The global frozen meat products market size was valued at USD 167.9 billion in 2022 and is expected to expand at a CAGR of 6.2% from 2023 to 2030. The increasing demand for convenience and ready-to-eat food is fuelling the growth of the market. The growing popularity of frozen meat products such as ready-to-cook, pre-cooked, and pre-marinated meat products, coupled with the expansion of retail frozen meat products, is expected to drive the growth of the market. Furthermore, the high shelf-life of frozen meat products is another key factor propelling the market growth.

The frozen beef segment is expected to witness the highest CAGR during the forecast period, owing to the increasing demand for beef products such as burgers, sausages, and steak. The large-scale production of frozen beef is attributed to the high demand for these products, especially in the North American and European regions. Additionally, the increasing demand for processed and ready-to-eat meat products is driving the growth of the segment.

The retail segment is expected to witness the highest CAGR from 2023 to 2030, owing to the increasing demand for ready-to-eat and frozen meat products from customers. The availability of a variety of frozen meat products in supermarkets, hypermarkets, and grocery stores is driving the growth of the segment. Furthermore, the convenience of shopping for frozen meat products from retail stores is fuelling the growth of the segment.

The Asia-Pacific region is expected to witness the highest CAGR from 2023 to 2030, owing to the increasing demand for convenience food products from consumers. Additionally, the rising disposable income of consumers in developing countries such as China and India is supporting the growth of the market. The growing health awareness and the increasing demand for healthy and natural food products are also driving the growth of the frozen meat products market in the region.

The frozen beef segment held the largest market share in 2020 and is projected to remain dominant during the forecast period. This can be attributed to the rising consumption of frozen beef products, such as hamburgers, steaks, and nuggets, owing to their convenience and longer shelf life. In addition, the growing popularity of frozen beef products as an affordable source of protein has been driving the market. According to an article published by the University of California, in November 2019, 21% of millennials prefer frozen beef due to its convenience, texture, and taste.

The frozen pork segment is projected to witness the fastest growth over the forecast period. This can be attributed to the rising demand for processed meat products, such as sausages and hot dogs. In addition, the growing popularity of frozen pork products, such as bacon and ham, as an affordable source of protein is bolstering the market growth. Furthermore, the increasing application of frozen pork products in the food service sector is driving the market. According to an article published by the US Department of Agriculture, in April 2020, the demand for frozen pork products in the food service sector is expected to grow in the coming years.

The supermarkets and hypermarkets segment is expected to lead the frozen meat products market during the forecast period. The growth of this segment is mainly driven by the availability of frozen meats in the large retail stores such as supermarkets and hypermarkets. Additionally, the presence of frozen meat products in large retail stores enables consumers to compare prices, quality, and brand before making a purchase decision.

The online segment is expected to expand at the highest CAGR of 8.2% over the forecast period. The growth of the segment is driven by the growing preference of consumers towards online grocery shopping. E-commerce players allow consumers to buy frozen meat products from the comfort of their homes and deliver it to their doorsteps. Moreover, online platforms provide discounts and offers that attract more customers. For instance, in August 2020, Walmart Inc. launched its online platform for selling frozen meat products in the U.S. The platform offers various discounts and deals to customers.

The processed frozen meat segment accounted for the largest revenue share of 65.3% in the year 2022. The high demand for processed frozen meat can be attributed to its convenience, longer shelf life, and low cost. Furthermore, the increasing preference for ready-to-eat meals among consumers, especially working professionals, is driving the demand for processed frozen meat products. For instance, in April 2021, Tyson Foods, Inc. launched a new line of plant-based frozen breakfast products, such as sausages and sandwiches, in the U.S. market.

The unprocessed frozen meat segment is anticipated to exhibit a CAGR of 6.8% over the forecast period. The rising demand for unprocessed frozen meat, such as beef, lamb, and pork, is attributed to the increasing health awareness among consumers. Furthermore, the increasing number of health-conscious individuals who prefer organic and locally-sourced frozen meat products is propelling the demand for unprocessed frozen meat. For instance, in February 2021, the U.S.-based organic food retailer Whole Foods Market, Inc. launched a wide range of organic frozen beef and lamb products.

Europe accounted for the largest share of the frozen meat market in 2022 and is expected to remain the largest market during the forecast period. This is mainly due to the widespread acceptance of frozen meat products in the region. Additionally, the presence of key frozen meat manufacturers in the region is also aiding the market growth. For instance, in March 2021, Dutch-based meat producer Vion Food Group invested €2 million in its new frozen meat production facility in the Netherlands.

Asia Pacific is expected to witness the fastest growth in the coming years. The increasing consumption of processed meat products in the region is driving the growth of the market. Additionally, the rising disposable income of consumers and changing lifestyle are also contributing to the growth of the frozen meat market in the region. For instance, in April 2021, South Korea-based meat processor Seoul Mart opened a new facility to produce frozen meat products.

In this part of the frozen meat products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your frozen meat products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a frozen meat products business comes from sales of products, delivery fees, and other services. Here you will find a list with a description of each of them and other possible sources of profit such as wholesaling, catering, private labeling, and collaboration with restaurants and catering companies.

Projecting Expenses
In this section, all the regular expenses related to keeping the frozen meat products business running will be described. The list of operating expenses includes raw material costs, packaging and labeling costs, overhead costs, marketing expenses, salaries and wages, and other operating costs such as taxes, insurance, and rent.

Some of the key companies operating in the frozen meat products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Cargill Inc. launched a new range of frozen chicken products in the US market.

– In August 2022, Tyson Foods Inc. launched a range of frozen beef products in the Asian market.

– In October 2022, ConAgra Foods Inc. launched a range of frozen pork products in the European market.

Some of the prominent players in the frozen meat products market include:

– Cargill Inc.
– Tyson Foods Inc.
– ConAgra Foods Inc.
– BRF SA
– Grupo Bimbo SA
– JBS SA
– Smithfield Foods Inc.
– Pilgrim’s Pride Corporation
– Hormel Foods Corporation
– Kerry Group plc

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global frozen meat products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Beef
– Poultry
– Pork
– Processed Meat
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Fresh
– Frozen

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Size of the Global Frozen Meat Products Market?
[A]: The global frozen meat products market size is projected to reach USD 234.6 billion by 2026, exhibiting a CAGR of 3.4% during the forecast period.

[Q]: What are the Factors Driving the Growth of the Market?
[A]: Factors such as increasing demand for convenient and easy-to-cook food, rising disposable income, and the development of efficient cold storage facilities are driving the growth of the global frozen meat products market.

[Q]: Who are the Key Players in the Frozen Meat Products Market?
[A]: The key players in the global frozen meat products market include Tyson Foods, Inc., Cargill, Inc., Hormel Foods Corporation, OSI Group, LLC, BRF S.A., Smithfield Foods, Inc., JBS S.A., and Marfrig Global Foods S.A.

[Q]: What are the Major Types of Frozen Meat Products?
[A]: The major types of frozen meat products are beef, poultry, pork, and other meats.

[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is an important factor that is expected to drive the frozen meat products market. Companies are increasingly introducing new products with advanced features, such as ready-to-eat, frozen, and pre-cooked products, to meet the changing consumer demands. This has led to an increase in the number of product launches, thereby boosting the growth of the market.