Frozen Meat Market Size (2024 – 2030)

The Frozen Meat Market was valued at USD 83.92 billion in 2023. Over the forecast period of 2024-2030 it is projected to reach USD 117.3 billion by 2030, growing at a CAGR of 4.9%.

Key Market Insights:

The utilization of frozen meat presents several advantages, including extended shelf life and enhanced food safety, among others, thereby stimulating the expansion of the frozen meat market throughout the projected period. Additionally, frozen meat products contribute to the reduction of food wastage and offer convenience in preparation. The process of freezing effectively impedes the proliferation of potentially harmful bacteria, thereby mitigating the risk of foodborne illnesses. Furthermore, rapid freezing preserves the texture, flavor, and overall freshness of food items. The presence of minimal water content in the meat facilitates the formation of ice crystals, thereby preserving the freshness and nutritional integrity of the product. These factors collectively are anticipated to drive an upsurge in the demand for frozen meat over the forecast horizon.

Frozen Meat Market Drivers:

Demand for Convenience Foods Increasing the Market Growth

The frozen meat market is witnessing robust growth in urban areas, driven by the constraints of time and space among consumers, who find it challenging to prepare and store fresh meat. The escalating preference for convenience foods serves as a key catalyst propelling the global frozen meat market, a trend expected to sustain its momentum in the forthcoming years. Responding to this demand, companies within the frozen meat sector are diversifying their product offerings to include a broad array of convenient options, encompassing pre-cooked and pre-seasoned selections, as well as products designed for direct cooking from the frozen state.

Increasing Fast-Food Industry Drives Market Growth

The fast-food sector is undergoing a rapid expansion, particularly in emerging economies, buoyed by shifting lifestyles and rising disposable incomes, which are fueling the demand for swift and convenient culinary choices. Consequently, the frozen meat products market is poised for sustained growth as food service providers broaden their menus and offerings to cater to consumer preferences. As per the United Nations Food and Agriculture Organization, global meat consumption experienced a 1% uptick in 2021. In response to this trend, companies operating within the frozen meat industry are innovating their product lines to align with the specific requirements of the fast-food sector, including the development of pre-formed patties and pre-cooked chicken options.

Frozen Meat Market Restraints and Challenges:

The imposition of high tariffs on imported meat products is anticipated to impede market growth. These increased tariffs were implemented to safeguard domestic meat producers worldwide, who were grappling with substantial losses stemming from the influx of competitively priced meat imports. Nevertheless, technological advancements within the frozen meat sector are poised to bolster demand for frozen meat in the forecast period.

Frozen Meat Market Opportunities:

The proliferation of fast-food establishments and restaurants worldwide, coupled with the escalating demand for freezer meat to sustain their day-to-day operations, significantly influences the extensive expansion of the frozen meat market globally. For instance, renowned chains like KFC (Kentucky Fried Chicken) rely on freezer chicken to ensure consistency in taste across their international outlets, utilizing meat from various sources to uphold quality and flavor standards. This prevailing trend is anticipated to drive market growth in the forecast period.

FROZEN MEAT MARKET REPORT COVERAGE:

Frozen Meat Market Segmentation: By Meat Type

• Pork

• Chicken

• Beef

• others

The beef meat category stands as the predominant segment in the market, primarily due to its high consumption rate in Asian countries and substantial imports of frozen beef. This segment is projected to experience the most rapid growth, surpassing chicken and pork. Meat products, renowned for their high protein content, contribute to the elevated demand for beef over other meat varieties. Concurrently, the demand for pork is on the rise, fueled by the increasing volume of imports and exports of frozen meat.

Frozen Meat Market Segmentation: By Distribution Channel

• Online Retail

• Supermarkets & Hypermarkets

• Convenience Stores

• others

The supermarket and hypermarket channels are forecasted to experience the most rapid Compound Annual Growth Rate (CAGR) during the projection period. Key players in this retail sector include Walmart, Real Canadian Superstore, and Costco, collectively commanding a 15.0% share of the global market.

