Meat - G20 | Statista Market Forecast

Revenue in the Meat market amounts to US$1.03tn in 2024. The market is expected to grow annually by 4.98% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$273bn in 2024).
In relation to total population figures, per person revenues of US$206.70 are generated in 2024.
In the Meat market, volume is expected to amount to 121.20bn kg by 2029. The Meat market is expected to show a volume growth of 2.6% in 2025.0.
The average volume per person in the Meat market is expected to amount to 21.7kg in 2024.

Definition:

The Meat market covers animal (both domestic and wild) and non-animal meat that are bought and consumed for nutrient-based purposes.

Structure:

The market consists of 3 different submarkets:

The Fresh Meat market covers meat from both domestic and wild animals that are fresh, chilled, or frozen. This market is divided into five submarkets: beef & veal, pork, mutton & goat, poultry, and other fresh meat.
The Processed Meat market covers all types of meat that has been dried, salted, brined, or smoked. This segment is divided into three subsegments: cold & roast meat products, ham & bacon, sausages.
The Meat Substitutes market covers meat-replacement food items created from vegetarian or vegan components.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

Fresh Meat
Processed Meat
Meat Substitutes

Meat-based ready-to-eat meals
Out-of-home consumption

The Meat Market in The Food market within the G20 has been experiencing minimal growth, influenced by factors such as fluctuating consumer preferences, increasing competition from meat substitutes, and regulatory changes. Despite these challenges, the market continues to expand due to the steady demand for fresh and processed meat, driven by the growing population and rising disposable incomes.

Customer preferences: As consumers become more health-conscious, there has been a rise in demand for plant-based meat alternatives in the Meat Market within The Food market. This trend is driven by a growing awareness of the environmental impact of meat consumption and the health benefits of a plant-based diet. Additionally, the rise of flexitarianism and vegetarianism among younger generations has also contributed to this shift. This has led to an increase in availability and variety of plant-based meat options in the market.

Trends in the market: In the G20 countries, the Meat Market within The Food market is seeing a shift towards sustainable and plant-based alternatives. This trend is driven by increasing consumer awareness of the environmental impact of meat production and the health benefits of reducing meat consumption. Additionally, there is a growing demand for ethical and cruelty-free products. This trend is expected to continue, with more industry players investing in and developing plant-based meat alternatives. This could have significant implications for traditional meat producers and could lead to a shift in consumer preferences towards more sustainable and ethical products.

Local special circumstances: In Argentina, the Meat Market within The Food market is heavily influenced by the country's strong meat-eating culture and its vast land for cattle farming. This results in a high demand for various meat products, including beef, pork, and poultry. Additionally, the government's strict regulations on imported meats and subsidies for local farmers further shape the market dynamics. This has also led to the rise of local artisanal meat producers, catering to the growing trend of ethical and sustainable meat consumption in the country.

Underlying macroeconomic factors: The Meat Market within The Food market is greatly impacted by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Countries with strong economic growth and stable financial indicators are experiencing a rise in demand for meat products, while regions with economic challenges are facing a decline in market performance. Moreover, government policies and regulations related to food safety and animal welfare also play a significant role in shaping the meat market. In addition, changing consumer preferences and increasing awareness about sustainable and ethical meat production practices are influencing market dynamics. Overall, the meat market is highly sensitive to macroeconomic factors and their impact on consumer behavior and government policies.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

In the past, many cultures considered meat a luxury that could only be enjoyed on special occasions or certain days of the week, while today it is a staple that can be found in nearly all restaurants and many kitchens all over the world. The market value of the meat industry is expected to rise from 897.5 billion U.S. dollars in 2021 to over 1.3 trillion dollars by 2027. In 2022, the United States saw the highest revenue from meat products and sausages, over five billion U.S. dollars more than the second largest meat market in the world, Germany with a revenue of over 33.6 billion U.S. dollars. France, Russia, and Mexico are finishing the top five countries with the biggest revenue from processed meats.