Meat - NAFTA | Statista Market Forecast

Revenue in the Meat market amounts to US$207.10bn in 2024. The market is expected to grow annually by 4.69% (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$405.80 are generated in 2024.
In the Meat market, volume is expected to amount to 22.30bn kg by 2029. The Meat market is expected to show a volume growth of 2.4% in 2025.0.
The average volume per person in the Meat market is expected to amount to 39.5kg 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 NAFTA is experiencing minimal growth due to various factors such as changing consumer preferences, increasing health consciousness, and growing demand for meat substitutes. These sub-markets, including Fresh Meat and Processed Meat, are impacted by the convenience and availability of online options and the rising trend of plant-based diets. Despite the slow growth rate, the Meat Market in NAFTA remains a significant contributor to the overall Food Market in the region.

Customer preferences: As consumers become more health-conscious, there has been a rise in demand for alternative protein sources in the Meat Market within The Food market. This trend is driven by the increasing popularity of plant-based diets, as well as concerns over the environmental impact of traditional meat production. Additionally, the rise of social media and influencer culture has led to a greater emphasis on ethical and sustainable food choices among consumers. These factors have prompted companies to innovate and offer more plant-based and environmentally friendly options in the meat market.

Trends in the market: In the Meat Market within The Food market, there is a growing trend towards sustainable and ethically-sourced meat products. Consumers are becoming more conscious of the environmental and ethical implications of their food choices, and are seeking out products that align with their values. This trend is expected to continue, with more companies investing in sustainable and ethical farming practices. This has significant implications for industry stakeholders, as they will need to adapt and innovate in order to meet consumer demand and maintain competitiveness. In addition, there is also a rising trend towards plant-based meat alternatives, driven by health and environmental concerns. This trend is expected to continue, with companies investing in research and development to create more realistic and appealing plant-based options. This will have implications for traditional meat producers, who may need to diversify their product offerings in order to stay competitive in the market. Overall, the trajectory of these trends points towards a more sustainable and socially responsible meat market, with potential implications for industry stakeholders in terms of production methods, marketing strategies, and product offerings.

Local special circumstances: In Canada, the Meat Market within The Food market is heavily influenced by the country's vast geography and diverse cultural traditions. The wide-ranging landscape and varying climate conditions create unique challenges for meat producers, influencing production methods and distribution channels. Additionally, Canada's multicultural population has an impact on the types of meat consumed and the demand for specialty products. Government regulations, such as the Canadian Food Inspection Agency's strict standards for food safety and labeling, also play a significant role in shaping the market dynamics for meat in Canada.

Underlying macroeconomic factors: The Meat Market within The Food market is heavily impacted by macroeconomic factors such as trade policies, economic stability, and consumer spending habits. With the implementation of NAFTA, the market has seen an increase in trade and access to new markets. However, fluctuations in national economic health and changes in fiscal policies can greatly impact the demand for meat products. Additionally, consumer trends and preferences, such as a shift towards plant-based diets, can also impact the growth of the market. It is crucial for companies operating in this market to closely monitor these macroeconomic factors to make informed business decisions and adapt to changing market conditions.

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.