The global meat, poultry & seafood market is expected to reach USD 7.3 trillion by 2025, according to a new report by Grand View Research, Inc. The industry is anticipated to grow substantially over the forecast period owing to the increasing demand for meat, poultry & seafood products.
Poultry is expected to emerge as the fastest-growing product segment in terms of volume in the U.S. owing to the increased consumption as compared to other meat and seafood products. In June 2017, consumer survey undertaken by the National Chicken Council revealed that over 84% of consumers had eaten chicken purchased from a supermarket within the previous two weeks, and 67% had consumed chicken at a food service establishment — down from 87% and 72% in 2016, but about the same as observed in 2015.
India is expected to witness a moderate increase in poultry and seafood consumption. While meat is estimated to lose its market share as beef products are expensive as compared to seafood and poultry chicken. Seafood demand in India accounted for a market share of 27.8% in terms of volume of Asia Pacific in 2025.
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Further key findings from the report suggest:
• Seafood emerged as the largest product segment in 2016. Seafood demand in Central and South America is expected to grow at a CAGR of 6.4% in terms of revenue over the forecast period.
• Poultry is expected to have a market share of 17.4% of the total volume in Europe in 2025. Poultry is also expected to emerge as the fastest-growing segment in Europe.
• Meat products accounted for a share of 42% of the total volume in North America in 2016. Rising demand for meat and meat products coupled with increasing consumer awareness is expected to rise meat demand over the next eight years.
• The seafood demand in North America was 9.0 million tons in 2016. The growing demand for salmon, sardine, and shrimp has contributed to the seafood market growth over the past few years.
• Asia Pacific emerged as the largest regional market in meat, poultry, and seafood market. China accounted for a market share of 39.7% of the total volume in 2025.
• The growing health consciousness towards organic foods that are natural and do not have any artificial preservatives has resulted in an increase in overall organic meat intake
• Key companies involved in the sector include ConAgra, Tyson Foods, Hormel Foods, Cremonini Group. Other companies include Dawn Farm Foods, Beigi Foods GmbH, Pilgrim’s and Wayne Farms
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Grand View Research has segmented the global meat, poultry, and seafood market on the basis of product and region.
Raw Material Outlook (Volume, Million Tons; Revenue, USD Billion; 2014 - 2025)
• Meat
• Poultry
• Seafood
Regional Outlook (Volume Million Tons; Revenue, USD Billion; 2014 - 2025)
• North America
o The U.S.
• Europe
o Germany
• Asia Pacific
o China
o India
• Central & South America (CSA)
• Middle East & Africa (MEA)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.