LONDON, Jan. 06, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the meat products market, Meat processing companies are increasingly using 3D imaging systems to optimize yields. 3D imaging systems model the meat using sensors and actuators to determine the position of cut. The bird is put under the vision system, which takes the images and measurements and geometry is determined. Near-infrared sensors determine the amount of meat and bone present. For instance, in 2020, Smarttech3D, a Europe-based 3D measurement company has launched SMARTTECH3D UNIVERSE 10 Mpix. The hardware allows for a perfect mapping of color and texture, which are incredibly important in meat quality control. Many measurements can be performed on the obtained image, including precise cross-section dimensions (without actually cutting the meat sample) and volume calculations. The scanner used in the project flawlessly registers the texture and color, and SMARTTECH3D measure software allows for the automatic percentage calculation of the meat surface with the same color. The percentage is one of the most important indicators of the meat technological value.
The global meat products market growth is expected to rise from $838.25 billion in 2020 to $867.26 billion in 2023 at a compound annual growth rate (CAGR) of 3.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global meat market size is expected to reach $1.15 trillion in 2025 at a CAGR of 7%.
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The global meat products industry is fairly fragmented with a large number of players in the market. The top ten competitors in the market made up to 12.69% of the total market in 2023. Major players in the market include JBS S.A., Tyson Foods Inc., WH Group, Marfrig Global Foods S.A., Danish Crown and others.
As stated in TBRC’s meat products market research, the industry is segmented by type into pork, mutton, beef and other meat products; by distribution channel into supermarkets/hypermarkets, convenience stores, e-commerce, and others; by product type into chilled, frozen and canned/preserved.
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Increasing penetration of mobile phones and internet has resulted in companies introducing online meat delivery distribution channel. These companies generally operate their own slaughterhouses and also package and ship their products. With increase in demand of cultured meat and plant-based meat products market, online meat delivery companies have included these segments to increase revenue. Some of the companies offering online delivery of meat include ButcherBox, Greensbury Market, Porter Road and Crowd Cow.
Asia Pacific was the largest region in the global meat products market, accounting for 50.8% of the total in 2023. It was followed by North America, Western Europe, and then the other regions. Going forward, the fastest-growing regions will be Africa and South America where growth will be at CAGRs of 9.2% and 9.0% respectively.
Meat Products Market Global Report 2022: Market Size, Trends, And Global Forecast 2023 – 2026 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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