Red Meat Market Grow with a CAGR of 3.58% through 2029

The global red meat market is driven by rising consumer demand for protein-rich diets, expanding retail networks, technological advancements in meat processing, and increasing preference for convenience-based packaged products.

According to TechSci Research report, “Red Meat Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, the global Red Meat market stood at USD 870.78 billion in 2023 and is expected to grow USD 1,071.67 billion by 2029 with a CAGR of 3.58% during the forecast period. The global red meat market is a significant segment within the food industry, with a history of steady growth driven by the increasing demand for protein-rich diets across the world. Red meat, including beef, lamb, and pork, remains a staple in many diets, particularly in Western countries, while its consumption is expanding in emerging markets due to rising disposable incomes and shifting dietary preferences. In recent years, the market has seen a blend of traditional consumption patterns and emerging trends, with an increasing focus on sustainability, ethical sourcing, and alternative protein sources.

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The growth of the global red meat market is underpinned by several key drivers. First and foremost, the demand for protein-rich foods is on the rise, particularly in developing regions where growing middle classes are increasing their consumption of animal-based products. As economic development continues, particularly in Asia-Pacific countries, more consumers are shifting from plant-based diets to those rich in animal proteins, including red meat. This trend is amplified by urbanization, which leads to greater access to supermarkets and processed foods, where red meat is a common feature. The shift in consumer preferences toward more protein-dense foods is not limited to emerging markets, as developed regions are also witnessing strong demand for premium cuts of meat, such as organic, grass-fed beef, and high-quality lamb, which continue to gain popularity due to their perceived health and sustainability benefits.

However, the global red meat market is also facing several challenges. One of the most pressing issues is the increasing concern over the environmental impact of meat production. Red meat, particularly beef, has a substantial carbon footprint due to the methane emissions produced by livestock, deforestation for pastureland, and intensive feed crop production. As consumer awareness about climate change grows, there has been a shift in preferences towards more sustainable food choices, which could impact red meat consumption in the future. This trend is particularly evident in more environmentally conscious regions like Europe, where consumers are increasingly opting for plant-based and lab-grown alternatives as a more sustainable protein source.

The global Red Meat market is segmented into product type, sales channel, and region.

Based on the sales channel, the online segment is the fastest growing in the global red meat market, driven by the increasing popularity of e-commerce platforms and online grocery shopping. Consumers are increasingly purchasing red meat products from digital channels due to convenience, greater product variety, and home delivery services. The expansion of online grocery stores and specialized meat delivery services, particularly during the COVID-19 pandemic, has accelerated this trend. Additionally, improvements in digital payment systems and logistics have made online meat purchasing more reliable and efficient, contributing to its rapid growth.

Based on the region, North America is the fastest growing segment in the global red meat market, driven by high consumer demand for premium beef, pork, and lamb. Increasing disposable incomes, particularly in the U.S. and Canada, have boosted red meat consumption. Consumers are also seeking higher-quality, ethically produced meats, contributing to the growth of premium and organic meat products. Additionally, innovations in meat production technologies and improvements in supply chains have enhanced market efficiency. Furthermore, the rise of online retail platforms and the growing popularity of direct-to-consumer meat delivery services have contributed to the region's market expansion.

Major companies operating in the global Red Meat market are:

• Australian Agricultural Company Limited
• BRF S.A.
• Cargill, Incorporated
• Hormel Foods Corporation
• Itoham Yonekyu Holdings Inc. 
• JBS SA
• Marfrig Global Foods SA
• Minerva S/A
• Tyson Foods, Inc.
• NH Foods Ltd.  

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“Another significant driver is the ongoing advancements in meat production technologies. These innovations have not only helped in improving meat yield and quality but also contributed to making red meat production more efficient. The adoption of advanced breeding techniques, genetic research, and automated systems in meat processing plants have enabled producers to meet the growing demand while managing costs effectively. Furthermore, research into improving livestock health and feed efficiency has led to more sustainable meat production practices, which are crucial as the global population continues to rise. Additionally, supply chain improvements, including logistics and cold chain technologies, have made it easier to transport red meat products to distant markets, increasing global accessibility,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

Red Meat Market – Global Industry Size, Share, Trends, Opportunity and Forecast, By Product Type (Beef, Pig, Sheep & Goat, Others), By Sales Channel (Supermarket/Hypermarket, Convenience Stores, Online, Others), By Region & Competition, 2019-2029F”, has evaluated the future growth potential of global Red Meat market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Red Meat market.

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