DUBLIN--(BUSINESS WIRE)--The "Meat Products Global Market Opportunities And Strategies To 2031: COVID-19 Impact And Recovery" report has been added to ResearchAndMarkets.com's offering.

This report describes and evaluates the global meat products market. It covers three five-year periods: 2016-2021, termed the historic period, 2021-2026, the forecast period, and 2026-2031 the forecast period.

The global meat products market reached a value of nearly $1,091.4 billion in 2021, having increased at a compound annual growth rate (CAGR) of 9.4% since 2016. The market is expected to grow at a CAGR of 7.2% from 2021 to reach $1,546.0 billion in 2026. The global meat products market is expected to reach $2,094.5 billion in 2031, at a CAGR of 6.3%.

Growth in the historic period resulted from increased demand for flavored meat products, low interest rates, a rise in disposable income, and emerging markets growth. Factors that negatively affected growth in the historic period were shortage of labor and geo-political tensions.

Going forward, a rise in global population and continued technology development are expected to be the major drivers of the market. Factors that could hinder the growth of the meat products market in the future include carcinogenic effects of processed meat, climate change and global warming, increased preference of poultry and impact of COVID-19.

The meat products market is segmented by type into pork, mutton, beef and other meat products. The beef market was the largest segment of the meat products market segmented by type, accounting for 44.5% of the total in 2021. The pork market is expected to be the fastest growing segment, at a CAGR of 8.7% during 2021-2026.

The meat products market is also segmented by distribution channel into supermarkets/hypermarkets, convenience stores, e-commerce, and others. The supermarkets/hypermarkets market was the largest segment of the meat products market segmented by distribution channel, accounting for 50.2% of the total in 2021. The e-commerce market is expected to be the fastest growing segment, at a CAGR of 15.8% during 2021-2026.

The meat products market is also segmented by product type into chilled, frozen and canned/preserved. The canned/preserved market was the largest segment of the meat products market segmented by product type, accounting for 52.7% of the total in 2021. The chilled market is expected to be the fastest growing segment, at a CAGR of 8.1% during 2021-2026.

The meat products market is also segmented by nature into organic and conventional. The conventional market was the largest segment of the meat products market segmented by end-use, accounting for 95.3% of the total in 2021. The organic market is expected to be the fastest growing segment, at a CAGR of 13.9% during 2021-2026.

Asia Pacific was the largest region in the global meat products market, accounting for 50.8% of the total in 2021. It was followed by North America, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the meat products market will be Africa and South America where growth will be at CAGRs of 9.2% and 9.0% respectively.

The meat products market is fairly fragmented with a large number of players in the market. The top ten competitors in the market made up to 12.69% of the total market in 2021. Major players in the market include JBS S.A., Tyson Foods Inc., WH Group, Marfrig Global Foods S.A., Danish Crown and others.

The top opportunities in the meat products market segmented by type will arise in the pork segment, which will gain $248.6 billion of global annual sales by 2026. The top opportunities in the meat products market segmented by distribution channel will arise in the supermarkets/hypermarkets segment, which will gain $216.4 billion of global annual sales by 2026.

The top opportunities in the meat products market segmented by product type will arise in the canned/preserved segment, which will gain $254.9 billion of global annual sales by 2026. The top opportunities in the meat products market by nature will arise in conventional market, which will gain $407.2 billion by 2026. The meat products market size will gain the most in China at $192.6 billion.

Market-trend-based strategies for the meat products market include investing in robotics technology, considering making new ready-to-eat variants, considering producing plant based alternatives to lessen environmental impact, considering integrating 3D imaging systems, investing in virtual reality to increase the efficiency, considering offering online delivery services, considering artificial intelligence technology to increase productivity of meat processing and quality and safety of the meat product, monitoring developments in cultured meat technology, and exploit transformational opportunities from the developments in nanotechnology in the food industry.

Player adopted strategies include strategic acquisition of emerging, strategic partnership, expanding its product portfolio, through establishment of new processing and facilities, enhancing its operational capabilities, and through investments in new automation technologies.

To take advantage of the opportunities, meat products companies should focus on ready-to-eat meals, offer plant-based meat products, invest in robotics technology, increase the use of 3D imaging systems, focus on nanotechnology in meat production, focus extensively on emerging economies, expand in developed markets, offer competitively priced products, target local retail stores and supermarkets, focus on prime shelf positions in stores, leverage social media, focus on offering meat products through online channels and target health-conscious population.

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