The global frozen meat market is projected to reach approximately USD 83.3 billion by 2030, at a CAGR of 4.78% from 2022 to 2030. A standard conservation technique for storing meat is freezing it at a low temperature. This increases the shelf life in the market, prevents microbial growth, and reduces the after-death enzyme action. It is safe to consume frozen meat wrapped in a package, in a freezer, or at a temperature of 0°. Since some foods and meats are seasonal and only available in certain regions, freezer technology enables year-round food storage and global supply. The frozen meat market has grown significantly because of the rise in meat eaters and the popularity of ready-to-eat foods. Furthermore, the freezing process prevents the growth of potentially hazardous microorganisms that cause food poisoning. Due to quick freezing, food items retain their flavor, texture, and freshness. If the meat contains little water, it changes into ice crystals, preserving freshness and nutritional value. Thus, the above factors will boost the healthy frozen meat market over the forecast period.
COVID-19 Impact Analysis
The large sales reduction in the frozen meat market caused by the COVID-19 outbreak and certain speculations of viruses escaping from the Chinese meat industry has significantly impacted the frozen market. Most freezer food processing companies were closed during the lockdown. The cessation of the overseas supply of freezer meat has resulted in a major decline in sales and revenue in the freezer meat business.
The frozen meat market trends involve a growing population, increased per capita income in developing nations, and a rising need for frozen goods. Technological advancements are facilitating the growth of the frozen meat market in Greenville to extend product shelf lives and increase attempts to provide quality products, particularly in the case of meat-related products. In the coming decade, the nuclear family trend in industrialized nations is anticipated to raise demand for frozen meat as more people move from rural to urban areas. Another important element influencing frozen meat sales is the rising number of women working in emerging nations. These drivers are anticipated to grow the global frozen meat market throughout the forecast period.
Growing fast-food outlets and restaurants worldwide, as well as an increase in the need for freezer meat for their daily operations, have a significant positive impact on the global frozen meat market. For instance, KFC (Kentucky Fried Chicken) uses freezer chicken to create recipes with the same taste around the world. They use the same meat for quality and taste purposes worldwide. Therefore, the frozen processed meat market will expand faster throughout the forecast period.
One of the main constraints to this market's growth is the perception among some consumers that frozen meat is a subpar alternative to fresh meat. Food that has been processed a year or more before being consumed is thought to be nutritionally deficient. Food items at various temperatures can lose nutrients, while nutrients like vitamin C and folate can change with temperature changes. Additionally, it has been established that the widespread use of synthetic preservatives has a detrimental effect on the body.
Many manufacturers of frozen meat products are entering the market to satisfy the growing demand, and existing players are expanding into new geographies. Thus, the worldwide food trade is expanding within the frozen meat sector. As a result, supply chains are expanding and getting more intricate, which increases the need for meat that can stay fresh for longer periods and boosts frozen meat sales.
By Product Type
Based on product type, the global frozen meat market is segmented into frozen processed meat and frozen whole-cut. The frozen processed meat category dominated the market share in 2021 due to the convenience of storage and transportation. Besides this, the frozen whole-cut category is anticipated to be the fastest-growing segment due to allegedly having more nutritional value than frozen processed meat.
Based on the end-user, the global frozen meat market is divided into food service and retail customers. The food service category had a prominent share in 2021 due to the increased number of fast-food establishments and restaurants worldwide. However, the retail customer category is anticipated to be the fastest-growing in the coming years.
By Distribution Channel
Based on distribution channels, the global frozen meat market is divided into store-based and non-store-based. The store-based category had a prominent share in 2021. The availability of additional household goods under one roof and product-specific shelves have contributed to the market's expansion. Besides this, the non-store-based category is the fastest growing. The availability of various goods at reduced costs and doorstep delivery possibilities have boosted its rising appeal among customers.
Global Frozen Meat Market Share by Region, 2021 (%)
By region, the global frozen meat market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Asia-Pacific is projected to exhibit the highest CAGR during the review period.
