Continuously rising population and the variety of value-added nutrients within the products offered by the meat manufacturers are driving the United States meat market during the forecast period.
According to TechSci Research report, “United States Meat Market By Product (Chicken, Beef, Pork, Mutton, and Others (Birds, Turkey, Venison, etc.)), By Type (Raw and Processed), By Distribution Channels (Departmental Stores, Specialty Stores, Hypermarket/ Supermarket, Online Sales Channel and Others (Direct Sellers, General Merchandised Retailers, etc.)), By Region, By States, Competition Forecast & Opportunities, 2026”, the United States meat market is growing at approximately USD260 billion in the year 2020 and it is anticipated to reach over USD300 billion by the end of 2026, with a CAGR of more than 2.83% during the forecast period on account of the rising popularity of meat products and increasing disposable income.
Meat has consistently been viewed as an exceptional item for the United States market as utilization of meat enjoys different benefit, for example, they are the acceptable source of protein which is significant for the development and improvement of human body. United States is not just the largest consumer of meat product, but also the major producer and exporter of meat especially beef. In the year 2019, the export of beef and beef variety meat amounted to 1.32 million metric tons worth USD8.1 billion which is 14.1% of United States beef and variety meat production.
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The COVID-19 pandemic has wreaked havoc on the meat industry in several ways. For example, disrupted supply chain, individual safeguards, temporary closures of full-service restaurants and bars, and drop in exports resulted in a decline in the demand of meat products. Due to a significant increase of COVID cases in the United States, some meat processing plants were compelled to close for the safety of their employees. Following the reopening of the meat industry, there was a significant drop in the demand for meat products since many restaurants and bars remained closed. However, during the lockdown, the market’s development was driven by either internet services or food retail shops.
The US meat market is bifurcated into product, type, distribution channel, region, states, and company. In terms of product segments, the United States meat market is divided into chicken, beef, pork, mutton, and others which include birds, turkey, venison, etc. Among them, the Chicken category has dominated the US meat market in the year 2020, and it is expected to continue its dominance during the forecast period because of numerous factors such as, it is a very affordable and healthy food source.
The beef segment in the US meat market is the fastest growing segment as the consumption of beef is increasing across the country. The consumption of meat has been fluctuating throughout the time. In the year 2008, the consumption of meat was at peak with approximately 28.1 billion pounds. Later on, in 2014 and 2015, the consumption of meat fell with 24.7 and 24.8 billion pounds, respectively. However, after 2019, the consumption of meat began rising again with approximately 27.3 billion pounds.
Even bacon and other pig products are extremely popular in the United States. Pig consumption per capita was approximately 51 pounds in 2020. As per the Continuing Survey of Food Intakes by Individuals (CSFII), the pork consumption is highest in the Midwest region with the consumption of 58 pounds per person, followed by the Southern region.
In terms of States, the popular states in the US meat market are California, Texas, Florida, New York, Georgia, Pennsylvania, Illinois, Ohio, North Carolina, Michigan and others. Among which, California from southern region is projected to hold the largest market share in the United States meat market by 2026, owing to the existence of key players in the region, as well as a large customer base for the meat market.
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TYSON FOODS, INC., JBS USA Holdings, Inc., Cargill Meat Solutions Corp., Smithfield Foods Inc., SYSCO CORPORATION, Hormel Foods Corporation, Perdue Farms, Inc., OSI Group, MARFRIG UNITED STATES FOODS S.A. (National Beef Packing Company LLC), and Sanderson Farms, Inc. are some of the leading players operating in the United States meat market. These companies hold a wide variety of product portfolios for meat lovers either in the processed form or in the marinated one. This is the major reason because of which these companies are dominating the United States meat market.
The US meat market is a broader market as the consumption pattern of the States is mainly driven by these meat products. It has been analyzed by the USDA that the consumption of chicken products has tremendously increased from the historic period of 1910 by 540% in the year 2020. In 2018, the average per capita weight increased from 10.1 pounds to 65.2 pounds. Poultry consumption has more than tripled since 1961. Moreover, post COVID-19 the demand for consumption of protein rich products has tremendously increased, which act as some of the other factors to positively influence the growth of the market through 2026.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“United States Meat Market By Product (Chicken, Beef, Pork, Mutton, and Others (Birds, Turkey, Venison, etc.)), By Type (Raw and Processed), By Distribution Channels (Departmental Stores, Specialty Stores, Hypermarket/ Supermarket, Online Sales Channel and Others (Direct Sellers, General Merchandised Retailers, etc.)), By Region, By Top States, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of the US meat market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States meat market.
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