US meat market to reach $215.76 billion by 2028

The latest market report from Fortune Business Insights projects the US MEAT market to expand over the next 7 years as growing consumer interest in protein-rich and ketogenic diets will drive the market over the forecast period. Last year, the market size reached $170.38 billion, but according to the report, it will reach $215.76 billion by 2028 at a CAGR of 3.21% over the forecast period.

However, 2020 was marked by major disruptions to the supply chain and distribution channels due to the COVID19 crisis. The entire global economy has been severely affected by the covid-19 pandemic , which has led to multiple social and economic upheavals and the closure of food processing and other industries. The first months of the virus outbreak negatively affected the growth of the US meat market due to the lockdown imposed by governments. However, after June, the market began to recover its growth as the industry began to function normally, according to the market report.

As a result of the promotions, consumers were persuaded to buy healthier, more protein-rich and balanced foods. Demand for processed beef, pork and chicken has increased across all distribution channels, especially through online retailers, as consumers become more aware of the HEALTH benefits of meat products. Therefore, a greater public understanding of the health benefits of such products will drive the market forward even during a global pandemic.

Meat is a major part of the typical American diet, accounting for over 15%, 40%, and 20% of daily energy, protein, and fat intake, respectively. A wide range of fresh, frozen, chilled and canned meats are sold in the region, primarily to retailers and catering establishments. Due to longer shelf life, higher demand and transportation options, chilled meat dominates the industry. The growth in frozen food consumption in food service channels, especially restaurants, is driving this segment. In addition, frozen foods are seen as a healthy alternative to canned foods and are more convenient due to the reduced processing time.

Moreover, due to the growing trend towards white meat consumption, the poultry segment is expected to grow at a faster pace. The supermarket/hypermarket segment is expected to take a significant market share. 

On the other hand, consumers are increasingly attracted to protein-rich foods as they lead a healthy and active lifestyle. High protein diets are becoming more common among athletes and fitness enthusiasts. As a result, manufacturers are investing in new meat products as well as expanding promotional campaigns that are expected to boost meat sales in the US. Chicken, beef and pork are increasingly being used by manufacturers to make healthy snacks.