The Global Frozen Meat Market has been experiencing remarkable growth, driven by the increasing demand for convenience foods and the rapid expansion of the fast-food industry. As urban populations seek quick and easy meal options, companies in this market constantly innovate to provide a wide range of convenient frozen meat products.
The Role of Convenience Foods in the Frozen Meat Market
The urban lifestyle has increased demand for convenience foods, pushing the frozen meat market to new heights. Companies have responded by offering pre-cooked, pre-seasoned, and cook-from-frozen meat products to cater to time-strapped consumers. According to the American Frozen Food Institute (AFFI), sales of frozen meals, including seafood and chicken, increased by 21.0% compared to 2019, showcasing the growing demand for frozen and chilled meals across various segments.
Fast-Food Industry Driving the Market Growth
The fast-food industry's rapid growth, especially in emerging markets, has significantly impacted the frozen meat market. Changing lifestyles and increasing disposable incomes have driven the demand for fast and convenient food options, leading food service providers to expand their menus with frozen meat products. With the global consumption of meat witnessing a 1% increase in 2021, companies in the frozen meat market are developing products like pre-formed patties and pre-cooked chicken to cater to the fast-food industry's specific needs.
Recent Developments in the Frozen Meat Market
Numerous market developments have occurred in the frozen meat market, reflecting its dynamic nature. In February 2022, Seara Foods, a leading Brazilian food processing company, launched the Seara Shawata frozen marinated whole chicken to cater to the Middle Eastern and Latin American markets' high demand for poultry products. In November 2021, Préval AG acquired the assets of J&G Foods, a specialty meat provider based in Massachusetts, known for its custom and specialty meat products. Furthermore, in September 2021, Pilgrim's Pride acquired the meat and meal business of the UK-based Kerry Group in a deal worth around $932 million, aiming to enhance its position as a value-added food company.
Market Opportunities and Challenges for the Frozen Meat Market
The frozen meat market presents several opportunities, such as developing innovative products catering to specific consumer segments, like health-conscious individuals or those with dietary restrictions. Expanding into untapped markets and leveraging marketing strategies to change consumer perceptions about frozen meat quality can create new growth avenues. However, the market faces challenges, such as increasing concerns about food safety and competition from plant-based alternatives.
Future of Frozen Meat Market with Recent Developments
The frozen meat market is poised for continued growth, driven by the increasing demand for convenience foods and the expanding fast-food industry. Recent developments in the market showcase the industry's commitment to innovation and strategic acquisitions to cater to consumer preferences and emerging market trends.
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