Global Meat, Poultry, and Seafood Market Overview

The global meat, poultry, and seafood market was valued at USD 1,277.1 billion in 2021 and is forecasted to reach USD 1,601.2 billion by 2030, growing at a compound annual growth rate (CAGR) of 2.5% from 2022 to 2030. Consumption of meat, seafood, and poultry remains widespread and continues to rise, particularly with population growth in developing economies like India and China.

According to a 2020 report by the Organization for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO), China was the world’s largest meat producer, with 77.9 million tons in 2020, followed by the U.S. with 48.7 million tons. These factors are expected to support the market’s future expansion.

The COVID-19 pandemic disrupted the supply chain, leading to increased prices for poultry, meat, and seafood products and triggering a global socio-economic crisis. Initially, prices rose due to reduced production and panic buying, but later both production and demand declined significantly due to lockdowns and reduced consumer purchasing power. Labor shortages, transport restrictions, and changes in export regulations further impacted the industry negatively.

Changing lifestyles, with a preference for on-the-go meals and snack replacements, have driven demand for ready-to-eat and processed meat products. Increasing consumer awareness about protein benefits and branding by major manufacturers is positively influencing the perception of meat, poultry, and seafood as healthier protein sources compared to vegetarian diets.

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The rise of home delivery models is another key growth driver, expected to transform the market during the forecast period. Many supermarkets and companies are partnering with e-commerce platforms or launching their own online delivery services. For example, Licious, an India-based fresh meat and seafood startup, raised USD 52 million in October 2021 and achieved unicorn status after a 500% growth in 2020.

Growing popularity of seafood products like salmon, prized for omega-3 fatty acids and high protein with low fat content, is fueling market growth. Increased demand for farm-raised seafood reflects shifting preferences towards sustainable farming practices and environmental benefits. For instance, in August 2020, Mowi, a Norway-based salmon farming giant, expanded its portfolio by acquiring a U.S.-focused seafood brand.

Market growth is further supported by product launches, marketing campaigns, and mergers and acquisitions. The American Frozen Food Institute (AFFI) reported a 19.1% increase in frozen seafood sales in Q1 2020 compared to the same period in 2019, indicating rising consumer interest.

Key Market Trends & Insights

• Asia Pacific held the largest market share by value in 2021 and is expected to be the fastest-growing region through the forecast period. The region benefits from rising per capita income and growing demand for seafood like salmon, alongside meat and poultry. Rapid industrialization and trade growth in countries such as India, China, Indonesia, the Philippines, and Thailand, combined with increasing living standards and population, are driving demand for natural meat, poultry, and seafood products.
• Europe ranked as the second-largest regional market in 2021, led by the U.K., France, Germany, and Spain. Demand is anticipated to increase with new product launches and greater awareness of organic offerings. Shifting diet preferences in countries like Luxembourg, the Netherlands, and Belgium are also expected to stimulate demand.
• By product, the meat segment dominated the market in 2021. A report by the Agriculture and Horticulture Development Board (October 2021) highlighted a 12% increase in meat consumption volume in 2020 compared to 2019, driven partly by the pandemic. Consumers are increasingly choosing meat products such as beef and pork for their nutritional benefits and meal variety.
• By type, the conventional segment had a larger market share in 2021, attributed to the broad availability of products. According to Sentient Media (March 2021), meat and seafood consumption in the U.S. is rising, with an average annual meat consumption of around 274 pounds per person. Major retailers acquiring conventional suppliers is expected to boost future growth.
• By form, the frozen segment led the market during the forecast period. Frozen meat, poultry, and seafood are popular grocery items due to their longer shelf life. Continuous product innovations in this category are further driving growth. For example, in February 2022, Seara-food brand launched a range of marinated frozen chicken products featuring local flavors at Gulfood 2022.

Market Size & Forecast

• 2021 Market Size: USD 1,277.1 Billion
• 2030 Projected Market Size: USD 1,601.2 Billion
• CAGR (2022-2030): 2.5%
• Asia Pacific: Largest market in 2021

Key Companies & Market Share Insights

Given the significant growth opportunities, the global meat, poultry, and seafood market is expected to become increasingly competitive. Companies are leveraging mergers and acquisitions to expand domestically and globally.

• In December 2021, Organic Prairie introduced USDA organic certified seasoned ground beef, raised without synthetic pesticides, antibiotics, or hormones.
• In August 2021, Frozen Fish Direct launched a new e-commerce platform offering 200 varieties of fresh seafood.
• In March 2021, U.K.-based Young’s Seafood released a new line of fish fillet strips at Tesco stores, available in southern fried, crispy battered, and salt and vinegar flavors.

Leading market players include:

• Conagra Brands, Inc.
• Hormel Foods, LLC
• Tyson Foods
• Cremonini Group
• Sanderson Farms
• J.M. Smucker
• Cargill, Inc.
• Beijing Aosiyun Meat Foodstuff
• NH Foods Ltd.
• Baiada Pty. Ltd.

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Conclusion

The global meat, poultry, and seafood market is poised for steady growth through 2030, driven by rising population and income levels, especially in the Asia Pacific region. Despite the disruptions caused by the COVID-19 pandemic, changing consumer lifestyles, increasing health consciousness, and innovations in product offerings and delivery models are fueling demand. Growth in processed and ready-to-eat products, along with greater consumer awareness of the nutritional benefits of animal proteins, further supports market expansion.

Sustainability trends and preference for farm-raised seafood are also shaping the market, encouraging investment and innovation. Meanwhile, competitive dynamics are intensifying as companies pursue strategic partnerships, product launches, and acquisitions to capture market share. Overall, the meat, poultry, and seafood market is expected to remain resilient and grow steadily, adapting to evolving consumer needs and global challenges.