Frozen Meat Market Research Report, Industry Demand, Competitor Strategy, Future Investments, Emerging Trend by Forecast to 2023
Frozen Meat Market Information by Product Type (Frozen Processed Meat, Frozen Whole Cut), End User (Food service, Retail customers), Distribution Channel (Store Based and Non-Store Based)
pune, India – August 20, 2019 /MarketersMedia/ —
Market Overview
The global frozen meat market was analyzed by Market Research Future (MRFR) and it was projected that a decent CAGR of 4.36% will be attained by the market over the forecast period of 2018 to 2023. The valuation of the frozen meat market was further stated to surpass its previous valuation.
The preference among consumers for ready-to-eat foods items and meat product is increasing at a rapid pace with evolving lifestyle and food habits of people across the globe. Increasing demand for meat-based products with increased shelf life without any addition of preservatives is one of the biggest factors that is pushing the growth of the global frozen meat market. Expansion of the online food delivery services and the improved living standards of individuals are positively impacting the growth of the frozen meat market globally. Global proliferation of food joints and restaurants that primarily rely on frozen meat items is another key factor fuelling the growth of the global market for frozen meat.
Add to this, increasing number of nuclear families across developed nations alongside the increasing migration of individuals from rural areas to metropolitan cities is expected to drive the market demand for frozen meat in the coming years. The frozen meat market offers a massive opportunity for the retail industry. Retail industry is reported to be observing considerable growth over the last decade or so, one which is expected to positively boost the overall demand for frozen meats.
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On the other hand, the processing cost associated with frozen meat is extremely high, this is in turn increasing the price of frozen meat products. Moreover, high pricing and lack of storage facilities in developing regions are expected to likely create a challenge for the growth of the global market over the forecast period. The prevalence of several diseases spreading through the consumption of meat has prompted the recall of frozen meat stock across different regions in the world. For instance, a batch of frozen crab meat was reported to have been recalled urgently due to the outbreak of listeria in Ireland. Such incidences can negatively impact the growth of the global frozen meat market over the forecast period.
Competitive Landscape
The global frozen meat market comprises a host of key players. This includes names like
• Pilgrim’s Pride Corporation (U.S.),
• Associated British Foods Plc. (U.K.),
• Marfrig Group. (Brazil),
• Kerry Group Plc. (Ireland),
• Tyson Foods, Inc. (U.S.),
• BRF S.A. (Brazil),
• Cargill Incorporated (U.S.)
Some of the leading players in the global market are duly concentrating on improving their product quality in order to ensure optimal freshness and nutrition level of the meat.
Market Segmentation
The global frozen meat market has been segmented in terms of type, end-user, and distribution channel.
By product type, the market includes frozen whole cut and frozen processed meat. The frozen processed meat segment of the market is expected to enjoy most of the share during the forecast period.
By distribution channel, the market is branched down into store-based and non-store based. The store-based segment is reported to grow at a significant rate to lead the global market over the forecast period.
By end-users, the market is including retail customers and service.
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Regional Analysis
The global frozen meat market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW). Among these, the European regional frozen meat market leads the standings and is projected to maintain its dominance over the forecast period. Booming economic growth, rising urbanization, proliferation of the middle-class population, and others are some of the key factors of growth for the market of frozen meat in Europe. In Europe, Germany is anticipated to gain the maximum share portion of 26.17% by the end of the forecast period. However, Asia Pacific regional frozen meat market is expected to exhibit the highest CAGR of 4.87% during the same period.
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Website: https://www.marketresearchfuture.com/reports/frozen-meat-market-2693
Source: MarketersMedia
Release ID: 88909923
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