Frozen Meat Market to See Huge Growth by 2028 : Tyson Foods, Cargill, JBS
Published Via 11Press : According to HTF MI, “Global Frozen Meat Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2029″. The Global Frozen Meat Market is anticipated to grow at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2028, reaching USD 22.6 Billion in 2023 and USD 29.5 Billion by 2028.
In order to preserve meat products and preserve their nutritional content, freezing them at extremely low temperatures, usually below -18°C, is referred to as frozen meat. Usually obtained from a variety of animals, including cattle, hog, chicken, lamb, and fish, frozen meat is frequently offered for sale in the form of cuts, minced meat, and sausages.
It is commonly used both in families for creating meals at home and in the culinary industry for making a variety of foods, including burgers, pizza, and ready-to-eat meals. There are many different packaging options for frozen meat, including bulk packaging for commercial use and consumer packaging for retail sales.
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Major Developments Activities in the Market:
On January 18, 2022, Parkland, a well-known distributor of fuel and petroleum goods, revealed that it had acquired the Canadian frozen food shop M&M Food Market. The acquisition adds more than 300 retail sites throughout Canada to Parkland’s network and was consistent with the company’s objective to diversify its convenience store products, including frozen food. It was anticipated that the transaction will broaden Parkland’s product offering and speed up its growth in the convenience store industry.
WTH Foods, based in the Philippines, debuted a line of frozen plant-based meats on January 5, 2023. The new line of products includes sausages made of soy, wheat, and peas, beef-style patties, and plant-based chicken nuggets.
The business seeks to offer readily available, reasonably priced plant-based meat alternatives that are both nutritionally sound and environmentally friendly. The products were made available in a few Philippine stores, and it was anticipated that they would eventually become available elsewhere.
The introduction of the new line of products was in keeping with the global trend towards plant-based and alternative meat products. The plant-based meat company THIS debuted a line of frozen goods on June 30, 2022, in the UK, comprising two vegan burgers, vegan bacon, and vegan chicken salt.
The range was first only offered at Sainsbury’s, but later that year it was made available at additional stores. Following a growing demand in the market for frozen meat alternatives, THIS was able to expand its product options beyond its current refrigerated plant-based meat products with the introduction of the frozen line.
On April 5, 2022, the meat processing company Prasuma announced the addition of a number of new products to its frozen food line. A variety of frozen chicken treats, frozen raw meat, and frozen processed meat products were among the new offerings. The business aspired to meet the rising need for readily available, frozen food items that were also of high quality and hygienic standards. The new product line was scheduled to debut in a few Indian markets and was anticipated to make a major contribution to the company’s overall frozen food segment sales.
Key and developing players who have been highlighted as part of the coverage
- Tyson Foods Inc. (United States),
- Cargill Inc. (United States),
- JBS SA (Brazil),
- Hormel Foods Corp. (United States),
- BRF SA (Brazil),
- Smithfield Foods Inc. (United States),
- ConAgra Foods Inc. (United States),
- Nestle SA (Switzerland),
- Kerry Group Plc (Ireland),
- Marfrig Global Foods SA (Brazil),
- Sanderson Farms Inc. (United States),
- AdvancePierre Foods Holdings Inc.,
- Maple Leaf Foods Inc. (Canada),
- Pilgrim’s Pride Corp. (United States),
- Perdue Farms Inc. (United States).
Market Drivers
- The desire for convenience foods, particularly in urban areas, as well as the growing acceptance of frozen food items by consumers, are two factors driving the worldwide frozen meat market.
- Additionally, demand for frozen meat products is being driven up by the rising trend towards diets high in protein, particularly in emerging nations. The expansion of the fast food business, the rise in supermarkets and retail chains, and the growing acceptance of e-commerce platforms for grocery shopping are other major market drivers.
- The expansion of the global frozen meat market is also being fueled by developments in cold chain technologies, which have improved the effectiveness and security of frozen meat transportation and storage.
Market Trend
- In recent years, there have been a number of trends and improvements in the worldwide frozen meat business. One prominent trend is the rise in convenience food consumption brought on by busy lifestyles, which has fueled the development of the frozen food sector. Increasing demand for high-quality protein sources, such as beef, is another trend, driven by health-conscious customers.
- Frozen meat can now be kept fresh and of high-quality thanks to developments in packaging technologies including vacuum packaging and modified environment packaging. Additionally, automation and robotics have increased productivity, decreased labor costs, and improved food safety in the processing and packaging of beef.
- Additionally, the rise in popularity of online grocery shopping and e-commerce platforms has made it simple to obtain a variety of frozen meat items, which is propelling market expansion.
Market Challenges
- Numerous issues are preventing the worldwide frozen meat sector from expanding. The growing customer concern over the safety and quality of frozen meat products is one of the major difficulties.
- Additionally, as the environmental effects of meat-eating become more widely known, some customers are switching to plant-based substitutes. The market for frozen meat products is also declining as fresh and minimally processed foods become more popular.
- Other elements influencing market expansion include rising local and regional rivalry, fluctuating raw material costs, and the high cost of frozen beef products’ storage and delivery.
Regulatory Insights:
- For frozen meat, there are a number of ISO (International Organisation for Standardisation) standards. The criteria for the handling, packing, storage, and transportation of frozen beef products are outlined in ISO 22958:2018. It offers criteria for maintaining product safety and quality and covers all stages of frozen meat products, from raw ingredients to completed goods.
- This standard aids in ensuring that frozen meat products are manufactured in a secure and sanitary way and adhere to international legal criteria. Furthermore, ISO 15161:2001 offers instructions for the calibration of temperature control and monitoring equipment used in the transportation and storage of frozen food products, including frozen beef. Consumers’ safety and satisfaction with frozen meat products is supported by these ISO standards.
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Market Breakdown by Applications:
- Frozen Beef,
- Frozen Chicken,
- Frozen Lamb,
- Frozen Pork,
- Others
Market Breakdown by Types:
- Households,
- Food Industry,
- Commercial
- Africa: This region still gaining traction. South Africa would play a major role followed by Nigeria.
Report Scope
| The Market size value in 2023 | USD 22.6 Billion |
| Revenue Forecast by 2033 | USD 29.5 Billion |
| Growth Rate | CAGR Of 4.2% |
| Regions Covered | North America, Europe, the Middle East and Africa, Latin America, and the rest of the world |
| Historical Years | 2018-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
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