United States Edible Meat Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The United States Edible Meat Market is projected to register a CAGR of 0.72%

Key Highlights

• Largest Segment by Type - Beef: The beef segment is dominated by the fresh/chilled form. However, the prevalence of convenient and healthy eating is driving the demand for processed and grass-fed beef.
• Largest Segment by Form - Fresh/Chilled: The consumers' growing preference for certified fresh foods is driving the demand. Thus, manufacturers offer information on fresh meat to consumers for convenience.
• Fastest-growing Segment by Type - Beef: Ground beef, luncheon meat, sausages, hot dogs, salami, pepperoni, burgers and beef jerky are the most popular processed beef products consumed in the United States.
• Fastest-growing Segment by Form - Processed: The segment is driven by innovations by new entrants, mainly beef products. Large firms invest in robots and AI start-ups to develop new processing technologies.

Key Market Trends

Beef is the largest segment by Type.

• Beef is the country's most consumed red meat and accounted for 26.45 kilograms per capita consumption in 2021, a 4.50% increase since 2016. In 2021, beef also observed the highest market share by value, registering 68.92%, among all the major meat types.
• Among California, Florida, New Jersey, New York, and Texas, Texans spent the most on beef products, amounting to a 26-28% share in 2018-2019. This was supported by higher beef production in the state. The cattle industry offers more than USD 13 billion annually to the Texan economy. Hamburger consumption in Nevada is higher than in most other states, with 267 per capita consumption.
• In 2021, a change in consumption patterns of US shoppers was witnessed, with 28% of shoppers focusing on choosing nutritious and healthy meat. This trend has been evident throughout the COVID-19 pandemic, with sales of grass-fed beef rising much faster and registering a 45% increase, by value, compared to 2020.
• Pork is the second-largest type of red market in the country primarily due to the increased consumption of processed pork, such as luncheon meat sausage, hot dogs, ham, and bacon. Thus, processed pork is projected to record the fastest CAGR, amounting to 1.91%, during the forecast period. The dominance of processed pork indicates that processors play a particularly important role in this sector, and many fresh pork packers are likely to be involved in manufacturing processed pork products.
• Mutton is the least consumed meat type in the country and accounted for a 0.57% share, by volume, in 2021. It is considered high-maintenance meat as it costs more to raise sheep for longer periods. Accordingly, the price of mutton is about 40% more than the price of pork.

Competitive Landscape

The United States Edible Meat Market is moderately consolidated, with the top five companies occupying 44.60%. The major players in this market are BRF S.A, Hormel Foods Corporation, Sysco Corporation, Tyson Foods, Inc. and WH Group Limited (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support