Market Size of asia-pacific edible meat Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 670.26 Billion |
|
|
Market Size (2029) | USD 728.75 Billion |
|
Largest Share by Type | Pork |
|
|
CAGR (2024 - 2029) | 1.69 % |
|
Largest Share by Country | China |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Edible Meat Market Analysis
The Asia-Pacific Edible Meat Market size is estimated at 670.26 billion USD in 2024, and is expected to reach 728.75 billion USD by 2029, growing at a CAGR of 1.69% during the forecast period (2024-2029).
670.26 Billion
Market Size in 2024 (USD)
728.75 Billion
Market Size in 2029 (USD)
2.53 %
CAGR (2017-2023)
1.69 %
CAGR (2024-2029)
Largest Segment by Type
39.34 %
value share, Pork, 2023
Pork has become the primary protein choice in the region and emerged as the default meat type in the base year owing to its popularity and changing consumer preferences.
Largest Segment by Country
50.67 %
value share, China, 2023
The high availability and growing population are the major factors driving the demand for meat products in China, making the country’s meat per capita consumption the highest.
Fastest-growing Segment by Type
2.11 %
Projected CAGR, Pork, 2024-2029
Rising incomes, a growing population, and increasing urbanization are the major factors contributing to the growth in pork production and consumption in the region.
Fastest-growing Segment by Country
2.23 %
Projected CAGR, India, 2024-2029
The growing middle-income population, shifting diets toward protein-rich foods, and increasing preference for poultry meat are boosting meat consumption in India
Leading Market Player
1.53 %
market share, WH Group Limited, 2022
The company has several well-known household brands with a wide portfolio fresh, frozen and processed meat products, along with owning many subsidiaries in the region.
Increase in pork production and lower poultry prices fueling the demand
- The Asia-Pacific red meat segment was majorly led by pork meat throughout the study period, with 13% more market value share than poultry meat, which was the second most consumed type of meat in 2022. Pork meat is also anticipated to be the fastest-growing meat type during the forecast period (2023-2029), registering a CAGR value of 2.12%. This can be mainly supported by its growing production rate. It was the most produced meat type in the region, with a hike of 24.3% in domestic production from 2021 to 2022, as the governments are investing in the advancement of the production technologies of pork meat and pig farming.
- However, China generates the largest sales within the region due to high demand and is the largest producer of pork, producing around 53.9 million metric tons in 2022. The overall revenue per person for the APAC region was calculated at USD 117.50 in 2023, which is increasing the sales value.
- Mutton is likely to witness a high-growing CAGR value of 1.35% during the forecast period (2023-2029). Due to consumer preference for grass-fed meat, which reduces carbon footprint while being sustainable, the demand for mutton is rising. The food service industry is where most people get their mutton due to the work-from-home trend, which is becoming a new normal and driving the demand for processed and frozen forms majorly. For instance, in Asia-Pacific, around 50-60% of the population is working in a hybrid model.
- Poultry meat also accounted for a significant share in the market, which is projected to register a CAGR value of 1.37% during the forecast period (2023-2029) because of the high availability of chicken in the region and the affordable prices, which are around 30-40% lower than red meat prices, driving the market positively.
Understand The Key Trends Shaping This Market
China is the largest consumer of edible meat in the region
- The edible meat market in Asia-Pacific was anticipated to register a positive CAGR of 2.50% during 2017-2022. The influence of highly pathogenic avian influenza (HPAI) in the major countries in the region, such as China, Vietnam, and South Korea, slightly impacted the segmental growth. In December 2022, the recurrence of HPAI subtype H5N1 started in Hong Kong (Yuen Long). Since October 2022, more than 14.6 million Japanese poultry have been directly impacted by HPAI outbreaks linked to the H5N1 virus serotype. In Taiwan, 20 outbreaks directly impacted more than 325,700 commercial birds in 2022.
- China is a major meat-consuming country and is expected to hold a larger market share during the forecast period. The sales of edible meat in the country increased by 2.25% in 2022 compared to the previous year. China consumes 28% of the world’s meat, and it also consumes around half of all pork in the world. The high availability and growing population are the major factors driving the demand for meat products in China. Pork was the most widely consumed meat type in China and accounted for 50.07% of the total edible meat in China in 2022.
- India is anticipated to be the fastest-growing country in the forecast period, registering a CAGR of 2.24% on a value basis. In India, poultry meat was the most consumed meat as of 2022. Around 70% of the Indian population is non-vegetarian. The total meat production in the country was around 9.29 million tons during 2021-2022, with an annual growth rate of 5.62% by volume. India has an abundant supply of meat, and the meat processing industry in the country is anticipated to grow during the forecast period.
