Livestock & Meat Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 487.46 Billion |
| Market Size (2029) | USD 637.70 Billion |
| CAGR (2024 - 2029) | 5.52 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Livestock & Meat Market Analysis
The Livestock and Meat Market size is estimated at USD 487.46 billion in 2024, and is expected to reach USD 637.70 billion by 2029, growing at a CAGR of 5.52% during the forecast period (2024-2029).
The limited availability of land and water resources for animal feed production and the increasing use of these resources for food are boosting the demand for animal feed in the overall meat industry. Countries such as India, China, Brazil, and Russia are among the world's fastest-growing economies. A rise in per capita income is expected to shift dietary preferences toward protein-rich diets.
However, meat consumption patterns are expected to remain significantly different in various parts of the world because of cultural, religious, and other consumer preference factors in different countries.
Globally, increasing population trends also support the growth of the world's meat and seafood market. The highest growth in meat consumption is expected from the Asia-Pacific and Latin American regions due to changing diet patterns, higher protein intake, urbanization, population, and economic growth. For instance, according to the OECD Agriculture Statistics 2022 Report, globally, protein availability from poultry, pork, beef, and sheep meat is projected to grow by 16%, 17%, 8%, and 16%, respectively, by 2031.
Livestock & Meat Market Trends
This section covers the major market trends shaping the Livestock & Meat Market according to our research experts:
Increasing Demand for Animal Proteins
According to the WHO, annual meat production is projected to increase from 218.0 million metric ton in 1997-1999 to 376.0 million metric ton by 2030 due to the growing demand for protein-rich food, primarily driven by the rising health consciousness among consumers globally. The increasing demand for animal protein, along with the growing consumer preference for low-fat and high-protein diets, has led to a remarkable rise in the consumption of animal protein across the world.
This trend has been driven by the influence of western cuisines across Africa, Asia-Pacific, and especially the Middle East. As per the OECD-FAO Agricultural Outlook 2022 Report, the consumption of poultry meat is projected to increase globally to 154 million metric ton over the forecast period, accounting for nearly half of the additional meat consumed. On a per capita basis, these robust growth rates in poultry consumption reflect the significant role it plays in the national diets of several populous developing countries, including China, India, Indonesia, Malaysia, Pakistan, Peru, and others.
Asia-Pacific is the Fastest Growing in the Market
The growing meat production in the developing nations of Asia-Pacific is leading to high growth in the overall livestock and meat industry. China is the world's largest meat producer, followed by the United States, the European Union, Brazil, and Russia. Globally, livestock expansion is likely to be facilitated by the increasing size and consolidation of production units toward more integrated systems, especially in emerging developing countries.
This trend is due to changes in the dietary patterns of Chinese consumers due to busy lifestyles and rising disposable incomes. The consumption of processed meat has been steadily increasing, in line with income growth, thus driving the meat market in the country.
Poultry meat may continue to be the primary driver of meat production, registering a 16% by 2031. With favorable meat-to-feed price ratios compared to other ruminants and a short production cycle, poultry producers can respond quickly to market signals while taking on board rapid improvements in genetics, animal health, and feeding practices. Production may expand from sustained productivity gains in China, India, and Indonesia.
China's demand for food and meat continues to rise in terms of quantity and quality. With local meat supplies limited by land, feed, water, and supply chain issues, China has to import a significant proportion of the meat from Australia, Brazil, Uruguay, and Argentina. With increasing modernization and urbanization across China, demand for western-influenced low-temperature meat products, such as bacon and ham products, is driving the meat market.
The growing sheep meat production will likely originate in Asia, led by China, India, and Pakistan. However, significant increases are also projected in Africa, particularly in the least developed countries of Sub-Saharan Africa. Despite limitations linked to urbanisation, desertification, and the availability of feed in some countries, sheep and goats are well adapted to the region with their extensive production systems.
Livestock & Meat Market News
- October 2022: Saudi Arabia announced plans for SAR 17 billion (USD 5 billion) investment to boost poultry production as the Kingdom aims to achieve a poultry meat self-sufficiency rate of 80% by 2025.
- April 2022: At the University of Connecticut, Mansfield, ultrasound technology is used to evaluate body composition traits. This means livestock producers can check meat qualities in live animals, leading to better livestock selection and breeding decisions.
