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The global Meat Market is projected to reach $1,345.9 billion by 2029, growing at a CAGR of 5.7% from 2022 to 2029. In terms of volume, the market is expected to hit 412.2 million tons cwe by 2029, expanding at a CAGR of 1.8% during the forecast period. Key factors driving this growth include the rising demand for animal-based foods, the increasing preference for protein-rich diets, and the growing popularity of functional meat products. Additionally, the heightened awareness of organic processed meat and the rising demand for gluten-free products present lucrative growth opportunities for stakeholders. However, the carcinogenic risks associated with processed meat and the growing popularity of meat alternatives pose challenges to the market’s expansion.
Leading Companies in the Meat Market
Cargill, Incorporated (U.S.)
Founded in 1865 and headquartered in Minneapolis, U.S., Cargill provides services across food, agriculture, industry, and finance. It operates through five segments: Food Ingredients & Bio-Industrial, Animal Nutrition, Protein & Salt, Agricultural Supply Chain, and Metals & Shipping. Cargill supplies meat and poultry products to food producers, retailers, and food service providers worldwide. Notably, in 2013, Cargill invested $10 million to upgrade its poultry processing facility in Saraburi, Thailand. The company has a presence in over 125 countries and employs around 155,000 people as of December 2021.
Tyson Foods, Inc. (U.S.)
Tyson Foods, founded in 1935 and headquartered in Springdale, U.S., is a major producer of processed foods. The company operates through four segments: Chicken, Beef, Pork, and Prepared Foods. Tyson processes live chickens, cattle, and hogs into various fresh and frozen products and offers prepared foods through its broad distribution network, reaching over 145 countries. As of October 2020, Tyson employed 139,000 people worldwide.
JBS S.A. (Brazil)
Founded in 1953 and headquartered in São Paulo, Brazil, JBS is one of the largest animal protein processors globally. The company operates in six segments: Beef, Poultry, Pork, Leather, Swift, and Other Related Businesses. With over 450 production units across 20 countries, JBS has a significant presence in the Americas, Europe, Asia, Africa, and Oceania, employing around 250,000 people globally.
Hormel Foods Corporation (U.S.)
Established in 1891 and headquartered in Austin, Minnesota, U.S., Hormel Foods is a Fortune 500 company specializing in meat production and distribution. It operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. Hormel has a presence in more than 80 countries and employs over 20,000 people as of October 2021.
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American Foods Group, LLC (U.S.)
Founded in 1946 and headquartered in Green Bay, Wisconsin, American Foods Group is part of Rosen’s Diversified Inc. The company specializes in beef production, offering fresh, ground, and specialty beef to food service, retail, and international markets. With a distribution network spanning over 40 countries, American Foods employs more than 4,500 people globally.
Koch Foods, Inc. (U.S.)
Founded in 1985 and based in Illinois, Koch Foods is involved in poultry production and processing. The company offers fresh and frozen chicken products and serves food service, industrial, retail, and export markets. Koch Foods operates primarily in North America, employing over 13,000 people as of 2021.
Smithfield Foods, Inc. (U.S.)
Established in 1936 and headquartered in Virginia, U.S., Smithfield Foods is a leading pork producer, operating across 3,221 contract pig farms and offering fresh and value-added pork products. The company operates globally, with a significant presence in North America, Europe, and Asia-Pacific, employing over 59,000 people as of 2020.
National Beef Packing Company, LLC (U.S.)
Founded in 1992 and headquartered in Kansas City, Missouri, National Beef Packing is involved in animal slaughtering, processing, and packaging. The company produces a wide range of beef products and has partnered with over 1,800 cattle suppliers across the U.S. National Beef has a strong presence in North America, with exports to other global markets.
Perdue Farms Inc. (U.S.)
Founded in 1920 and headquartered in Salisbury, Maryland, U.S., Perdue Farms focuses on poultry and meat production. The company operates in two segments: Retail and Food Service, offering a range of poultry products to various foodservice sectors. Perdue has a significant presence in the U.S. and exports to over 30 countries.
Allanasons Private Limited (India)
Founded in 1965 and headquartered in Mumbai, India, Allanasons is involved in the production of processed food and agro-commodities. It operates in eight segments, including proteins, FMCG, and fruits & vegetables. Allanasons is a leading exporter of buffalo meat and halal products, serving over 85 countries globally.
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