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Frozen Meat Market – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

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The global frozen meat market was valued at US$ 22.18 billion in 2018 and is expected to register a CAGR of 4.9% in terms of revenue over the forecast period (2019 – 2027)
Frozen Meat Market – Size, Share, Outlook, and
Opportunity Analysis, 2018 – 2026
The market is projected to reach US$ 33.9 billion by the end of 2027, at a CAGR of 4.9%
over the forecast period, attributing to increasing demand for meat and packaged food.
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Frozen meat offers various advantages such as longer shelf life, food safety, and others, and
is expected to drive growth of the frozen meat market over the forecast period. Moreover,
frozen meat products help reduce food waste, are easy to cook. The freezing action inhibits
growth of potentially harmful bacteria, which are a cause of food poisoning. Due to rapid
freezing, the texture, taste, and freshness of food items is maintained. If there is little water
present, it transforms itself into ice crystals, thus locking freshness and nutritional value.
These factors are expected to increase the demand for frozen meat over the forecast period.
Distribution channels of frozen meat include supermarkets, hypermarkets, online,
convenience stores, and others. Other distribution channels include specialty stores and
departmental stores. Supermarkets segment is expected to grow at a faster pace during the
forecast period. Increasing urbanization in emerging economies of Asia Pacific and Latin
America has led to increased consumption of packaged food products. For instance,
according to the India Brand Equity Foundation (IBEF), the number of supermarkets in India
grew from 500 stores in 2006 to 8,500 stores by 2016.
High tariffs imposed on imported meat products is projected to hamper the market growth.
For instance, in 2017, the Japan Ministry of Finance announced raised tariffs on beef imports
from the U.S. The raised tariffs were announced to protect the domestic meat producers who
were facing significant losses due to low-priced meat imports. However, technological
advancements in the frozen meat industry are expected to increase demand for frozen meat in
the near future.
The global frozen meat market was valued at US$ 22.18 billion in 2018 and is expected to
register a CAGR of 4.9% in terms of revenue over the forecast period (2019 – 2027).
North America is the fastest growing region and accounted for the largest market share of
around 34.6% in 2018, owing to increasing demand for protein rich food and advancement of
technology in the food industry. Hectic lifestyle and changing consumer dietary patterns are
also driving the market growth.
Furthermore, companies are focusing on product development in order to expand their
product portfolio. For instance, in 2016, Kerry Group Plc. launched a range of American
frozen dishes under the brand name ‘The Shack’ in the U.K. The products include beef
burrito, chicken fajita, and macaroni and cheese. The products will be sold exclusively
through U.K. frozen food retailer Iceland.
Among meat type, poultry segment held significant market share of 33.4% in the global
frozen meat market in 2018. Frozen poultry meat has an extensive shelf life compared to
conventional raw meat, which in turn is expected to bolster the demand for frozen meat in the
near future.
Players operating in the global frozen meat market are adopting various growth strategies
such as mergers & acquisitions and business expansions to cater to increasing demand for
frozen meat. For instance, in 2016, Cargill, Inc. acquired Five Star Custom Foods, Ltd.,
which produces cooked meat crumbles, soups, and sauces for both restaurants and food
producers in the U.S. Five Star Custom Foods, Ltd. also produces individually quick frozen
(IQF) meat crumbles to retain their taste, texture and appearance.
Major players operating in the global frozen meat market include Kerry Group Plc.,
Associated British Foods Plc., BRF S.A., Verde Farms LLC, JBS S.A., Marfrig Global Foods
S.A., Cargill Inc., Tyson Foods, Inc., Pilgrim’s Pride Corporation, and V H Group.
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