North America Red Meat Market Size

The North America red meat market is experiencing growth, with beef being the primary driver due to its significant role in the traditional American diet and efficient supply chain, which keeps prices affordable. The market's expansion is influenced by the United States' substantial market share, bolstered by increased beef consumption and technological advancements in production. Mexico is noted for its rapid growth, supported by rising U.S. exports and changing consumer preferences, while Canada shows slower growth due to demographic shifts and evolving consumer tastes.

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Market Size of north america red meat Industry

North America Red Meat Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 121.06 Billion
svg icon Market Size (2029) USD 129.42 Billion
svg icon Largest Share by Type Beef
svg icon CAGR (2024 - 2029) 1.35 %
svg icon Largest Share by Country United States

Major Players

North America Red Meat Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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North America Red Meat Market Analysis

The North America Red Meat Market size is estimated at 121.06 billion USD in 2024, and is expected to reach 129.42 billion USD by 2029, growing at a CAGR of 1.35% during the forecast period (2024-2029).

121.06 Billion

Market Size in 2024 (USD)

129.42 Billion

Market Size in 2029 (USD)

5.23 %

CAGR (2017-2023)

1.35 %

CAGR (2024-2029)

Largest Segment by Type

64 %

value share, Beef, 2023

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The market is observing growth due to the rising demand for grass-fed beef as it is leaner and has less fat. It is also marketed as a higher quality and premium product.

Largest Segment by Country

77.63 %

value share, United States, 2023

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The US is ideal for raising livestock due to the presence of grasslands and abundant water. Distribution is much easier with processing plants spread across the country.

Fastest-growing Segment by Type

1.37 %

Projected CAGR, Beef, 2024-2029

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The region has a well-managed and efficient livestock-rearing system, which enables the supply of beef to be easily available and moderately priced as compared with more traditional types of meat.

Fastest-growing Segment by Country

1.55 %

Projected CAGR, Mexico, 2024-2029

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The country's improved meat practices, along with higher quality, safety, supply, and better accessibility, have contributed to the growth of the Mexican market.

Leading Market Player

19.32 %

market share, Tyson Foods Inc., 2022

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Tyson offers beef and pork products under its extensive portfolio of brands, which includes Ball Park, Hillshire Snacking, Sara Lee, Bosco's, Galileo, and SteakEze.

Rising beef production in the region is driving the market growth

  • The North American red meat market is driven by beef, which had the highest growth rate by value in 2022. It is expected to register a CAGR of 8.82% during the forecast period. Beef is a significant part of the traditional American diet. Popular dishes like hamburgers, steaks, and meatloaf often feature beef as the main ingredient. The efficient supply chain helps keep beef prices relatively affordable, contributing to its popularity. In 2022, beef observed the highest growth rate by value, registering 11.40% in the market from 2020.
  • The decrease in sheep and lamb production was accompanied by higher prices, which were responsible for the greater production costs. Their production costs were 20% more than any other meat in the region in 2022. A shortage in supply and high prices declined the consumption of sheep and lamb and prevented their growth.
  • Pork is the fastest-growing meat type in North America, and it is expected to reach a CAGR of 0.85% by value during the forecast period. Pork consumption remains relatively steady, with fluctuations occurring due to price changes associated with supply. The dominance of processed pork indicates that processors play an important role in this sector, and many fresh pork packers are likely to be involved in manufacturing processed pork.
  • Among California, Florida, New Jersey, New York, and Texas, Texans spent the most on beef products, amounting to a 26-28% share during 2019-2021. This was driven by higher beef production in the state. The cattle industry offers more than USD 13 billion annually to the Texan economy. Hamburger consumption in Nevada is higher than in most other states, with 267 per capita consumption.
North America Red Meat Market

Red meat consumption in the region is showing stagnant growth

  • The United States held the major market share of red meat during the review period, as the sales value increased by about 38.35% from 2017 to 2022. This increase was majorly due to the increased beef consumption in the United States. Beef accounted for about 68% of the market share in 2022 by value in the United States. Beef is deeply rooted in American culture, and it is one of the most well-known symbols of wealth. Beef producers in the country are very technology-driven, utilizing techniques like 3D printing and sensors to improve beef production, thus increasing productivity.
  • Mexico is the fastest-growing country in North America. It is projected to record a CAGR of 1.57% during the forecast period (2023-2029) due to the steadily growing US exports to Mexico over the past few years. This increase in exports is boosted by the North American Free Trade Agreement (NAFTA) and Mexico's growing meat consumption. Mexico has the largest market, by volume, for US pork and the second-largest market for US beef exports. As pork imports and production increased in Mexico, people began preferring less expensive pork over beef.
  • Canada is experiencing a comparatively slower growth rate, registering a CAGR of 1.04% by value during the forecast period owing to the slow population growth, changing consumer preferences, and an aging demography. On-trade is the major distribution channel in the country, accounting for 58.66% by value of the market share in 2022. Menu choices are highly influenced by characteristics such as grass-fed, all-natural, hormone-free, and antibiotic-free among affluent consumers. Beef remains a popular protein as operators seek higher-value cuts and customers seek healthier eating options.

