From Farm to Table: The Evolution of the Meat Market

1. Global Meat Market: Trends & Forecasts Prepared by Expert Market Research August 2025

2. Executive Summary The global meat market continues to demonstrate robust growth despite increasing challenges in production and shifting consumer preferences. $1.49T $1.87T 2.3% 2025 Market Size 2034 Forecast Overall CAGR The global meat market is valued at approximately USD 1.49 trillion in 2025, representing one of the largest food sectors globally. The market is projected to reach USD 1.87 trillion by 2034, growing at a compound annual growth rate (CAGR) of 2.3%. While modest compared to other food sectors, this growth rate represents significant absolute value increase in a mature market. This presentation provides a comprehensive analysis of market dynamics, regional variations, and strategic opportunities for stakeholders.

3. Market Drivers & Dynamics Several interrelated factors continue to drive the expansion of the global meat market across developed and developing economies. 1 2 3 Rising Disposable Incomes Foodservice Expansion Urbanization & Evolving Diets Increasing wealth, particularly in emerging markets, has historically correlated with higher meat consumption. As middle classes expand in developing nations, protein consumption typically shifts toward animal sources. The global foodservice industry continues to grow, with quick-service restaurants and food delivery platforms creating new distribution channels for meat products. Post-pandemic recovery has accelerated this trend. Migration to urban centers is changing traditional dietary patterns, with city dwellers typically consuming more processed and convenient meat products than their rural counterparts. These drivers continue to shape market development despite countervailing trends such as plant-based alternatives and health concerns.

4. Regional Breakdown & Growth Rates Regional Growth Comparison Asia-Pacific leads global meat market growth, driven by population expansion, rising incomes, and changing dietary preferences. Key markets include: • India: Projected to grow at ~3.1% CAGR through 2034 • China: Expected to maintain ~2.5% CAGR despite recent volatility • Southeast Asia: Emerging as a high-growth region with increasing meat consumption per capita North America and Europe show more modest growth rates (1.2-1.8% CAGR) but remain significant in absolute market size.

5. Market Segmentation: Meat Types & Processing Frozen 34% Beef 26% Pork 24% Chicken 38% Fresh/Chilled 46% Chicken continues to dominate growth metrics across most regions, with beef maintaining premium positioning despite volume challenges. Processing technologies are transforming how meat reaches consumers: By Meat Type By Processing Method • Chicken leads growth (4.1% CAGR) • Fresh/chilled dominates premium segments • Beef maintains value leadership • Frozen offers logistics advantages • Pork recovers from supply disruptions • Processed shows highest growth rate • Mutton remains niche but stable • Value-added products gain market share

6. Consumer Trends & Pricing Dynamics Shifting Protein Preferences U.S. chicken consumption has surpassed beef and continues to grow, driven by perceived health benefits and comparative affordability. 8.8% Premium meat segments show resilience despite inflation, as consumers prioritize quality over quantity in discretionary purchases. 5.2% Price Inflation by Category (2025) 3.6% Beef Highest inflation rate due to supply constraints and production costs Pork Moderate inflation with improving supply chain resilience Poultry Lower inflation due to production efficiencies and shorter production cycles

7. Value-Added & Alternative Proteins Processed Meat Growth 2034 Projection The global processed meat segment reaches USD 740 billion in 2025, representing approximately half of total market value. Processed meat market expected to reach USD 1.26 trillion by 2034, growing at ~6% CAGR - significantly outpacing the broader meat market. 1 2 3 Mid-Term Expansion Convenience and shelf-stability drive segment growth, with ready-to-eat and premium processed varieties gaining share through 2029. Cultivated Meat: Exponential Growth Potential The cultivated/lab-grown meat sector shows remarkable projected growth: • 2025 market size: USD 862 million (niche) • 2034 forecast: USD 36.6 billion • Extraordinary CAGR of ~51% • Regulatory approvals accelerating globally • Production scaling remains key challenge

8. Industry Highlights & Leading Companies Tyson Foods Performance Snapshot Key Industry Developments The industry leader demonstrates the current market dynamics: Significant consolidation continues across the value chain: • Vertical integration accelerating among top players • Strong chicken segment margins (+12% YoY) • Investment in automation to address labor challenges • Beef division operating at a loss amid high input costs • Growing emphasis on traceability and sustainability credentials • Strategic pivot toward value-added products • 2025 outlook emphasizes operational efficiency and portfolio optimization • Strategic partnerships between traditional producers and alternative protein startups

9. Challenges & Risks Supply Constraints Trade Barriers Inflationary Pressures U.S. cattle herd at 30-year low, driving beef price volatility. Production cycles limit quick supply response, with recovery timelines of 2-3 years projected. Increasing export tariffs and non-tariff barriers disrupting established trade flows. Geopolitical tensions creating uncertainty for major exporters. Persistent input cost inflation squeezing margins across the value chain. Feed costs, energy prices, and logistics expenses remain elevated. Labor Shortages Logistics Bottlenecks Regulatory Evolution Processing facilities facing chronic workforce challenges. Wage inflation and retention issues increasing operational costs. Cold chain disruptions affecting product quality and shelf life. Transportation costs impacting regional price differentials. Increasing focus on environmental and animal welfare standards. Carbon footprint concerns driving policy shifts in key markets.

10. Outlook & Strategic Recommendations Strategic Imperatives Key Growth Opportunities 1 Processed & Value-Added Products Develop premium processed offerings with clean-label positioning to capture margin opportunities. 2 Poultry Segment Expansion Prioritize chicken production and processing capabilities to align with consumer preference shifts. 3 Alternative Protein Integration Consider strategic investments in cultivated meat technologies as complementary portfolio additions. 4 Asia-Pacific Market Development Target expansion in high-growth APAC markets, particularly India, Southeast Asia, and second-tier Chinese cities. Industry players should focus on three key strategies to navigate market dynamics through 2034: Implement portfolio diversification across protein types and price points Invest in production technology to improve efficiency and sustainability Develop direct-to-consumer capabilities to capture margin and consumer data