Global Turkey Meat Products Market Overview
Turkey Meat Products Market size was valued at USD 19.62 Billion in 2023. The meat products industry is projected to grow from USD 22.91 Billion in 2024 to USD 67.96 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.55% during the forecast period (2024 - 2032). The rising demand for flavored and nutritious food products such as sausages, the growing demand for a protein-based diet, and an increasing number of meat eaters are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Meat Products Market Trends
Consumer inclination toward flavored meat products is driving market growth.
Market CAGR for meat products is being driven by the rising consumer demand for flavored and nutritious meat products has driven the meat products market revenue. Various herbs, marinades, seasonings, and spices are applied to the packaged meat products, giving them an umami taste and flavored texture. The meat flavors trend is expanding and further incorporating meat processing methods such as glazing and braising owing to the consumers evolving taste preferences. Consumers prefer taste rather than the time commitment of such intricate meat preparations, contributing to the growing popularity of packaged meat products. A few examples of this meat product are salami, ham, sausages, bacon, and others. Adopting cross-country food culture and various techniques to process and preserve meat contributes to market growth.
Additionally, many consumers know that conventionally reared poultry and cattle are for producing meat. There is a rise in awareness among them about eating healthy, safe, and free from antibiotics and chemical residue foods, which has nudged them to shift towards organic meat products. This factor propels the demand for adopting organic animal husbandry. The manufacturers are managing the growing trend and producing meat products obtained from certified organic farms. The usage of organic meat helps in retaining the authenticity of food products. In recent years, synthetic curing agents such as nitrites and nitrates have harmful effects on the body and may increase cancer risk. These synthetic preservatives are now replaced by celery powder for preserving the meat.
The surge in demand for animal protein drives the market growth over the forecast period. Protein is a source of amino acids, and adequate protein intake is critical for maintaining the health and development of muscles. Animal proteins are whole proteins as they contain all the necessary amino acids needed in a complete meal. Animal protein is linked with nutritional benefits and helps in reducing the chance of type 2 diabetes, lowering the risk of heart attack and maintaining body weight. Awareness regarding the nutritional benefits of animal proteins is increasing among the Turkey population and especially health-conscious consumers, therefore increasing the consumption of animal protein.
The higher availability of animal protein in the market due to increased livestock farming complemented by manufacturers' cost-effective pricing encourages them to opt for animal protein products. The surge in animal protein needs is boosting meat product manufacturers, as they are capitalizing on the opportunity by creating specialized meat products with added nutrients to meet market demand. Increased consumer purchasing power and adopting busy lifestyles drive the growth of the meat products industry. Furthermore, because people nowadays only have a little time to prepare food, they have started to adopt ready-to-eat or cooked food products that take very little time to make and deliver high-quality, tasty food. These types of things are propelling the market forward.
Meat Products Market Segment Insights
Meat Products Product Type Insights
The Turkey meat products market segmentation, based on product type, includes whole, cut, ground, sausage, and others. The sausage segment dominated the market, accounting for 35% of market revenue (6.87 Billion). In developing economies, category growth is driven by growing consumer preference for sustainable and ethical meat alternatives. However, the ground is the fastest-growing category owing to the increased consumption of fast food across the globe owing to changing lifestyles and rising disposable income of consumers.
Meat Products Category Insights
The Turkey meat products market segmentation, based on category, includes fresh, frozen, and others. The frozen category generated the most income (70.4%) due to the comfort of storage and transportation. Frozen meat offers an advantage over fresh meat, such as longer shelf life and lesser chances of microbial contamination. Various food chains widely utilize frozen meat for their food preparations due to their easy availability and convenience of cooking. However, others are the fastest-growing category due to the production of canned meat being cost-effective and, hence affordable and convenient. Whereas the chilled meat is stored at minimum temperatures without freezing the muscle tissues of the meat.
Meat Products Distribution Channel Insights
The Turkey meat products market segmentation, based on distribution channel, includes store-based {hypermarket & supermarket, specialty store, and others} and non-store-based. The store-based category generated the most income due to the wide range of product availability. These mass merchandisers offer enhanced convenience, different varieties of processed foods, bundling offers, schemes, and convenient shopping experiences to consumers. However, non-store-based is the fastest-growing category due to an increasing trend among customers regarding online shopping portals and mobile apps owing to simplicity and convenience. Products are available at economic rates through online channels. End-users choose and consider the brands, those who manufacture and check the quality of products.
Figure 1: Turkey Meat Products Market, by Distribution Channel, 2022 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Meat Products Country Insights
The market is propelling owing to the large consumer base for processed food products and beverages. Turkey is a developed economy with a large population and equally large working professionals. The increasing demand for convenience food and high-protein animal meat products has driven the market. The strong distribution channel network offers consumers easy availability of processed meat. The manufacturers focus on technological innovations and increasing their production capacities to serve a larger consumer base. Consumption of beef, veal, hot dog, and steak has contributed to the turkey market growth.
