The global frozenmeat market depicts the presence of a highly fragmented andcompetitive vendor landscape, says Transparency Market Research on the basis ofa recently published report. Such a vigorous competitive spirit is majorlypresent due to innumerable players operating in this sector. Most of thebusinesses have good connections with service companies and food chains, thusmaintaining a consistent and dedicated demand of the product. Companies areadopting aggressive marketing strategies to enhance their brand name; followingwhich participating in mergers and acquisitions has led towards improvement intheir network.
VerdeFarms, Marfrig Group., BRF S.A., Kerry Group Plc., Pilgrim’s Pride Corporation,Tyson Foods, Inc., LLC, Associated British Foods Plc., and Arcadian Organic &Natural Meat Co., are key players operating in the global frozen meat market.Many players are tying up with cold storage services to sustain their positionin the market. Key businesses operating in the global frozen meat market areinvesting substantial amount of money to enhance production techniques bycarrying out extensive research and innovation. Lastly, owing to suchinnovative production methods introduced, several players are aiming towardsincreasing product yield, production capacity, and regulating product costs.
Accordingto experts from Transparency Market Research, the global frozen meat market isexpected to fetch revenue worth US$30.0 bn by the end of 2026. This growth isprojected to occur at a steady CAGR of 3.4% during the forecast period from2017 to 2026.
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Changesin Lifestyles Lead to Rise in Demand of Frozen Meat
Widespreadadvancements associated with freezing techniques to lengthen the lifespan ofmeat products and improve their quality are primarily driving growth in theglobal frozen meat market. Eating habits are rapidly changing all over theglobe, and many now prefer ready-to-eat meat products and foods. A fast-pacedliving standard, surge in online food orders, and availability of less time tocook using freshly bought meet, are three lifestyle changes, which are makingthe global frozen foods market grow extensively.
With fooddelivery services becoming more efficiency and cheaper, the frozen meat marketis expected to witness an augmented growth in the near future. Sometimes,restaurants and foodservice chains might face a shortage of fresh meat, andthis could hamper their sales greatly. However, this situation can be reversedby storing frozen meat and utilizing as per requirement. Thus, as utilizingfrozen meat proves extremely beneficial for restaurants and other food joints,the global frozen meat market is expected to witness a handsome growth.
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Costly Frozen Meat ProcessingMethods Hamper’s Growth
However,processing frozen meat often proves to be costly, which can further translateinto expensive foods for the end user. Such costs could notably discouragepotential customers, making them consider other options. In this way, highexpenditures required for processing of frozen meat is greatly hampering theglobal frozen meat market. Moreover, shortage of frozen meat in less developedregions too is posing as an obstacle to the market’ growth, from a geographicalperspective. Nevertheless, many businesses are introducing cost-effectiveprocessing techniques, which could offset most restraints affecting the globalfrozen meat market.
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The food andbeverages sector has cemented its place among the global populace firmly overthe years. This sector attracts considerable investments and subsidies fromnumerous government and non-government organizations. The trends and popularityregarding specific sub-categories are dynamic and help in structuring theoverall growth. The trends are a way of answering the needs of the consumer.The players in the food and beverages sector have to adapt to the changingtrends, which helps increase revenue-generation opportunities.
The world hasundergone a major shift in the way of living since the COVID-19 pandemicstruck. A notable change in the functioning of various businesses and sectorshas influenced their working mechanisms extensively. The food and beveragesector is no stranger to this change. Transparency Market Research (TMR) hasstudied many aspects concerning the difference between the trends in thepre-pandemic and post-pandemic world across the food and beverage industry.
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