Meticulous Research®—a prominent global market research firm—has released a comprehensive report titled Meat Market by Product Type (Processed Meat, Fresh Meat), Animal Type (Cattle and Buffalo, Pig, Poultry, Sheep, and Goat), by Distribution Channel (Business to Consumer (B2C), Business to Business (B2B) - Global Forecast to 2029. This report provides an in-depth analysis of the global meat market, including market dynamics, trends, and forecasts through 2029.

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According to Meticulous Research®, the global meat market is poised for substantial growth. The market is projected to reach a value of $1,345.9 billion by 2029, reflecting a compound annual growth rate (CAGR) of 5.7% from 2022. In terms of volume, the market is expected to hit 374.4 million tons cwe (carcass weight equivalent) by 2029, growing at a CAGR of 1.1% over the same period. The primary drivers of this growth include an increasing demand for animal-based foods, protein-rich diets, and innovative meat products. Additionally, rising awareness about organic processed meat and gluten-free options is anticipated to open up lucrative opportunities for market stakeholders. However, challenges such as the carcinogenic effects of processed meats and growing interest in meat alternatives may moderate market expansion.

The report delves into historical data, covering market value and volume from 2020 and 2021, current estimates for 2022, and projections up to 2029. The analysis is segmented by animal type (cattle and buffalo, pig, poultry, sheep and goat, and others), product type (processed meat—including frozen, chilled, and canned meats—and fresh meat), and distribution channel (business to consumer (B2C) and business to business (B2B)). It also provides a competitive landscape analysis and evaluates the market on a regional and country level.

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Animal Type Analysis:
In 2022, the cattle and buffalo segment is expected to dominate the global meat market. This dominance is attributed to the high demand for beef, which is a major protein source. Cattle and buffalo meats generally offer higher protein content compared to other meats, such as chicken, pork, turkey, and lamb. The increasing awareness of the nutritional benefits of protein and a growing preference for beef—partly due to health concerns related to poultry and pork—are likely to drive growth in this segment.

Product Type Analysis:
The processed meat segment is projected to hold the largest share of the global meat market in 2022. Processed meats, which include frozen, chilled, and canned varieties, are favored for their convenience, extended shelf life, and ready-to-cook nature. This segment’s growth is fueled by busy lifestyles that demand quick and easy meal solutions. Urbanization and rising per capita incomes, particularly among millennials, are expected to further boost the processed meat market.

Distribution Channel Analysis:
In terms of distribution, the business to consumer (B2C) segment is forecasted to command the larger share of the market in 2022. This dominance is driven by factors such as the proliferation of supermarkets and hypermarkets, which enhance product accessibility and sales. Consumer preferences for physical stores due to convenience and the growing use of e-commerce platforms for essential goods are significant contributors to the B2C segment's growth.

Geographic Review:
The report provides a detailed geographic analysis of the meat market, segmented into regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
• Asia-Pacific is expected to account for the largest share of the global meat market in 2022. This region's substantial market share is driven by increasing awareness of protein-rich diets, rapid technological advancements in the food and beverage industry, and robust demand for meat products in developing countries such as China and India. Additionally, the region’s rapid urbanization, rising incomes, and changing lifestyles have led consumers to favor convenient, ready-to-cook meat products.
• North America and Europe are also significant markets. In North America, the demand for meat is supported by a high level of consumer spending and advanced food infrastructure. Europe’s market growth is influenced by increasing interest in organic and high-quality meat products.
• Latin America and Middle East & Africa are emerging markets with growing demand due to urbanization and economic development.

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Competitive Landscape:
The report includes an extensive assessment of the competitive landscape, highlighting key strategic developments in the meat industry over the past 4-5 years. Major players in the global meat market include Cargill Incorporated (U.S.), Tyson Foods, Inc. (U.S.), JBS S.A. (Brazil), Hormel Foods Corporation (U.S.), American Foods Group, LLC (U.S.), Koch Foods, Inc. (U.S.), Smithfield Foods, Inc. (U.S.), National Beef Packing Company, LLC (U.S.), Perdue Farms Inc. (U.S.), and Allanasons Private Limited (India), among others. These companies are actively involved in strategic initiatives to expand their market presence and enhance their product offerings.

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