Meat - Worldwide

Worldwide

Gross production value in Meat market is projected to amount to US$0.87tn in 2024. An annual growth rate of 5.55% is expected (CAGR 2024-2028), resulting in gross production value of US$1.08tn in 2028.
The import value in Meat market is projected to amount to US$92.9bn in 2024. An annual growth rate of 20.61% is expected (CAGR 2024–2028).
The export value in Meat market is projected to amount to US$80.5bn in 2024. An annual growth rate of 8.88% is expected (CAGR 2024–2028).

Key regions: United Kingdom, United States, Brazil, Germany, Italy

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Analyst Opinion

The Meat market has been a staple in the diets of people worldwide for centuries. It is a diverse market that includes various types of meat, such as beef, pork, chicken, and lamb, to name a few. Over the years, the Meat market has seen significant growth and development due to various factors, including customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customer preferences play a crucial role in the growth and development of the Meat market. In recent years, there has been a growing demand for organic and natural meat products. Consumers are becoming more health-conscious and are looking for meat products that are free from hormones, antibiotics, and other harmful chemicals. Additionally, there has been an increase in demand for plant-based meat alternatives, as more people are adopting a vegetarian or vegan lifestyle.

Trends in the market: The Meat market trends vary from country to country, and there are several factors that influence these trends. For instance, in developed countries, there has been a growing demand for premium meat products, such as grass-fed beef, organic chicken, and heritage pork. In contrast, in developing countries, the demand for meat products is increasing due to rising incomes and changing dietary habits. Additionally, there has been a growing trend towards convenience, with consumers looking for pre-packaged and ready-to-eat meat products.

Local special circumstances: Local special circumstances also play a significant role in the Meat market. For instance, in countries where there are religious restrictions on meat consumption, such as India and some parts of the Middle East, there is a growing demand for plant-based meat alternatives. Similarly, in countries where there are environmental concerns, such as Brazil, there has been a growing demand for sustainable meat products that are produced using environmentally-friendly methods.

Underlying macroeconomic factors: Underlying macroeconomic factors also influence the Meat market. For instance, changes in global trade policies and tariffs can impact the prices of meat products, making them more or less affordable for consumers. Additionally, fluctuations in currency exchange rates can impact the cost of importing and exporting meat products, which can also impact prices. Finally, changes in global economic conditions, such as recessions or economic growth, can impact consumer spending on meat products.

Methodology

Data coverage:

The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.