In 2021, the North American frozen meat market had the largest share. This is mostly owing to individuals in this region's countries having a high disposable income paired with a hurried lifestyle, changing eating habits, and a desire for ready-to-eat products. The increased demand for ready-to-eat food items in the United States drives the frozen meat market owing to hectic consumer work schedules and busy lives. Furthermore, increased customer preference for processed meat items such as bacon, hot dogs, canned meat, sausages, and so on is propelling market expansion. The substantial R&D initiatives to formulate safer alternatives devoid of antibiotics and chemical residues will continue to push the United States frozen meat market in the coming years.
Asia-Pacific's frozen meat market is anticipated to encounter the fastest growth rate because of the high usage in this region. China, South Korea, and Japan were the top importers of frozen meat products. Increased food joints and restaurants, increased e-commerce, and seasonality in this region are likely to drive regional market growth. Over the forecast period, increased spending on meat products, particularly frozen meat, is predicted to enhance demand for frozen meat. The rising popularity of healthy food among Korean consumers is expected to boost demand for frozen meat. Young consumers, especially those aged 20 to 35, consume healthy meat products weekly. As a result, the Korean frozen meat market is booming.
The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have global reach with diverse product portfolios. Due to product differentiation, strategic developments, financial stability, and diversified regional presence, companies such as Arcadian Organic & Natural Meat Co, Kerry Group Plc, Green Farms LLC, and Marfrig Group dominate the global frozen meat market. The players are concentrating on supporting research and development. They embrace strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base. For instance, in April 2022, Seara Foods announced the introduction of frozen, seasoned whole chickens. Seara Foods is a Brazilian food processing business that focuses on creating and marketing meat products. With the high demand for poultry in these regions, the new product will initially target the Middle Eastern and Latin American markets. Similarly, in November 2021, the assets of J&G Foods, a Massachusetts-based company with headquarters in Sutton, was purchased by Préval AG, a global agri-food corporation with its head office in Quebec. J&G provides custom and specialty meats focusing on portioned organic and grass-fed beef, organic and natural chicken, natural pig and beef, and various marinated and value-added meats.
Prominent players in the global frozen meat market include Arcadian Organic & Natural Meat Co, Kerry Group Plc, Green Farms LLC, Marfrig Group, Pilgrim's Pride Corporation Inc, BRF S.A, Tyson Foods, and Associated British Foods Plc.
Scope of the Report
Global Frozen Meat Market, by Product Type
Global Frozen Meat Market, by End User
Global Frozen Meat Market, by Distribution Channel
Global Frozen Meat Market, by Region
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Market Size and Forecast:
To identify and estimate the market size for the global frozen meat market segmented by product type, end users, and distribution channel by value (in U.S. dollars). Also, to understand the consumption/demand created by consumers of frozen meat between 2022 and 2030
Market Landscape and Trends:
To identify and infer the drivers, restraints, opportunities, and challenges for the global frozen meat market
Market Influencing Factors:
To find out the factors which are affecting the sales of frozen meat among consumers
Impact of COVID-19:
To identify and understand the various factors involved in the global frozen meat market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|Market Size||USD 83.3 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, End Users, and Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and the Rest of the World (RoW)|
|Key Vendors||Arcadian Organic & Natural Meat Co, Kerry Group Plc, Green Farms LLC, Marfrig Group, Pilgrim's Pride Corporation Inc, BRF S.A, Tyson Foods, and Associated British Foods Plc.|
|Key Market Opportunities||Rising consumer awareness for organic frozen processed meat products|
|Key Market Drivers||Increased demand for processed frozen meat|
The study period of the global frozen meat market is 2022 - 2030
The global frozen meat market is growing at a CAGR of 4.78% over the next 8 years.
Arcadian Organic & Natural Meat Co, Kerry Group Plc, Green Farms LLC, and Marfrig Group are the major companies operating in the global frozen meat market.
North America held the largest share in 2021
Asia-Pacific is expected to register the highest CAGR during 2022 - 2030