In addition to traditional retail channels, consumers increasingly prioritize accurate product scanning and authenticity verification before purchasing meat products. However, with the proliferation of internet connectivity and smartphone usage, coupled with the convenience offered by online platforms, online channels are gaining popularity among consumers. For instance, online grocery stores like ExpatShop and eButler offer a variety of meat products alongside other grocery items to attract consumers. The availability of doorstep delivery options and access to a wide array of brands further contribute to the growing demand in the market.

Frozen Meat Market Segmentation: By End User

• Food Service

• Household Consumption

The food service sector exerts significant dominance in the market, with numerous restaurants opting for frozen meat to enhance flavor and prolong shelf life. Concurrently, household consumption is on the rise, driven by the convenience of cooking and grilling meat within the confines of one's home, thereby reducing reliance on dining out.

Frozen Meat Market Segmentation- by region

• North America

• Europe

• Asia Pacific

• South America

• Middle East & Africa

North America holds a prominent position in the global frozen meat market, with the United States and Canada leading the region's dominance. This is driven by their advanced infrastructure, technological advancements, and evolving consumer preferences. Established players, efficient distribution networks, and a strong demand for convenient food options contribute to North America's market leadership. In the United States, the consumption of frozen meat has been steadily increasing as consumers seek time-saving meal solutions without compromising on quality, particularly in major cities like New York and Los Angeles. Ready-to-cook chicken strips, seasoned beef, and various processed meat items are among the popular choices. Furthermore, the growth of online retail and delivery services enhances market accessibility and consumer reach.

Meanwhile, Asia Pacific emerges as a rapidly growing region in the frozen meat market, propelled by countries such as China, Japan, India, and South Korea. Factors such as increasing urbanization, rising disposable incomes, and a growing middle-class population with evolving dietary preferences contribute to the market's expansion. In China, urbanization and lifestyle changes have spurred demand for frozen meat products, supported by the adoption of Western eating habits among the younger demographic. The region also benefits from the rapid expansion of e-commerce platforms. Popular frozen meat selections include various chicken cuts, pork, and seafood, catering to a diverse consumer base. As these regions continue to develop, the frozen meat market is poised for further growth and diversification, with innovative product offerings tailored to regional demands and preferences.

COVID-19 Pandemic: Impact Analysis

The COVID-19 pandemic had a notable impact on the global frozen meat market. The closure of numerous food service establishments resulted in a decrease in demand for frozen meat products. However, there was a corresponding surge in demand from retail stores as consumers began stockpiling essential food items in response to uncertainties surrounding the pandemic.

Latest Trends/ Developments:

• In April 2022, Prasuma made a significant announcement regarding the expansion of its product offerings by introducing the frozen food segment. Prasuma, an Indian brand known for its chilled meat and frozen food products, is set to unveil a range of new items, including Frozen Chicken Nuggets, Frozen Veg and Chicken Spring Rolls, Veg and Chicken Mini Samosas, Mutton and Chicken Shammi Kababs, and Mutton and Chicken Seekh Kababs, along with Bacon, to its frozen portfolio. This strategic move aims to broaden Prasuma's presence across various Indian territories.

• In February 2022, Seara Foods unveiled the Seara Shawata frozen marinated whole chicken. Seara Foods, a Brazilian food processing company specializing in meat products, is targeting the Middle Eastern and Latin American markets for the launch of this new product, capitalizing on the substantial demand for poultry products in these regions.

• In November 2022, Préval AG, an international agri-food company headquartered in Quebec, completed the acquisition of J&G Foods, located in Sutton, Massachusetts. J&G Foods is a provider of custom and specialty meats, focusing on portioned organic and grass-fed beef, organic and natural chicken, natural pork and beef, as well as various marinated and value-added meats. This acquisition enables Préval AG to diversify its presence in the frozen meat business, catering to the growing demand for frozen meat products worldwide.

Key Players:

These are top 10 players in the Frozen Meat Market: -

1. Astral Foods

2. Allanasons Pvt Ltd

3. General Mills Inc

4. Ajinomoto Foods

5. Conagra Brands, Inc

6.  Austevoll Seafood ASA

7. Cargill Inc

8. Kraft Heinz Company

9. Green Farms LLC

10. Kellogg Co