Frozen Meat Market Is Estimated To Witness High Growth Owing To Increasing Demand And Advanced Food Processing Technologies
The frozen meat market is estimated to be valued at USD 24.85 billion in 2024, exhibiting a CAGR of 3.5% over the forecast period (2024-2031). The market is driven by the increasing demand for convenience foods and advanced food processing technologies that help improve the shelf life of meat products. Furthermore, rising health consciousness among consumers is also fueling the demand for frozen meat products as they retain more nutrients compared to fresh meat products.
Increasing demand frozen meat
The growing demand for convenience foods owing to changing lifestyles and busy schedules of consumers has been a major driver for the frozen meat market. Frozen meat products have a longer shelf life and can be stored and consumed as per requirement. This fuels their demand among both retail and foodservice sectors.
Advanced processing technologies
Continuous innovations and advancements in food processing technologies help improve the quality and shelf life of frozen meat products. Technologies such as controlled atmosphere processing and individually quick freezing (IQF) help maintain the moisture, texture, taste, and nutritional value of meat during freezing and storage. This attracts more consumers and stimulates the market growth.
Rising global demand for processed and packaged food
One of the major drivers for the frozen meat market is the rising global demand for processed and packaged food products. With changing lifestyles and busy schedules, consumers prefer food products that are quick and easy to prepare. Frozen meat offers great convenience as it can be stored for longer periods and directly cooked without much preparation. The growing working population and dual-income households have boosted the demand for convenient packaged foods including frozen meat. Moreover, urbanization is leading to nuclearization of families which favors small household sizes demanding easy to cook meals.
Health benefits associated with frozen meat
Another key factor fueling the frozen meat market is the various health benefits associated with frozen meat. Freezing meat right after slaughtering helps preserve all the nutrients present in fresh meat. During the freezing process, small ice crystals form which do not damage the cell structures. When thawed and cooked properly, frozen meat retains almost all the proteins and nutrients such as vitamins, minerals, etc. Freeze drying even helps retain the majority of water-soluble vitamins. The controlled freezing temperatures allow the meat to retain its natural color, flavor, and texture. This positions frozen meat as a nutritious option for health-conscious consumers.
Quality and food safety issues
One of the major restraints for the frozen meat market is quality and food safety issues. Thawing and temperature abuse during storage and transportation can compromise the quality of frozen meat. Improper cooking of previously frozen meat can also reduce its nutritional value and introduce health hazards. Issues regarding microbial contamination, foodborne diseases, and usage of preservatives pose challenges. Stricter food quality and safety regulations across countries add to compliance costs for manufacturers. Developing cold chain infrastructure especially in emerging regions is another area of concern for ensuring frozen meat reaches consumers in top condition.
High packaging and logistics costs
The high packaging and logistics costs associated with frozen meat distribution is another key restraint. Freezing meat requires specialized packaging materials that can withstand freezing temperatures and protect the product during transportation. Maintaining uninterrupted cold chains from manufacturing facilities to retailers also demands strict temperature control measures inflating costs. Moreover, high energy costs for freezing and bulk storage infrastructure investments curb profit margins. Significant capital is required to set up large scale processing units and build reliable supply networks globally. This poses challenges for new entrants and restricts market reach for established players as well.
Growth of modern retail and e-commerce
One of the major opportunities in the frozen meat market is the rapid growth of modern retail and e-commerce channels globally. Supermarkets, hypermarkets, discount stores, and other organized retail formats are gaining prominence over traditional grocers. The expanded shelf space, appealing packaging, and varied product offerings make modern retail an efficient distribution channel. Similarly, the booming online grocery segment offers untapped potential with doorstep delivery convenience. Technology integrations can help frozen meat manufacturers directly engage and fulfill customers. Tapping into these emerging sales platforms can drive higher volumes and expanded market outreach.
Increasing demand in developing regions
Another key opportunity for frozen meat producers lies in catering to the burgeoning demand from developing regions. Countries across Asia Pacific, Latin America, the Middle East, and Africa are experiencing robust economic growth and rising disposable incomes. This is fueling urban migration and lifestyle changes and creating a huge consumer base. Infrastructure development in cold chain logistics, food processing, and retail are making these emerging markets more conducive for frozen products. Global players can gain first-mover advantages through joint ventures, acquisitions, and contract manufacturing in developing regions. Catering to local tastes and budgets will unlock significant untapped potential.
Link: https://www.coherentmarketinsights.com/market-insight/frozen-meat-market-2576
Key Developments
- In March 2024, the Indian online grocery platform BigBasket announced a partnership with renowned celebrity chef Sanjeev Kapoor to launch a new frozen foods brand called "Precia".
- In July 2024, Redefine Meat, a leading provider of plant-based 'new-meat' products, announced the launch of its award-winning Redefine Flank Steak in the European retail market.
- In February 2024, Conagra Brands, a major food conglomerate, announced a strategic focus on expanding its presence in the frozen foods market.
- In 2022, Prasuma, an Indian brand known for its chilled meat and frozen food products, announced the expansion of its product portfolio to include a new frozen food segment.
Key Players
Kerry Group Plc, BRF S.A., Verde Farms LLC, JBS S.A., Marfrig Global Foods S.A., Cargill Inc., Tyson Foods Inc., Pilgrim’s Pride Corporation, V H Group., Arcadian Organic and Natural Meat Co., Verde Farms, Xiamen Yinxiang Group Co. Ltd, Allana , AL-Shah Enterprises, Al Aali Exports Pvt. Ltd., and International Agro Foods
