to boost market growth in the coming years. Recent spread of diseases in pork and poultry has resulted in the gradual shift of the consumers towards beef and other meat products.
The frozen beef product segment held the largest market share in 2024. For instance, China imported USD 3 billion worth of frozen beef in 2017, which is 13.8% of the total frozen beef. U.S. was the second largest importer of frozen beef holding a share of 10.3%, followed by Vietnam, Hong Kong, and South Korea. Vietnam, China, and Indonesia are the fastest growing importers of frozen beef while countries like Japan, Russia, and Israel have declined in the purchase of frozen beef imports.
The supermarket and hypermarket segment is anticipated to expand at the fastest CAGR over the forecast period. The online segment held the largest market share in 2018 owing to technological advancements across the world. The online channel is expected to witness increased adoption among consumers over the coming years. Time-pressed younger population, especially in the metros, is expected to be a key consumer set for active players such as Grofers and Big Basket, which have been the front runners in online grocery retailing at large.
Asia Pacific held the largest market share in 2018 and is anticipated to expand at the highest CAGR of 5.2% over the forecast period. The growth is attributed to high import and consumption of meat in this region, along with penetration of e-commerce, increase in the number of food joints, and seasonality. Increasing popularity of healthy products among Chinese consumers is projected to increase demand for frozen meat. Young consumer, especially aged 20 year to 35 year eat healthy meat product once a week. Dumpling is the most consumed product, especially in urban areas. Consumers in the above-mentioned age group also buy frozen meat from online retailers. For instance, 64% of the population in China was in the 16-59 years age group in 2017, which presents growth prospect for the online channel.
Leading players in the market include Kerry Group Plc.; Marfrig Group.; BRF S.A.; Associated British Foods Plc.; Tyson Foods; Pilgrim’s Pride Corporation, Inc.; Verde Farms, LLC; and Arcadian Organic & Natural Meat Co.
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The market is gaining popularity among consumers due to the readily consumable aspect of the product, which saves time for the busy and young professionals. This is expected to provide potential growth opportunities for the global market. Over the past few years, stable economic growth associated with developing mining industry has resulted in increasing number of employment opportunities, thereby improving the consumers’ average income.
Rapid urbanization as a result of growing population and need to cater to the increasing demand for non-vegetarian consumers are some of the factors expected to boost market growth in the coming years. Recent spread of diseases in pork and poultry has resulted in the gradual shift of the consumers towards beef and other meat products.
The frozen beef product segment held the largest market share in 2024. For instance, China imported USD 3 billion worth of frozen beef in 2017, which is 13.8% of the total frozen beef. U.S. was the second largest importer of frozen beef holding a share of 10.3%, followed by Vietnam, Hong Kong, and South Korea. Vietnam, China, and Indonesia are the fastest growing importers of frozen beef while countries like Japan, Russia, and Israel have declined in the purchase of frozen beef imports.
The supermarket and hypermarket segment is anticipated to expand at the fastest CAGR over the forecast period. The online segment held the largest market share in 2018 owing to technological advancements across the world. The online channel is expected to witness increased adoption among consumers over the coming years. Time-pressed younger population, especially in the metros, is expected to be a key consumer set for active players such as Grofers and Big Basket, which have been the front runners in online grocery retailing at large.
Asia Pacific held the largest market share in 2018 and is anticipated to expand at the highest CAGR of 5.2% over the forecast period. The growth is attributed to high import and consumption of meat in this region, along with penetration of e-commerce, increase in the number of food joints, and seasonality. Increasing popularity of healthy products among Chinese consumers is projected to increase demand for frozen meat. Young consumer, especially aged 20 year to 35 year eat healthy meat product once a week. Dumpling is the most consumed product, especially in urban areas. Consumers in the above-mentioned age group also buy frozen meat from online retailers. For instance, 64% of the population in China was in the 16-59 years age group in 2017, which presents growth prospect for the online channel.
Leading players in the market include Kerry Group Plc.; Marfrig Group.; BRF S.A.; Associated British Foods Plc.; Tyson Foods; Pilgrim’s Pride Corporation, Inc.; Verde Farms, LLC; and Arcadian Organic & Natural Meat Co.
Frozen Meat Market Report Highlights
- Frozen beef is expected to expand at the highest CAGR over the forecast period. The segment held the largest market share of 33.0% in 2024 and is expected to maintain its lead in the coming years
- Based on the distribution channel, the supermarket and hypermarket segment is anticipated to expand at the fastest CAGR over the forecast period
- APAC held the largest market share in 2024owing to developing countries like China and Japan. The region is expected to register the highest CAGR of 5.2% over the forecast period
- Various manufacturers are focusing on technological innovation in order to gain maximum market share.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments
- Competitive Landscape: Explore the market presence of key players worldwide
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
The leading players in the Frozen Meat market include:
- Kerry Group plc
- BRF Global
- Associated British Foods plc
- Tyson Foods, Inc.
- Pilgrim’s
- VERDE FARMS
- Hewitt
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Frozen Meat Market Variables, Trends & Scope
Chapter 4. Frozen Meat Market: Product Estimates & Trend Analysis
Chapter 5. Frozen Meat Market: Distribution Channel Estimates & Trend Analysis
Chapter 6. Frozen Meat Market: Regional Estimates & Trend Analysis
Chapter 7. Frozen Meat Market: Competitive Analysis
List of Tables
List of Figures
Companies Mentioned
- Kerry Group plc
- BRF Global
- Associated British Foods plc
- Tyson Foods, Inc.
- Pilgrim’s
- VERDE FARMS
- Hewitt
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 70 |
| Published | October 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 94.5 Billion |
| Forecasted Market Value ( USD | $ 115.76 Billion |
| Compound Annual Growth Rate | 3.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
