Expanding Meat Industry Anticipated to Achieve USD 107.5 Billion by 2034

Expanding Meat Industry Anticipated to Achieve USD 107.5 Billion by 2034

The global meat market is projected to experience a steady growth trajectory over the next decade, with meat production anticipated to rise by around 13% to 406 million tonnes carcass weight equivalent (cwe) by 2034 [1]. This growth is particularly noteworthy in the processed meat market, which is forecasted to reach approximately $1.123 trillion by 2035 [3].

Asia emerges as the primary growth engine, contributing around 55% of the total global growth in meat production [1]. Rapid expansion is expected in Southeast Asian countries like Vietnam, the Philippines, and Thailand, driven by recovery from African Swine Fever (ASF), industrialization of farming, and growing domestic demand [1]. Developing countries more broadly—particularly lower middle-income economies—are also driving increased consumption, with projected rises in animal-source food intake of 24%, well above the global average [5].

Pig meat, poultry, and beef remain key sources of meat production, with pig meat contributing around 13% of the anticipated increase [1]. There is strong growth in meat-based processed food products (FPP), including processed meat snacks, sausages, ready-to-eat meals, chilled and frozen products [2][3]. Pork and poultry dominate raw materials for processed meat products globally, though beef imports support Western-style processed food brands, particularly in China [2].

Urban supermarkets and e-commerce platforms are major drivers for ready-to-eat and vacuum-packed meat products in China and India, with increasing infrastructure investments in cold chain logistics supporting last-mile delivery [2]. Impulse purchase channels like petrol stations are gaining importance for pork-based snack foods in markets like the UK [2].

The FAO and OECD project a 6% global increase in per capita consumption of animal-source foods by 2034, especially pronounced in developing regions due to rising income and urbanization [5]. The alternative protein segment, such as the vegan steak market, is also growing rapidly (CAGR ~14.8% through 2034), though it remains a smaller market compared to conventional meat products [4].

In summary, the global meat market by 2034 will be led by Asia and developing countries, seeing approximately 13% growth in production with pig, poultry, and beef as key sources. Processed meat products and modern retail channels (supermarkets, e-commerce) will dominate, reflecting changing consumer preferences toward convenience and ready meals [1][2][3][5].

Notable developments in the market include Danish Crown's commitment to carbon-neutral pork production and the launch of a new "Climate-Controlled Pork" line [6]. Companies in the meat products market are innovating with cleaner labels and eco-friendly practices to meet consumer demand for sustainable and organic products [6]. Conagra has expanded its meat snacks portfolio with high-protein, low-sodium options and plant-based meat alternatives [7]. Boar's Head has expanded its premium deli meat line with new antibiotic-free and organic options [8].

The Global Meat Products Market is projected to reach USD 107.5 billion by 2034, growing at a CAGR of 8.2% from 2025 to 2034 [9]. The shift toward organic and sustainable meat products fosters investments in eco-friendly practices, and the growth of the Meat Products Market significantly impacts the global economy, boosting the agricultural and industrial sectors [10]. In 2024, Poultry accounted for over 43.1% of the meat products market share by source, and North America commands a substantial 47.8% share in the global meat products market, valued at approximately USD 23.3 billion [2][4].

References:

1. Global Meat Production to See 13% Growth by 2034
2. Meat Products Market Growth, Trends, and Forecast 2021-2031
3. Processed Meat Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2020 - 2027
4. Vegan Steak Market to Reach $1.4 Billion by 2034
5. FAO & OECD: Global Animal-Source Food Consumption to Rise by 24% by 2034
6. Danish Crown Launches Carbon-Neutral Pork Line
7. Conagra Expands Meat Snacks Portfolio
8. Boar's Head Expands Premium Deli Meat Line
9. Global Meat Products Market to Reach USD 107.5 Billion by 2034
10. Meat Products Market: Global Industry Trend Analysis 2012-2017 and Forecast 2018-2028

In this evolving global market, the focus shifts from the meat market's traditional growth trajectory to an increased emphasis on processed meat products and modern retail channels, such as supermarkets and e-commerce platforms, which cater to the changing consumer preferences for convenience and ready meals [1][2][3]. Meanwhile, the alternative protein segment, including the vegan steak market, is expanding rapidly as consumers seek sustainable and organic food options [4].

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