Asia-Pacific Edible Meat Industry Segmentation
Beef, Mutton, Pork, Poultry are covered as segments by Type. Canned, Fresh / Chilled, Frozen, Processed are covered as segments by Form. Off-Trade, On-Trade are covered as segments by Distribution Channel. Australia, China, India, Indonesia, Japan, Malaysia, South Korea are covered as segments by Country.
- The Asia-Pacific red meat segment was majorly led by pork meat throughout the study period, with 13% more market value share than poultry meat, which was the second most consumed type of meat in 2022. Pork meat is also anticipated to be the fastest-growing meat type during the forecast period (2023-2029), registering a CAGR value of 2.12%. This can be mainly supported by its growing production rate. It was the most produced meat type in the region, with a hike of 24.3% in domestic production from 2021 to 2022, as the governments are investing in the advancement of the production technologies of pork meat and pig farming.
- However, China generates the largest sales within the region due to high demand and is the largest producer of pork, producing around 53.9 million metric tons in 2022. The overall revenue per person for the APAC region was calculated at USD 117.50 in 2023, which is increasing the sales value.
- Mutton is likely to witness a high-growing CAGR value of 1.35% during the forecast period (2023-2029). Due to consumer preference for grass-fed meat, which reduces carbon footprint while being sustainable, the demand for mutton is rising. The food service industry is where most people get their mutton due to the work-from-home trend, which is becoming a new normal and driving the demand for processed and frozen forms majorly. For instance, in Asia-Pacific, around 50-60% of the population is working in a hybrid model.
- Poultry meat also accounted for a significant share in the market, which is projected to register a CAGR value of 1.37% during the forecast period (2023-2029) because of the high availability of chicken in the region and the affordable prices, which are around 30-40% lower than red meat prices, driving the market positively.
| Type | |
| Beef | |
| Mutton | |
| Pork | |
| Poultry | |
| Other Meat |
| Form | |
| Canned | |
| Fresh / Chilled | |
| Frozen | |
| Processed |
| Distribution Channel | ||||||
| ||||||
| On-Trade |
| Country | |
| Australia | |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| South Korea | |
| Rest of Asia-Pacific |
Need A Different Region Or Segment?
Asia-Pacific Edible Meat Market Size Summary
The Asia-Pacific edible meat market is experiencing a steady growth trajectory, driven by increasing demand for various types of meat across the region. Pork dominates the red meat segment, supported by significant production advancements and government investments in pig farming technologies. China stands out as the largest consumer and producer of pork, significantly influencing the market dynamics. The demand for mutton is also on the rise, fueled by consumer preferences for sustainable, grass-fed options, particularly in the food service industry. Poultry meat remains a significant market player due to its affordability and high availability, further bolstering the region's meat consumption patterns.
The market landscape is characterized by a fragmented structure with major players like COFCO Corporation, NH Foods Ltd, Tyson Foods Inc., Vion Group, and WH Group Limited holding a modest share. The region's beef production is notably led by China, India, and Australia, with Australia being a key exporter of premium beef. The market is also influenced by geopolitical conditions, supply-demand imbalances, and fluctuating beef prices, which have seen recent stabilization. The ongoing expansion efforts by companies such as Tyson Foods and Tonnies Holding in China and Thailand highlight the region's strategic importance in the global meat industry.
Asia-Pacific Edible Meat Market Size - Table of Contents
-
1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
-
1.1 Type
-
1.1.1 Beef
-
1.1.2 Mutton
-
1.1.3 Pork
-
1.1.4 Poultry
-
1.1.5 Other Meat
-
-
1.2 Form
-
1.2.1 Canned
-
1.2.2 Fresh / Chilled
-
1.2.3 Frozen
-
1.2.4 Processed
-
-
1.3 Distribution Channel
-
1.3.1 Off-Trade
-
1.3.1.1 Convenience Stores
-
1.3.1.2 Online Channel
-
1.3.1.3 Supermarkets and Hypermarkets
-
1.3.1.4 Others
-
-
1.3.2 On-Trade
-
-
1.4 Country
-
1.4.1 Australia
-
1.4.2 China
-
1.4.3 India
-
1.4.4 Indonesia
-
1.4.5 Japan
-
1.4.6 Malaysia
-
1.4.7 South Korea
-
1.4.8 Rest of Asia-Pacific
-
-
Asia-Pacific Edible Meat Market Size FAQs
How big is the Asia-Pacific Edible Meat Market?
The Asia-Pacific Edible Meat Market size is expected to reach USD 670.26 billion in 2024 and grow at a CAGR of 1.69% to reach USD 728.75 billion by 2029.
What is the current Asia-Pacific Edible Meat Market size?
In 2024, the Asia-Pacific Edible Meat Market size is expected to reach USD 670.26 billion.