Moreover, high customer awareness regarding the benefits of such eatables. The FDA has imposed Various regulations which minimize the utilization of dangerous chemicals such as trans fats. Frozen Food requires minimum cooking as these products are prewashed, precut, and then frozen, making them portable and extending their shelf life. Increasing urbanization, growing research and development activities, the presence of international players, and technological advancements are major factors attributed to the growth of this region. The high disposable incomes and rising environmental concerns further drive market growth. Rising technological advancements in agriculture and growing demand for fast food have increased the need to produce meat products. Increasing awareness regarding animal welfare, improving lifestyles, and health concerns boost the market growth.
Meat Products Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Meat Products market grow even more. Market participants are also undertaking multiple strategic activities to enhance their footprint, with important market developments including recent product launches, mergers and acquisitions, contractual agreements, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the meat products industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Turkey meat products industry to benefit clients and increase the market sector. Major players in the meat products market, including Cargill Incorporated (US), Kraft Foods (US), Bernard Matthews (UK), Hormel Foods, LLC (US), Shady Brook Farm (US), and others, are attempting to increase market demand by investing in research and development operations.
Eviosys is a global supplier of metal packaging, producing food cans and ends, aerosol cans, metal closures and promotional packaging to preserve the products of hundreds of consumer brands. The company enhances business and brand reputations by promoting, protecting and preserving its customers' products. Their commitment to sustainability and recyclable packaging assist in protecting the environment, making a circular economy that helps people and the wider community. At Eviosys, the company strongly believes in the power of diversity and inclusion. In March 2023, Eviosys launched Türkiye, a rectangular can manufacturing line for luncheon meat packaging, in response to customer demand indicating an expanding meat market. Eviosys brings its leading expertise in irregular can shapes and canned meat packaging to Türkiye.
Dakota Provisions is a private company. The firm currently specializes in the Food & Beverages area. Its headquarters is located in Huron, South Dakota, USA. The number of employees ranges from 1 to 25. In September 2019, Dakota 44 offered a variety of creatively crafted fresh turkey products, delivering a wide range of on-trend flavor profiles that come in several easy-meal and snacking forms. These new products extend to all parts of the day and are driven by three core consumer demands bolder flavors, greater ease, and more transparency.
Key Companies in the Meat Products market include
- Cargill, Incorporated (US)
- Kraft Foods (US)
- Bernard Matthews (UK)
- Hormel Foods, LLC (US)
- Shady Brook Farm (US)
- Copas Traditional Turkeys (UK)
- Conagra Brands, Inc. (US)
- Hannaford Bros. Co., LLC (US)
- Gardein (Canada)
- Land O' Frost (US)
Meat Products Industry Developments
For Instance, August 2021 Jennie-O Turkey, a brand of Hormel Corporation, launched turkey barbacoa, a new product line in the turkey section. This move taken by the brand is to extend the product portfolio and offer new products to existing consumers.
Meat Products Market Segmentation
Turkey Meat Products Product Type Outlook
- Whole
- Cut
- Ground
- Sausage
- Others
Turkey Meat Products Category Outlook
Turkey Meat Products Distribution Channel Outlook
- Store-Based
- Hypermarket & Supermarket
- Specialty Store
- Others
- Non-Store-Based
Meat Products Report Scope
Report Attribute/Metric |
Details |
Market Size 2023 |
USD 19.62 Billion |
Market Size 2024 |
USD 22.91 Billion |
Market Size 2032 |
USD 67.96 Billion |
Compound Annual Growth Rate (CAGR) |
14.55% (2024-2032) |
Base Year |
2023 |
Market Forecast Period |
2024-2032 |
Historical Data |
2018- 2021 |
Market Forecast Units |
Value (USD Billion) |
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
Product Type, Category, Distribution Channel |
Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
Key Companies Profiled |
Cargill Incorporated (US), Kraft Foods (US), Bernard Matthews (UK), Hormel Foods, LLC (US), Shady Brook Farm (US), Copas Traditional Turkeys (UK), Conagra Brands, Inc. (US), Hannaford Bros. Co., LLC (US), Gardein (Canada), and Land O' Frost (US) |
Key Market Opportunities |
Increased demand arising from population growth |
Key Market Dynamics |
Growing demand for protein due to socioeconomic changesIncreasing need for technological developments to cater to the global protein demand |
Turkey Meat Products Market Highlights:
Frequently Asked Questions (FAQ) :
The Turkey meat products market size was valued at USD 19.62 Billion in 2023.
The meat products market is projected to grow at a CAGR of 14.55% during the forecast period, 2024-2032.
The key players in the market are Cargill Incorporated (US), Kraft Foods (US), Bernard Matthews (UK), Hormel Foods, LLC (US), Shady Brook Farm (US), Copas Traditional Turkeys (UK), Conagra Brands, Inc. (US), Hannaford Bros. Co., LLC (US), Gardein (Canada), and Land O' Frost (US).
The sausage category dominated the market in 2023.
The store based had the largest share in the market.
Frozen had the largest share of the market.