The global frozen meat market size was valued at USD 73.3 billion in 2018 and is anticipated to expand at a CAGR of 4.4% from 2019 to 2025. The growth of the market is attributed to change in lifestyle and food preferences, seasonality, and increase in adoption of ready to eat food. Technological advancements to increase the shelf life of frozen products and continuous efforts to provide the best quality products, especially meat items, are accelerating the growth of this market.
Certain meat products are only available in particular seasons. To fulfill the demand for meat products and overcome the issue of seasonality, manufacturers are focusing on introducing various types of frozen items in this category. Change in lifestyle of people across the globe and increase in demand for ready to eat food are the prime factors driving the market globally. Growing working population, increasing per capita income in developing economies, and rising demand for frozen food products are anticipated to accelerate the growth of this market over the forecast period.
The global frozen meat market size was valued at USD 73.3 billion in 2018 and is anticipated to expand at a CAGR of 4.4% from 2019 to 2025. The growth of the market is attributed to change in lifestyle and food preferences, seasonality, and increase in adoption of ready to eat food. Technological advancements to increase the shelf life of frozen products and continuous efforts to provide the best quality products, especially meat items, are accelerating the growth of this market.
Certain meat products are only available in particular seasons. To fulfill the demand for meat products and overcome the issue of seasonality, manufacturers are focusing on introducing various types of frozen items in this category. Change in lifestyle of people across the globe and increase in demand for ready to eat food are the prime factors driving the market globally. Growing working population, increasing per capita income in developing economies, and rising demand for frozen food products are anticipated to accelerate the growth of this market over the forecast period.
Regional Insights
Asia Pacific was the largest regional market, accounting for a share of more than 30.0% in 2018 owing to high consumption in this region. Countries like China and Japan were the highest importers of frozen meat products. Asia Pacific is expected to expand at the highest CAGR from 2019 to 2025. Increase in the number of food joints and restaurants, rising e-commerce, and seasonality in this region are expected to boost the regional market growth.
Among various meat categories, China mostly imports pork that includes frozen pork cuts, frozen hams, and shoulders and cuts. Increasing spending on meat products including frozen meat is expected to increase demand for frozen meat over the forecast period. Increasing popularity of healthy products among Chinese consumers is projected to increase demand for frozen meat from 2019 to 2024. Young consumers, especially aged 20 to 35 years, eat healthy meat products once a week. Dumpling is the most consumed product, especially in urban areas. Consumers in the above-mentioned age group also buy frozen meat from online retailers. For instance, 64% of the population in China was in the 16-59 years age group in 2017, which presents growth prospect for the online.