- February 2022: BRF Global achieved the ISO 37001 Anti-bribery Management System certification, issued by an independent and non-governmental entity based in Switzerland. The certification is internationally recognized and emphasizes that the company meets technical requirements and has effective policies, procedures, and controls to prevent and combat bribery, thus promoting an ethical and healthy environment.
- In August 2021: Meamo, a retail meat delivery company, acquired the omnichannel meat provider ChopServe in an all-stock deal in India, with the combined entity now valued at USD 40 million.
Livestock & Meat Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Value Chain of Livestock and Meat Industry
5. MARKET SEGMENTATION
-
5.1 Livestock Activity
- 5.1.1 Live Animals Trade
- 5.1.2 Edible Meat
- 5.1.2.1 Beef
- 5.1.2.2 Poultry
- 5.1.2.3 Pork
- 5.1.2.4 Mutton
- 5.1.2.5 Other Edible Meat
- 5.1.3 Meat Byproducts
- 5.1.3.1 Meat Offal
- 5.1.3.2 Fats
- 5.1.4 Livestock Products
- 5.1.4.1 Raw Milk
- 5.1.4.2 Eggs
- 5.1.4.3 Natural Honey
- 5.1.4.4 Beeswax
- 5.1.4.5 Wool
- 5.1.4.6 Raw Hides and Skin
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5.2 Geography
- 5.2.1 North America
- 5.2.1.1 United States
- 5.2.1.2 Canada
- 5.2.1.3 Mexico
- 5.2.1.4 Rest of North America
- 5.2.2 Europe
- 5.2.2.1 Germany
- 5.2.2.2 United Kingdom
- 5.2.2.3 France
- 5.2.2.4 Spain
- 5.2.2.5 Russia
- 5.2.2.6 Italy
- 5.2.2.7 Rest of Europe
- 5.2.3 Asia-Pacific
- 5.2.3.1 China
- 5.2.3.2 India
- 5.2.3.3 Australia
- 5.2.3.4 Japan
- 5.2.3.5 Rest of Asia-Pacific
- 5.2.4 South America
- 5.2.4.1 Brazil
- 5.2.4.2 Argentina
- 5.2.4.3 Rest of South America
- 5.2.5 Middle-East and Africa
- 5.2.5.1 Saudi Arabia
- 5.2.5.2 South Africa
- 5.2.5.3 Rest of Middle-East and Africa
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Livestock & Meat Industry Segmentation
Livestock is commonly defined as domesticated animals raised in an agricultural setting to produce labor and commodities such as meat, eggs, milk, fur, leather, and wool. Meat is the flesh or other edible parts of animals (usually domesticated cattle, swine, and sheep) used for food, including the muscles and fat, as well as the tendons and ligaments.
The livestock and meat market is segmented by livestock activity (live animals trade, edible meat, meat byproducts, and livestock products) and geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The report offers market size and forecast for the livestock and meat market in value (USD thousand) and volume (metric ton) for all the above segments.
| Livestock Activity | Live Animals Trade | |
| Edible Meat | Beef | |
| Poultry | ||
| Pork | ||
| Mutton | ||
| Other Edible Meat | ||
| Meat Byproducts | Meat Offal | |
| Fats | ||
| Livestock Products | Raw Milk | |
| Eggs | ||
| Natural Honey | ||
| Beeswax | ||
| Wool | ||
| Raw Hides and Skin | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Rest of North America | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Spain | ||
| Russia | ||
| Italy | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| India | ||
| Australia | ||
| Japan | ||
| Rest of Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Livestock & Meat Market Research FAQs
How big is the Livestock and Meat Market?
The Livestock and Meat Market size is expected to reach USD 487.46 billion in 2024 and grow at a CAGR of 5.52% to reach USD 637.70 billion by 2029.
What is the current Livestock and Meat Market size?
In 2024, the Livestock and Meat Market size is expected to reach USD 487.46 billion.
Which is the fastest growing region in Livestock and Meat Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Livestock and Meat Market?
In 2024, the North America accounts for the largest market share in Livestock and Meat Market.
What years does this Livestock and Meat Market cover, and what was the market size in 2023?
In 2023, the Livestock and Meat Market size was estimated at USD 461.96 billion. The report covers the Livestock and Meat Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Livestock and Meat Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Livestock & Meat Industry Report
Statistics for the 2024 Livestock & Meat market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Livestock & Meat analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