North America Red Meat Industry Segmentation North America Red Meat Industry Segmentation

Beef, Mutton, Pork 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. Canada, Mexico, United States are covered as segments by Country.

  • The North American red meat market is driven by beef, which had the highest growth rate by value in 2022. It is expected to register a CAGR of 8.82% during the forecast period. Beef is a significant part of the traditional American diet. Popular dishes like hamburgers, steaks, and meatloaf often feature beef as the main ingredient. The efficient supply chain helps keep beef prices relatively affordable, contributing to its popularity. In 2022, beef observed the highest growth rate by value, registering 11.40% in the market from 2020.
  • The decrease in sheep and lamb production was accompanied by higher prices, which were responsible for the greater production costs. Their production costs were 20% more than any other meat in the region in 2022. A shortage in supply and high prices declined the consumption of sheep and lamb and prevented their growth.
  • Pork is the fastest-growing meat type in North America, and it is expected to reach a CAGR of 0.85% by value during the forecast period. Pork consumption remains relatively steady, with fluctuations occurring due to price changes associated with supply. The dominance of processed pork indicates that processors play an important role in this sector, and many fresh pork packers are likely to be involved in manufacturing processed pork.
  • Among California, Florida, New Jersey, New York, and Texas, Texans spent the most on beef products, amounting to a 26-28% share during 2019-2021. This was driven by higher beef production in the state. The cattle industry offers more than USD 13 billion annually to the Texan economy. Hamburger consumption in Nevada is higher than in most other states, with 267 per capita consumption.
Type
Beef
Mutton
Pork
Other Meat
Form
Canned
Fresh / Chilled
Frozen
Processed
Distribution Channel
Off-Trade
Convenience Stores
Online Channel
Supermarkets and Hypermarkets
Others
On-Trade
Country
Canada
Mexico
United States
Rest of North America
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North America Red Meat Market Size Summary

The North American red meat market is experiencing a steady growth trajectory, driven primarily by beef, which holds a significant place in the traditional American diet. The market's expansion is supported by an efficient supply chain that maintains affordable beef prices, enhancing its popularity. Despite challenges such as increased production costs and environmental factors like droughts affecting cattle farming, beef remains a cultural staple and a symbol of wealth in the United States. The market is also characterized by technological advancements in beef production, including the use of 3D printing and sensors, which aim to boost productivity. Pork is another key player in the market, with its consumption remaining stable and influenced by price fluctuations. The processed pork sector is particularly dominant, highlighting the crucial role of processors in meeting consumer demand.

In terms of regional dynamics, the United States commands a major share of the red meat market, with beef accounting for a significant portion of this share. Mexico is emerging as a fast-growing market, benefiting from increased US exports and favorable trade agreements like NAFTA. Canada, while a major beef producer, is experiencing slower growth due to demographic changes and evolving consumer preferences. The market is moderately consolidated, with major companies like Cargill Inc., Hormel Foods Corporation, and Tyson Foods Inc. playing pivotal roles. Recent industry developments include strategic acquisitions and expansions aimed at enhancing production capabilities and supply chain control. Despite labor shortages impacting production rates, the market continues to adapt and evolve, reflecting the ongoing demand for red meat across North America.

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North America Red Meat Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Type

      1. 1.1.1 Beef

      2. 1.1.2 Mutton

      3. 1.1.3 Pork

      4. 1.1.4 Other Meat

    2. 1.2 Form

      1. 1.2.1 Canned

      2. 1.2.2 Fresh / Chilled

      3. 1.2.3 Frozen

      4. 1.2.4 Processed

    3. 1.3 Distribution Channel

      1. 1.3.1 Off-Trade

        1. 1.3.1.1 Convenience Stores

        2. 1.3.1.2 Online Channel

        3. 1.3.1.3 Supermarkets and Hypermarkets

        4. 1.3.1.4 Others

      2. 1.3.2 On-Trade

    4. 1.4 Country

      1. 1.4.1 Canada

      2. 1.4.2 Mexico

      3. 1.4.3 United States

      4. 1.4.4 Rest of North America

North America Red Meat Market Size FAQs

The North America Red Meat Market size is expected to reach USD 121.06 billion in 2024 and grow at a CAGR of 1.35% to reach USD 129.42 billion by 2029.

In 2024, the North America Red Meat Market size is expected to reach USD 121.06 billion.

NA Red Meat Market Report Snapshots

North America Red Meat Market Size & Share Analysis - Growth Trends & Forecasts Up To 2029